Partner in Pet Food 2013 results

Partner in Pet Food (PPF), one of Europe’s leading pet food producers, today reports a 6% rise in annual sales during 2013.

FINANCIAL HIGHLIGHTS

• Total sales of €225m, up 6% on 2012
• Total product volume of 400,000 tons, enough to feed about 1.75 million cats and 1.66 million dogs for a year
• PPF more than trebled its UK sales, up 213%
• 35% of sales from new products
• 11% of sales generated in new markets
• 25% increase in branded sales

OPERATIONAL HIGHLIGHTS
• PPF signed an agreement with Tesco to supply its UK operations from November 2013
• Entered two new markets, including the Ukraine and Italy
• Significant increase in presence in the UK, Germany, France, Slovenia and Croatia
• PPF acquired the Agro-Trust pet food business in Hungary, adding new capabilities and formats
• Addition of more production capacity to meet 90% increase in pouch sales

PPF has today bucked the trend for European consumer goods companies and reported sales growth of 6% as part of its 2013 results. Total group sales for 2013 were €225m across the 28 markets in which PPF operates.
Sales growth in 2013 was driven by significant increases in sales of new product formats, by entering new markets, increased sales of branded products and by more than doubling sales in the UK and France.
The company significantly increased its presence in the key European markets. In November of 2013 PPF signed an agreement to supply Tesco with own-label products for sale in the UK. This builds on the long-standing relationship PPF has with the retailer in Central and Eastern Europe.
New products accounted for 35% of sales in 2013, demonstrating PPF’s continued strength in innovation. Premium formats delivered strong growth with pouch sales increasing 90% and single serve up 63%. The company’s branded products delivered sales growth of 25%.
PPF’s success in 2013 ensures that it is ideally placed to deliver continued dynamic growth this year. The company forecasts that in 2014 it will triple its UK sales, along with doubling them in Germany and France.
Attila Balogh, Chief Executive Officer, Partner in Pet Food Group said: “Our strong 2013 results are a testament to the strengths of PPF in product quality, innovation and customer service. These results demonstrate that PPF is able to deliver growth in diverse markets across the continent in spite of a difficult consumer environment. I’m particularly proud of our agreement to supply Tesco in the UK, building on our long-standing relationship with them in continental Europe.

2014 promises to be another good year with multiple growth opportunities for the business. We forecast that we will more than triple our UK sales on top of the 213% increase we achieved last year.”
Commenting on the results, Chris Mruck, Managing Partner and Co-Head of Central Europe, Advent International said: “PPF has achieved excellent results in 2013 during a difficult market and is now clearly a European market leader in pet food. These results provide a strong foundation for growth in 2014 and beyond. The business has a strong pipeline of opportunities which should allow it to capitalise across Europe.”