This company's branding has already reached 5,182 peopleand his is followed by 72 Storybook users.On average, the company has been rated 5.0 points.and commented 4 times.

's activity report 2022

Company Description

Fazer is an international family business that produces bread and pastries, as well as confectionery and biscuit products. Fazer operates in eight countries and exports to more than 40 countries. Fazer's mission is to create taste experiences. Since its establishment in 1891, the company's success has been based on the best product and service quality, beloved brands, the passion of their skilled people, and the company's responsible way of working.

Fazer Eesti OÜ's parent company is Fazer Leipomot OY, which is registered in Finland and in turn belongs to the Karl Fazer OY group. Fazer started operations in Estonia in 1993. According to the restructuring plan of 2014, the production of bread and pastries, as well as frozen bakery products, was discontinued

in the Tallinn factory on March 31, 2015, and production in the Baltic countries was concentrated in factories in Latvia and Lithuania. In September 2015, the land and buildings were sold.

Fazer Eesti AS's sole shareholder Fazer Leipomot OY decided on 22.07.2020 to transform the Company into a Limited Liability Company. After the transformation, the new business name of the Company is Fazer Eesti OÜ.

As of 31.12.2022, Fazer Eesti employs 83 employees (31.12.2021: 78).

In 2022, the sale of packaged bakery products in Estonia decreased both in volume and value. The consumption of traditional bakery products (loaf breads, mould breads, table breads and rye breads) decreased. The segment of toasts, sandwich breads and bakery products suitable for fast food preparation: burger buns, hot dog buns, tortillas is on a growth trend. Fazer continued to invest in growing segments. The success of the Street Food product range continued, with new products being added. In the spring, the Fazer toast bread range was renewed and the products received a new packaging design, which helped to increase visibility on the shelves and led to a growth in sales of the entire toast bread segment.

In 2022, cooperation with Prisma Peremarket AS continued in relation to the development of bakeries and new openings. We opened 3 new bakeries and by the end of 2022, there were 13 units. The bakeries produce pastries from scratch as well as from frozen products, offering taste experiences for both everyday and festive occasions.

The 2022 confectionery market was greatly influenced by the increase in input prices and the resulting price increases for consumers (chocolate market volume growth 0.6%, monetary growth 11%; AC Nielsen). Despite price increases, Fazer managed to increase confectionery sales in Estonia both in money and volume faster than the total market growth. Sales were mainly supported by well-conducted campaigns in stores, increased marketing support and the good work of the entire sales team in ensuring product visibility and availability. The largest growth in 2022 was shown by chocolate bars (Kismet, Geisha

Crunchy), Tutti Frutti candy bags and chocolate boxes.

Sustainable cocoa production is crucial for the future of the chocolate industry, therefore 100% of the cocoa we use comes from responsible sources. We source cocoa through agricultural programs in Nigeria and Ivory Coast and use UTZ, Rainforest Alliance and

Fairtrade Cocoa Programme certified cocoa.

Seasonality is insignificant in the business activities of Fazer Eesti OÜ and the activities do not have significant environmental and social impacts.

The impact of warfare on the 2022 financial results was influenced by the exceptionally rapid increase in raw material, fuel and energy prices in all Fazer production units due to the war. During the year, we raised prices for both bakery and confectionery products.

To ensure liquidity, the availability of sufficient funds in the company's bank account is monitored. The company's credit risk is mainly associated with claims arising from business activities, but the credit risk is considered insignificant by the company's management. There is no currency risk as the company mainly conducts transactions in euros. The company's management considers interest rate risk to be insignificant. During the financial year and the reporting period, no significant risks associated with changes in exchange rates, interest rates and stock prices were identified.

Revenues, expenses, profit In 2022, Fazer Eesti's sales revenue was 24,025 thousand euros, which is 3,794 thousand euros more than in 2021. 52% of the sales revenue in 2022 was made up of bakery product sales (2021: 53%), 44% of confectionery wholesale (2021:45%) and other revenues were 4% (2021:2%). 98% of Fazer Eesti's sales revenue was sales to Estonia (2021: 99%).

The net profit of Fazer Eesti amounted to 732 (2021: 688) thousand euros.

Main financial ratios 2022 2021

Sales revenue (thousand euros) 24,025 20,231

Turnover growth 18.8% 8.9%

Net profit (thousand euros) 732 688

Profit growth 6.4% 13.3%