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's activity report 2022

AS Eolane Tallinn is a company belonging to the Eolane Group, which is engaged in the production and sale of electronics industry equipment. In addition, they actively provide product and test system development services, prototyping services, and after-sales services.

Summary of the year 2022. Challenges with the availability of microchips and semiconductors in supply chains continued. However, in the last quarter of the year, a cooling of global demand and an increase in manufacturers' production capacities were noticeable, which resulted in an improvement in the availability of components. The complexity of component availability posed significant challenges in production and workforce planning. As a result, we had to find ways to retain existing staff in the first half of the year. In the second half of the year, we produced at double capacity to fulfill all orders postponed from the first half of the year, which meant the company had to recruit temporary additional workforce. The year was also characterized by inflation resulting from high energy prices, which led to an increase in the cost base, which in turn necessitated passing on the price increase to customers. Nevertheless, the year was successful overall, with sales revenue increasing by 34.7% compared to 2021, which in turn helped to cover the increased cost base and maintain profitability. A broader price increase for all customers took place in January 2023.

Main financial ratios 2022 2021

Sales revenue (thousand euros) 64 958 48 239

Sales revenue growth 34.7% 1.0%

Operating profit margin % 4.4% 5.7%

Net profit (thousand euros) 2 606 2 470

Profit growth 5.5% 141.0%

Net profitability 4.0% 5.1%

Short-term liabilities coverage ratio 1.6 1.7

ROA (Annual profit/liabilities and equity in total) 5.9% 6.6%

ROE (Annual profit/equity in total) 13.5% 14.7%

Formulas used in calculating ratios:

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

Operating profit margin (%) = operating profit/sales revenue * 100

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

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

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

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

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

Significant environmental and social impacts

The company's goal is to continuously improve the effectiveness of environmental activities in cooperation with customers, suppliers, and all stakeholders. The company sets annual environmental goals and action plans and monitors their implementation.

2022 will be remembered for high inflation and the arrival of Ukrainian war refugees on the labor market.

To curb the decline in our employees' real wages, we made two general wage increases during the year instead of one. We recruited a considerable number of war refugees, who have become diligent and loyal employees.

The Corona era changed our employees' health behavior. Due to the closure of sports clubs and the entry ban for unvaccinated people, sports compensation was no longer relevant for many employees. Considering the profile of our employees, we supplemented our value proposition with employer health insurance. This benefit is for employees