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's activity report 2022

The main activity of Plaat Detail OÜ is the import and wholesale of furniture materials in the Baltic States and the production and wholesale of window sills, work surfaces, furniture doors and other furniture and interior components covered with high-pressure laminate. Plaat Detail OÜ represents the world's largest high-pressure laminate manufacturer FORMICA in the Baltic States, as well as Garnica, Alucoili, Fipro, Arpa and Homapal products.

The business activity of Plaat Detail OÜ is not seasonal and the company's economic activity is not cyclical, nor does the economic activity of Plaat Detail OÜ have significant environmental and social impacts. During the financial year or during the preparation of the report, no risks related to changes in exchange rates, interest rates and stock prices have emerged.

The sales revenue for 2022 was 14.8 million euros, which increased by 1% compared to 2021. Exports accounted for 59% of sales revenue, reaching 8.7 million euros. The profit for 2022 was 982 thousand euros, decreasing by 16% compared to 2021. The increase in sales revenue was mainly due to the smaller than expected impact of COVID-19 on the economic environment. We also anticipated a raw material crisis in our sector and significantly increased our stock levels at the beginning of 2021, which in turn helped to ensure stable supplies to our customers, even as demand increased.

In 2022, the average number of employees in the company was 52 and the labor cost was 1.5 million euros, including board fees with social taxes of 44 thousand euros. No bonuses, bonuses or other benefits were paid to board members in 2022.

In 2023, Plaat Detail plans to continue with the digitalization of the company. At the beginning of this year, we also received digital support, with the help of which we plan to further streamline production and processes through digitalization. We have also started the process of assessing the company's carbon footprint.

However, there is a lot of uncertainty for 2023, mainly due to the war in Ukraine, inflation and the rise in EURIBOR. All this makes forecasting very difficult, but in today's situation, we predict a slowdown in the economic environment at the end of 2023 and the beginning of 2024, which will certainly also affect the furniture sector.

Main ratios of the company: 2022 2021

Turnover growth (decline) 1% 29%

Profit growth (decline) -16% 105%

Net profitability 7% 8%

Short-term liabilities coverage ratio 2.60 2.37

ROA 11% 14%

ROE 15% 20%

Formulas used in calculating ratios:

Turnover growth (decline) (%) = (reporting year sales revenue - previous year sales revenue) / previous year sales revenue * 100

Profit growth (decline) (%) = (reporting year net profit - previous year net profit) / previous year net profit * 100

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

Short-term liabilities coverage ratio (times) = reporting year current assets / reporting year short-term liabilities

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

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

Jaen Uussalu

Board Member