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's activity report 2022

Introduction

Sateba Estonia OÜ is a manufacturer of concrete railway sleepers and infrastructure elements, which has been part of the Sateba Group, a leading European manufacturer of reinforced concrete sleepers and infrastructure elements, since April 2021.

The company has been operating

in the Baltic market since 1996.

The company's production unit is located in Lääne-Virumaa, Rakvere parish. The company has a 60% stake in the independent subsidiary UAB Sateba Lithuania in the Republic of Lithuania.

As of December 31, 2022, the shareholder of Sateba Estonia OÜ is the French company Ville Participations, with a 100% stake.

Main financial ratios 2021 2022

Sales revenue (in euros) 2 939 937 6 728 810

Turnover growth % -2.61% 128.9 %

Operating profit margin % -1.9% -2.9%

Net profit 11 604 - 178 951

Net profitability 0.4% -2.7 %

Coverage ratio of short-term liabilities (times) 10.9 4.4

ROA 0.3% -3.6 %

ROE 0.3% -4.5%

Formulas used in calculating ratios:  Turnover growth (%) = (sales revenue 2022 – sales revenue 2021)/ sales revenue 2021 * 100  Operating profit margin (%) = operating profit/sales revenue * 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 exchange rate changes

Transactions with suppliers and customers are conducted in euros, so there is no risk of exchange rate changes.

Investments

The volume of investments made during the reporting period in fixed assets was 161 511 euros, of which intangible fixed assets 93 967 euros.

Staff

The average number of employees in the financial year was 24.

Subsidiaries and associated companies

The company has a 60% stake in the independent subsidiary UAB Sateba Lithuania in the Republic of Lithuania, which is engaged in the production and marketing of reinforced concrete sleepers in the Republic of Lithuania.

General developments in the operating environment and their impact on financial results

The general operating environment was positive, but the company suffered significant economic damage before the start of military operations by fulfilling a public procurement contract concluded with AS

Estonian Railway, due to unforeseen price increases. Despite this, the management believes that the company's operations are sustainable.

Seasonality of business

The company's operations were not affected by seasonality or economic cycles.

Significant environmental and social impacts associated with operations

The company's operations do not have significant environmental or social impacts.

Goals for the next financial year

Next financial year plans to strive in the same market segment.

The operating environment The military conflict between Russia and Ukraine that began on February 24, 2022, has significantly affected and continues to affect the company's business operations. Although the availability of materials has improved, the soaring prices have not come down