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's activity report 2022

The main activities of AS Vaggen in 2022 were the provision of port fleet services, including the most important activities based on sales revenue - collection of hazardous waste and towing of ships (code according to EMTAK - 38121, 50202).

The company intends to develop a new line of business - bunkering of ships.

In 2022, AS Vaggen continued its traditional business and secured the market share achieved in previous years. The company invested in bunkering activities, which resulted in a significant reduction in net profit.

Overall, 2022 was a successful year for Vaggen AS.

Main financial ratios 2022 2021

Sales revenue (thousand EUR) 1 265 1 216

Revenue growth (%) 4.04 -20.14

Net profit (thousand EUR) 391 332

Profit growth (%) 17.64 -43.61

Net profitability (%) 30.90 27.33

Coverage ratio of short-term liabilities 96 48

ROA (%) 5.99 5.37

ROE (%) 6.04 5.46

Formulas used in calculating ratios:

Revenue growth (%) = (sales revenue 2022 - sales revenue 2021)/ sales revenue 2021 * 100

Profit growth (%) = (net profit 2022 - net profit 2021)/ net profit 2021 * 100

Net profitability (%) = net profit/ sales revenue * 100

Coverage ratio of short-term liabilities (times) = current assets/short-term liabilities

ROA (%) = net profit/ total assets * 100

ROE (%) = net profit/ total equity * 100

Risk of changes in exchange rates and interest rates

AS Vaggen's transactions with suppliers and customers are in euros, so the risk of changing the exchange rate is low.

Staff

The average number of employees at AS Vaggen during the financial year was 22 employees. In 2022, the company's labor costs amounted to 415 516 euros.

Goals for the next financial year

The main goal of AS Vaggen for the next financial year is to maintain and secure the company's market position in existing markets.