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's activity report 2022

Introduction

Saint-Gobain Eesti AS deals with the sale of plasterboards, lightweight aggregate, insulation and sound insulation materials, as well as the production and marketing of dry construction mixtures in Estonia and other Baltic countries.

The dry mix factory is located in Aravete, plasterboards and insulation and sound insulation materials are imported from the countries of production.

In November 2021, the field related to construction glass was separated from the company by division, which deals with the production and sale of glass packages, laminated glass and tempered glass, for the continuation of which the company Baltiklaas OÜ was created (now renamed Konstruktsioonklaas OÜ), which is 100% owned by Saint-Gobain Eesti AS. On 28.02.2022, the business activity of Konstruktsioonklaas OÜ was sold and there is no longer any economic activity in this company.

The year 2022 as a whole was very active in the market and put pressure on production, supply chains and cost base, which was most affected by the rise in raw material and energy prices and during the year we were forced to make a series of price increases to maintain the profitability of the company.

The company is financially very strong and flexible and able to react quickly to changes in the situation.

There is no direct significant impact of the Russian-Ukrainian war on the activities of Saint-Gobain Eesti AS and it is also not foreseeable that such a significant negative impact could occur/emerge in the near future (during 2023). The conflict between Russia and Ukraine does not directly affect business activities, but there may be an indirect impact through the deterioration of the general economic environment, which in turn may affect the construction market. Since Saint-Gobain Eesti AS does not have partners in Ukraine or Russia, there have been no direct supply difficulties or other obstacles in daily activities.

Sales

The sales revenue for the reporting period amounted to 45,614 thousand euros, which decreased by 14,812 thousand euros compared to the previous period due to the separation of the field related to construction glass in November of the previous year. Sales to Estonia accounted for 89.8% of sales revenue and exports 10.2%.

Financial Overview

The profit of Saint-Gobain Eesti AS for the reporting period was 3,231 thousand euros (including dividend income of 604 thousand euros), which increased by 236 thousand euros compared to the previous year

Claims against buyers changed according to sales dynamics and customer payment behavior can still be considered strong. Significant attention was still paid to increasing the efficiency of the production process and controlling costs and optimizing working capital. In the financial year, there were no significant environmental and social impacts associated with business activities, according to the company's assessment.

Investments

A total of 214 thousand euros was invested during the reporting period (908 thousand euros in 2021). Investments were mainly made to replace depreciated fixed assets and in projects related to energy efficiency.

Personnel

The number of employees of Saint-Gobain Eesti AS did not change significantly as of 31.12.2022 compared to 31.12.2021.

31.12.2022 31.12.2021 Change

Employees 48 48 0

Labor costs for the reporting period 2,950 TEUR 7,695 TEUR -4,745 TEUR