GlobeNewswire by notified

Consolidated Unaudited Interim Report of AS PRFoods for the 3nd quarter and 9 months of 2021/2022 financial year

Share

Q3 and 9 months results show separately discontinued daughter company Heimon Kala Oy results. As of Q4 PRFoods will no longer show Heimon Kala Oy results as discontinued unit. Acquired fish farming licences fair value has not been included in the report. Taking into account that group's financial year ends June 30, the annual report will be structured anew, including fish farming. Relevant information will be disclosed in upcoming report. 

"End of 2021 and beginning of 2022 were extremely volatile. Raw material prices increased over 100%, due to which processed goods, which prices were fixed in fall with retailers, were significantly loss making. Therefore, it should be viewed as right decision to sell Heimon Kala OY, as seen from company's results. Independently, other group companies were profitable, even Estonia if to deduct loss from Finnish exports. During Q4 we can demonstrate that our other companies can manage even in very volatile environment. PRFoods has no exposure to Ukraine, Belorussia, and Russia, thus the war does not affect as directly. At the same time, we must take into account higher costs, including energy. Fish farming can pass extra costs directly to consumers, processing units must monitor that gross margin is kept, even if sales might be compromised.

Grave mistakes in Finnish management caused there a crisis, survival of which independently was challenging. We believe that further consolidation in Finland affects positively Heimon Kala Oy performance in future and Estonian factory will continue to sell subcontracted products to Heimon Kala Oy.

Due to sale of business units, correction was made in the balance sheet of the group, due to purchase price of Finnish units in 2006-2007 and 2017. Please take into account that Swedish fish farming unit was separated from Heimon Kala Oy as part of the sale but was historically included in purchase price of Finnish businesses. Relevant adjustment will be made in annual report after directly consolidating Sweden to group. PRFoods is analysing various scenarios to reduce debt in order to invest in new fish farming projects.”

Consolidated Statement of Financial Position

Thousand euros31.03.202231.03.202130.06.2021
ASSETS
Cash and cash equivalents1191 4852 500
Receivables and prepayments3 6693 5363 512
Inventories2 6617 6455 691
Biological assets2 3132 3664 795
Total current assets8 76215 03216 498
Deferred tax assets972138
Long-term financial investments230232302
Tangible assets9 01715 54115 300
Intangible assets21 94223 62623 460
Total non-current assets31 28639 42039 100
TOTAL ASSETS40 04754 45255 598
EQUITY AND LIABILITIES
Interest-bearing liabilities7 4848 9847 325
Payables and prepayments4 00410 83312 124
Government grants152208207
Total current liabilities11 64020 02519 656
Interest-bearing liabilities16 52313 94417 561
Payables and prepayments02980
Deferred tax liabilities1 5361 7871 861
Government grants226752746
Total non-current liabilities18 28516 78120 168
TOTAL LIABILITIES29 92536 80639 824
Share capital7 7377 7377 737
Share premium14 19714 19814 007
Treasury shares-390-390-390
Statutory capital reserve515151
Currency translation differences815683559
Retained profit (loss)-12 009-4 985-6 723
Equity attributable to parent10 40117 29415 241
Non-controlling interest-278352533
TOTAL EQUITY10 12317 64615 774
TOTAL EQUITY AND LIABILITIES40 04954 45255 598


Consolidated Statement of Profit or Loss And Other Comprehensive Income

Thousand euros9m 2021/20229m 2020/2021*
Revenue21 64740 595
Cost of goods sold-19 316-35 831
Gross profit2 3314 764
Operating expenses-3 295-7 063
Selling and distribution expenses-2 274-4 886
Administrative expenses-1 021-2 178
Other income / expense-41179
Fair value adjustment on biological assets904-149
Operating profit (loss)-101-2 270
Financial income / expenses-1 279-799
Profit (Loss) before tax-1 380-3 070
Income tax-135-85
Net profit (Loss) from continuing operations-1 516-3 155
Net profit (Loss) from discontinued operations-4 106-258
Net profit (loss) for the period-5 622-3 413
Net profit (loss) attributable to:
Owners of the Parent Company-5 627-3 331
Non-controlling interests5-82
Total net profit (loss) for the period-5 622-3 413
Other comprehensive income (loss) that may subsequently be classified to profit or loss:
Foreign currency translation differences1321 049
Total comprehensive income (expense)-5 490-2 364
Total comprehensive income (expense) attributable to:
Owners of the Parent Company-5 495-2 282
Non-controlling interests5-82
Total comprehensive income (expense) for the period-5 490-2 364
Profit (Loss) per share (EUR)-0,15-0,09
Diluted profit (loss) per share (EUR)-0,15-0,09

 *The results of 9m 2020/2021 have been adjusted and show only line-by-line consolidated operating results from continuing operations.

Indrek Kasela
AS PRFoods
Member of the Management Board
Phone: +372 452 1470
investor@prfoods.ee
www.prfoods.ee

Attachment

To view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml-eu.globenewswire.com, please give your consent at the top of this page.

