Already 6,291 people have seen this company's branding and they are being followed by 309 Storybook user.In average the company has been rated 3.7 points ja kommenteeritud 33 korda.

's activity report 2022

Introduction

OÜ Nittis is an Estonian capital-based footwear retail chain that started operations in 1994.

As of today, OÜ Nittis has a total of 13 stores, named NS-King, where women's, men's and children's footwear, leather goods and shoe care products are sold.

The retail chain includes 8 stores in Tallinn, 1 store in Tartu, 1 store in Pärnu, 1 store

in Narva and 1 store in Viljandi. The online store also operates stably. In 2022, the online store's share of total sales was 9.45% (16.6% in 2021).

In 2022, Nittis OÜ (merging entity) and Monobrand OÜ (merged entity) merged.

Revenues, expenses and profit In 2022, OÜ Nittis had sales revenue of 10.30 million euros (10.19 million euros in 2021).

99.09% of sales revenue came from the sale of goods.

24.78% of OÜ Nittis's sales revenue came from the sale of goods and services to the European Union and 75.22% from sales in Estonia. The target countries for foreign markets are the Republic of Latvia and the Republic of Lithuania.

OÜ Nittis's profit for the reporting year was 0.28 million euros, compared to 0.60 million euros the previous year.

Costs for goods, materials and services amounted to 7.99 million euros, compared to 7.61 million euros the previous year. Other operating expenses were 0.53 million euros, compared to 0.72 million euros the previous year. In 2022, construction and renovation work took place in NS King stores in Kristiine Centre, Rocca al Mare

Centre and Ülemiste Centrum in Tallinn.

Risk of changes in exchange rates and interest rates

Some transactions with suppliers are in US dollars, which increases the exchange rate risk.

The company's long-term loan interest rate is linked to EURIBOR. In the management's view, interest rates are expected to rise over the next 12 months, which will have a significant impact on the company's interest expenses.

Objectives for the next fiscal year

The main objective of OÜ Nittis for the next fiscal year is to maintain the company's market position through the expansion of the store network and product range. There are also plans to expand the list of suppliers. At present, the main foreign partners are from Italy, China, Germany,

Belgium, Brazil, Poland, Sweden and Turkey. This year, OÜ Nittis will continue to moderately develop its wholesale business.