Last €3.68 EUR
Change Today +0.197 / 5.66%
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As of 6:16 AM 10/21/14 All times are local (Market data is delayed by at least 15 minutes).

haikui seafood ag (H8K) Snapshot

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10/24/13 - €6.62
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haikui seafood ag (H8K) Details

Haikui Seafood AG is engaged in the production and distribution of frozen and canned seafood products for the Chinese and international markets. It operates in two segments, Frozen Products and Canned Products. The company’s frozen products include crabs, prawns, fishes, prawns and others, such as shellfish and cephalopods; and canned products comprise tuna meat, mackerel, sardines, spicy snappers, and canned eels under the Haikui brand. It serves distributors, including large processing companies. The company was founded in 1993 and is based in Frankfurt am Main, Germany.

1,502 Employees
Last Reported Date: 08/20/14
Founded in 1993

haikui seafood ag (H8K) Top Compensated Officers

Chairman of Management Board and Chief Execut...
Total Annual Compensation: €136.0K
Chief Financial Officer and Member of Managem...
Total Annual Compensation: €117.0K
Vice Chairman of Management Board and Chief O...
Total Annual Compensation: €80.0K
Compensation as of Fiscal Year 2013.

haikui seafood ag (H8K) Key Developments

Haikui Seafood AG Announces Earnings Results for the Second Quarter and Six Months of 2014; Provides Earnings Guidance for the Nine Months and Full Year 2014

Haikui Seafood AG announced earnings results for the second quarter and six months of 2014. For the quarter, rising of revenue by 4.8% to EUR 28.3 million compared to the same period last year. For the six months primarily due to lower sales volume arising from keen competition and the on-going tight supply of raw materials, revenue was decreased by 15.7% to EUR 58.5 million compared to EUR 69.4 million a year ago. Profit from operations (EBIT) decreased by 21.9% to EUR 7.6 million compared to EUR 9.7 million a year ago. Net profit grew by 3.2% to EUR 6.1 million compared to EUR 5.9 million a year ago. The company provided earnings guidance for the nine months and full year 2014. For the period, revenue is expected to be broadly comparable with the same period in 2013 but with margins anticipated to be slightly lower than first half 2014 and nine months 2013. Despite uncertainties associated with the development of selling and raw material prices, the management of Haikui Seafood expects a strong fourth quarter compared to 2013. For the full year, maintaining its full year 2014 target of delivering a revenue growth of at least 5% to 10% measured in RMB terms with an EBIT margin in the range of 11% and 13%.

Haikui Seafood AG Reports Earnings Results for the First Quarter Ended March 31, 2014; Provides Earnings Guidance for the First and Second Half of 2014

Haikui Seafood AG reported earnings results for the first quarter ended March 31, 2014. For the quarter, despite the still on-going difficult market environment in the first quarter 2014 affecting the results of Chinese seafood processors, Haikui Seafood succeeded in increasing its profit margins and further strengthening the Group's financial position. Revenue declined by 28.7% to EUR 30.2 million compared to EUR 42.4 million a year ago. Measured in the local currency RMB, revenue decreased by 27.9% year-on-year. Regarding the revenue decline in first quarter 2014, it has to be taken into account that the first quarter of 2013 was a very strong quarter as the large supplies of raw seafood in the second half of 2012 and at the beginning of 2013 enabled Haikui Seafood to meet sales deliveries in first quarter 2013. Moreover, the first quarter 2013 results were not affected by the CIQ's measures. The EBIT margin increased to 17.0% and the net profit margin improved to 13.7%. With respect to the half-year results, first half 2014 revenue is expected to be lower compared to first half 2013 with the growth in the top-line expected to be recorded sometime in second half 2014. Margins for first half 2014 are expected to be slightly lower than first half 2014 but higher than first half 2013.

Haikui Seafood Provides Earnings Guidance for the First Quarter of 2014

Haikui Seafood provided earnings guidance for the first quarter of 2014. The company said that given the current situation and although revenue in first quarter 2014 is expected to be lower compared to first quarter 2013, management expects revenue in RMB terms to increase by at least 5 to 10% in 2014. EBIT margin is estimated to be in the range of 11% to 13%.


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