About GlobeNewswire by notified

GlobeNewswire by notified
GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://notified.com

GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire by notified

Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire by notified

Kalera Public Limited Company announces its share structure following the business combination with Agrico Acquisition Corp.29.6.2022 16:30:19 CEST | Press release

ORLANDO, Fla., June 29, 2022 (GLOBE NEWSWIRE) -- Kalera Public Limited Company ( “Kalera”) and Agrico Acquisition Corp. (“Agrico”) today announced the completion of their previously announced business combination. The combined company will retain the Kalera name and will commence trading ordinary shares (“Kalera Shares”) and warrants (“Kalera Warrants”) on Nasdaq under the new ticker symbols “KAL” and “KALWW”, respectively, on Wednesday, June 29, 2022. The business combination was approved at a special meeting of the shareholders of Kalera S.A. on June 28, 2022. Update on Share Structure Pursuant to the Sponsor Support Agreement entered into on January 30, 2022, upon the consummation of the business combination approximately 1.8 million shares (50%) of Agrico Class B common stock were first converted into Agrico Class A common stock on a one-for-one basis, then into Kalera Shares on a one-for-one basis. The remaining 50% of the Agrico Class B common stock was forfeited to Agrico. In co

Business School Graduates Enter White-Hot Job Market as Employers Signal Growth, Confidence in Their Credentials29.6.2022 16:00:00 CEST | Press release

MBA and business master’s degrees remain hot commodity despite recession fears and COVID challenges RESTON, Va., June 29, 2022 (GLOBE NEWSWIRE) -- The Graduate Management Admission Council (GMAC), a global association of leading graduate business schools, today released its annual hiring report, the GMAC Corporate Recruiters Survey – 2022 Summary Report. The report explores the state of employer demand for graduate business school talent (MBA and business master’s degree recipients) in the context of the COVID-19 pandemic and includes responses from nearly 1,000 corporate recruiters and staffing firms around the world. While rising inflation and the war in Ukraine were just at the onset during the time when the survey was conducted in February and March 2022, hiring projections of graduate management education (GME) graduates remain bullish this year, with 92 percent of corporate recruiters expecting to hire newly minted MBAs. Promisingly, 2 in 3 responding corporate recruiters describ

AGC Biologics Named Manufacturing Company of the year by American Business Awards29.6.2022 15:09:00 CEST | Press release

Global CDMO honored for Growth in Mammalian, Microbial and Cell and Gene Manufacturing capabilities at Seattle, Boulder and Longmont sites SEATTLE, June 29, 2022 (GLOBE NEWSWIRE) -- AGC Biologics, a leading global Biopharmaceutical Contract Development and Manufacturing Organization (CDMO), today announced it was named Company of the Year in the “Large - Manufacturing” category in the 20th Annual American Business Awards®. The American Business Awards are the U.S.A.’s premier business awards program. Nicknamed the Stevies for the Greek word meaning “crowned,” the awards were presented to winners at a gala ceremony at the Marriott Marquis Hotel in New York on Monday, June 13. More than 230 professionals worldwide participated in the judging process to select this year’s American Business Award winners. AGC Biologics has a global pharmaceutical manufacturing network with seven sites across three continents. Over the last two years, the company has expanded its capabilities and reach with

PGS ASA: Approval and publication of prospectus – Listing of shares and Subsequent Offering29.6.2022 15:01:52 CEST | Press release

29 June, 2022 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, JAPAN, HONG KONG, SOUTH AFRICA OR THE UNITED STATES, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN. Reference is made to the previous stock exchange announcements by PGS ASA (“PGS” or the “Company”) regarding a successfully placed private placement (the "Private Placement") of new shares in the Company, raising gross proceeds of approximately NOK 800 million and a potential subsequent offering (the “Subsequent Offering) of up to 38,155,803 new shares at a subscription price of NOK 3.70, and the Company’s extraordinary general meeting’s approval of the same on 27 May 2022. The Private Placement consisted of one tranche of 74,200,000 new shares ("Tranche 1") and a second tranche of 142,016,216 new shares ("Tranche2"). T

ASM INTERNATIONAL N.V. ANNOUNCES DETAILS OF THE Q2 2022 CONFERENCE CALL AND WEBCAST29.6.2022 15:00:00 CEST | Press release

Almere, The Netherlands June 29, 2022 ASM International N.V. (Euronext Amsterdam: ASM) will report its second quarter 2022 financial results at approximately 6:00 p.m. CET on Wednesday, July 20, 2022. ASM will host the quarterly earnings conference call and webcast on Thursday, July 21, 2022, at 3:00 p.m. CET. Conference call participants should pre-register using this link to receive the dial-in numbers and a personal PIN, which are required to access the conference call. A simultaneous audio webcast, and replay will be accessible at www.asm.com/investors/webcasts-presentations/2022/second-quarter-earnings. About ASM International ASM International N.V., headquartered in Almere, the Netherlands, and its subsidiaries design and manufacture equipment and process solutions to produce semiconductor devices for wafer processing, and have facilities in the United States, Europe, and Asia. ASM International's common stock trades on the Euronext Amsterdam Stock Exchange (symbol: ASM). For mor