Consolidated Unaudited Interim Report of AS PRFoods for the 1st quarter and 3 months of 2025/2026 financial year

Core Insights - The company experienced a significant decline in sales revenue, amounting to 3.6 million euros, which is a 21% decrease compared to the previous year [1][7] - The Estonian production unit's turnover dropped by 64.7%, while sales in the United Kingdom remained stable at 3.1 million euros, representing 85.4% of total turnover [1][2] - The group reported a net loss of 0.8 million euros for the first quarter, influenced by increased interest expenses from restructured debt obligations [2][11] Financial Performance - Gross profit decreased to 0.7 million euros, down from 0.9 million euros a year earlier [2][10] - EBITDA from operating activities was -0.1 million euros, a decline of 0.2 million euros compared to the previous year [2][10] - The gross margin was reported at 19.8%, slightly lower than the previous year's 21.2% [7][10] Operational Efficiency - Despite lower sales volume, the company maintains a stable financial position and focuses on improving production efficiency and cost control [3][4] - Operating expenses as a share of revenue increased to 28.1%, but nominal expenses remained under control, allowing for potential margin improvement as revenue recovers [3][7] Market Outlook - The company anticipates a modest recovery in demand towards the end of the year, coinciding with a seasonal increase in fish product consumption [4] - Strategic priorities include enhancing production processes, streamlining the product portfolio, and strengthening sales capabilities to ensure competitiveness [4]