MANAGEMENT COMMENTARY
The second quarter of PRFood’s fiscal year continued to be challenging due to the difficult economic landscape characterized by weak consumption, price sensitivity, and increased cost pressure, particularly impacting the Group’s operations in Estonia and nearby markets. Despite these challenges, management has maintained its focus on core activities, cost control, and strengthening the financial structure.
Sales revenue for the Group in the second quarter amounted to 5.1 million euros, which is a decrease of 1.7 million euros or 25% compared to the same period last year. The decline in sales was mainly due to reduced volumes in the Estonian and Finnish markets. The gross profit for the quarter was 1.0 million euros, a 43% year-over-year decrease, reflecting lower production volumes and pricing pressure.
EBITDA in the second quarter was 0.2 million euros, falling short of last fiscal year’s 0.6 million euros. Depreciation costs remained stable, and operating profit was near zero, compared to last fiscal year’s operating profit of 0.4 million euros. The net loss for the second quarter was 0.7 million euros, compared to last fiscal year’s net loss of 0.1 million euros.
For the first half of the year, the Group’s sales revenue reached 8.7 million euros, a decrease of 2.7 million euros or 23% compared to the same period last fiscal year. The gross profit for the six months was 1.7 million euros, 34% lower than the previous fiscal year. EBITDA for the six months was -0.1 million euros, compared to 0.7 million euros positive in the previous fiscal year. Operating loss amounted to 0.3 million euros and net loss to 1.5 million euros, significantly impacted by increased financial costs related to debt restructuring in the past fiscal year and lower operational volume.
Geographically, the Group’s sales remained predominantly in the United Kingdom market, with six-month sales revenue of 7.7 million euros, accounting for 87.7% of the Group’s total turnover. Compared to the previous fiscal year, sales in the UK remained stable. Sales revenue in the Estonian market fell to 1.0 million euros over the same period, a decrease of 2.5 million euros or more than 70%, clearly reflecting weak local consumption and retail sector pressure in Estonia and nearby markets.
Entering the third quarter, the market conditions remain uncertain, with no visible recovery in consumption in Estonia or nearby markets. In this environment, management’s priority is to further improve efficiency, control the cost base, and manage financial obligations. Additionally, ongoing activities to strengthen the Group’s capital structure and long-term sustainability will continue.
KEY INDICATORS
INCOME STATEMENT
mln EUR
unless stated otherwise |
Q2 2025/2026 |
2024/2025 |
Q2 2024/2025 |
2023/2024 |
| Sales Revenue |
5.1 |
18.8 |
6.8 |
17.1 |
| Gross Profit |
1.0 |
4.0 |
1.7 |
3.2 |
| EBITDA |
0.1 |
0.1 |
0.6 |
-0.3 |
| EBIT |
0.0 |
-0.6 |
0.4 |
-3.3 |
| EBT |
-1.4 |
7.6 |
0.1 |
-4.6 |
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