This company's branding has already reached 9,719 peopleand his is followed by 138 Storybook users.On average, the company has been rated 4.3 points.and commented 35 times.

Strategic decision: No desire to increase customer base
Board member Maire Napritson (11.01.2024): "We focus only on providing high-quality service to existing customers and maintaining relationships. We do not plan to increase our customer base."

's activity report 2022

AS Holttem has prepared the 2022 consolidated annual report of the group. During the past fiscal year, the company continued its traditional business, mainly producing glued laminated timber and sawn timber from both solid and finger-jointed laminations of pine wood.

CONSOLIDATED GROUP

The consolidating unit of the consolidated group is AS Holttem (parent company) and the consolidated unit is OÜ Karksi-Nuia Soojus (subsidiary).

AS Holttem owns 100% of the share capital of OÜ Karksi-Nuia Soojus. The investment in the subsidiary is reflected in the unconsolidated balance sheet using the equity method.

Changes that occurred and are expected in the composition of the consolidated group during the fiscal year.

In the 2020 fiscal year, AS Telver bought 95% of AS Holttem's shares. There was a change in the board members during the reporting year.

Seasonality or cyclicality of the consolidated group's business activities.

The quantity and quality of raw materials procured by the consolidating unit AS Holttem largely depend on weather conditions, therefore the main raw material procurement takes place from autumn to spring. Its products are marketed year-round, except for the sale of wood material needed for heat production, which is more active in the autumn-winter period. As the subsidiary's field of activity is heat production, business activity is more active during the heating period.

Dividend policy of the consolidated group.

It has been decided in the consolidated group not to pay dividends during the investment period.

General economic circumstances affecting the company's economic development and their impact on financial results.

Holttem AS's business activity was significantly affected by the 2022 wood sector standstill. The number of orders for both wood components and sawn timber decreased drastically, as did the price of finished products. The impact on financial results is reflected in the turnover.

The subsidiary of AS Holttem, OÜ Karksi-Nuia Soojus, which is part of the consolidated group, has been profitable for several years, allowing it to operate sustainably.

CONSOLIDATING UNIT

The main activity of AS Holttem in the past fiscal year was: · production and sale of glued laminated timber and finger-jointed components, major side activities: · sale of wood waste generated from production i.e. wood chips and sawdust . production of sawn timber

65% of the production is sold to domestic customers and 35% to foreign markets.

Main financial ratios for the fiscal year of the consolidating unit and the previous fiscal year and their calculation methodology In 2022, AS Holttem's sales revenue amounted to 13 million euros. The company's fiscal year ended with a loss of 786 thousand euros.