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's activity report 2022

General information

AS Espak's main activities are retail and wholesale of construction goods and international road transport. The joint-stock company is based on 100% Estonian capital.

The general macroeconomic development of the operating environment, including increased competition, the impact of inflation, especially in the second half of 2022, has had some impact on the financial results of the reporting year of the joint-stock company. There have also been seasonal fluctuations in the company's business activities depending on weather conditions suitable for construction work, but the company's economic activity is not cyclical. The economic activities of the joint-stock company do not involve significant environmental and social impacts. During the financial year and also during the preparation of the report, no significant risks related to changes in exchange rates, interest rates and stock prices have emerged.

Business overview

Of the business revenues, 87,893,329 euros are made up of sales revenues of 98.6% or 86,693,601 euros. Sales revenue increased by 12.1% compared to the previous year, including cash and card sales increased by 11.55% compared to the previous reporting period and invoice sales increased by 12.64%.

Compared to the previous year, goods and services were sold for an additional 9,359,931 euros. During the reporting year, export production was sold for 5,898,722 euros, which increased by 7.18%. Transport services were provided for 578,794 euros, which increased by 5.25%.

Profit

AS Espak earned a net profit of 4,941,267 EUR in 2022, which is 10.68% higher compared to the previous period.

Investments In 2022, 2,293,977 EUR was invested in fixed assets and real estate, of which 2,018,076 EUR were expenses for new construction.

Salary and staff In 2022, the joint-stock company employed an average of 230 employees. The average salary in 2022 was 1,934 EUR (the average in 2021 was 1694 EUR).

The average salary increased by 14.17%.

There are three members in the board and council. No benefits have been given to the members of the board and council.

Future plans

AS Espak will continue its traditional business in the field of construction and interior materials sales. The main goal is to improve competitiveness, including improving the level of customer service, maintaining existing sales areas and taking new ones into use.

The war in Ukraine that started on 24.02.2022 and the imposed sanctions affect the activities of AS Espak both directly and indirectly, but the impact is not significant.

In 2023, the company will invest 0.4 million euros in lifting and transport equipment. We are preparing to start construction activities on the properties at Veerenni 61 and 63 and Veerenni põik 4 and 6.

We are developing the company's digital capabilities, including e-channel trading.

The management estimates that the joint-stock company will continue to operate for the next 12 months.

Main financial ratios: 2022 2021

Sales revenue 86,693,601 77,333,670

Revenue growth, 12.10 1.57

Net profit 4,941,267 4,464,506 profit growth, decrease (%) 10.68 29.82

Net profitability (%) 5.70 5.77

Short-term liabilities coverage ratio 4.88 4.61

ROA (%) 6.95 6.68