Our collaboration with Premium Pet Food Suomi Oy started with a major reporting overhaul last summer. The growing company had just made significant investments in production and undergone a change in ownership. The question had arisen how to improve the flow of information, especially to the company’s board and bank.
The Aamu team jumped in to provide the structure for reporting and to support them in their role as outsourced financial manager. Through the Clarity service partnership, visibility into the company’s financial situation has improved significantly. Now the company’s old staff and new key people have a better and constant overview of where we are and, above all, what is coming up.
Premium Pet Food as a company
Founded in 2013, Premium Pet Food Suomi Oy is Finland’s leading provider of contract pet food. The company manufactures and sells dry and frozen pet food and treats using its own production facilities.
The high quality products for pets are manufactured in the company’s own refrigerated production facilities. All products are made from domestic, clean and minimally processed raw materials with a focus on sustainability. The listed company Musti Group is one of the company’s largest shareholders.
The task to give reporting and forecasting a new life
Last year, Premium Pet Food was growing to the point where improving and streamlining reporting was an important next step. The company’s CEO, Mikko Isomäki, was looking for a reliable partner to create structure and help the company through the growing pains:
The bank demanded more accurate reporting, so financial reporting needed to be developed further. Improving reporting to the board was also a key development for the company. Changes in ownership resulted in new board members who needed better visibility of the company’s activities.
“Aamu Partners’ wide range of expertise and services convinced me to start working with them,” says Mikko.
The many hats of Aamu Partners
The collaboration started in the summer of 2021 with joint workshops. From the very beginning, our team helped Premium Pet Food with their diverse expertise:
We acted as a financial expert, as the company did not have its own finance person. The very first agenda was to create a financial structure for the company, focusing on self-sufficiency, debts and discussions with the bank.
Another key objective was to develop and harmonize reporting. For this, we created board and bank reports, which were also automated in our Clarity software. We also started a process where reporting was clearly linked to the planning of agendas for board meetings. This sharpened the structure of board work as a by-product of the collaboration.
With Clarity, we wanted to bring a whole new level of visibility to board work. For banks, the company was now able to show hard figures in a clear format on banking metrics, capital adequacy, leverage and net debt.
We also spar with Premium Pet Food’s management on the financials. In monthly meetings, led by Robert Räbinä, we go over financial matters with Mikko and train him on them.
A clear view of the finances with Clarity
At the start of 2022, the benefits of this collaboration were already clearly visible in Premium Pet Food’s everyday life.
As a result of improved reporting, the company’s board of directors can easily monitor sales forecasts from Clarity, and they also keep track of the company’s customer base and key performance indicators for product categories. The company can also conveniently present its financial statements to the bank from a customized Clarity view. More importantly, with a clear view of the future and a healthy profitability level, the fundamentals are in good shape.
The collaboration has moved towards higher value-added topics, such as delving deeper into the profitability differences between different production lines and product groups and working on their optimisation, future sales strategy and sharpening it, accelerating growth angles, production upgrades and timing of next investments.
Aamu Partners' versatile expertise and service portfolio convinced me to start working with them.Mikko Isomäki, CEO, Premium Pet Food