PRFoods Consolidated Audited Annual Report 2024/2025

Management Commentary - The 2024/2025 financial year was transformative for PRFoods, with a successful debt restructuring that improved financial stability and reduced liquidity pressures, ensuring business continuity and job preservation [1] - The restructuring extended debt maturity to March 31, 2028, with a 0% interest rate, facilitating cash flow management and strategic planning [1] Financial Performance - Sales revenue increased by approximately 10% year-on-year, reaching EUR 18.8 million, driven by strong performance in the UK (74% of total sales) and a 12% increase in the Estonian market [2] - Gross profit rose to EUR 4.0 million, while operating loss decreased significantly to EUR -0.6 million from EUR -3.3 million the previous year [3] - A one-off financial income of EUR 9.6 million from the restructuring led to a net profit of EUR 7.3 million for the financial year, compared to a projected loss of EUR 1.8 million without restructuring [3] Production and Market Position - The Saaremaa production unit increased both production volumes and market share, with positive demand trends for Saare Kala products in domestic and export markets [4] - The UK subsidiary, John Ross Jr (Aberdeen) Ltd, maintained profitability and a strong market position despite sector challenges and raw material price fluctuations [5] Future Focus - The Management Board aims to restore profitability and enhance operational efficiency, leveraging the stability from restructuring to increase operating cash flows and strengthen the capital base [6]