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's activity report 2022

Cipax Eesti Joint Stock Company is a manufacturing company, whose main activity is the production of plastic products by the rotational molding method. The company started operations in 1994 and belongs to the XANO group based in Sweden. To better coordinate the work of rotational molding companies, a group Cipax Industri AB has been created in the group, which includes rotational molding companies in Sweden,

Norway and Estonia.

The sales revenue of Cipax Eesti Joint Stock Company was 14,929,419 euros in 2022, which has grown by 8.9% compared to the previous financial year. The increase in turnover was achieved thanks to the rise in prices, but our target markets did not grow. The tense situation in the world also affected the decrease in orders.

The increase in sales prices was due to the increase in input prices. The drivers of input price growth were energy carriers and raw materials.

As a result of the increase in sales prices, there were also cancellations of orders and so-called luxury goods orders were left out.

But there were also positive changes in the sales process. A salesperson for standard products started working in the company, who is responsible for sales in Finland and the Baltic States. In Finland, we were able to increase the sales of our standard underground products by 50%.

We continued cooperation with a German customer in assembling water treatment plants.

We continued cooperation with the Finnish customer Valtra tractor factory, which is still our largest customer.

New product implementation and ordering of new casting molds took place in cooperation with the customer.

Active product development for customer products and standard products is continuously taking place in the company. We manufacture casting molds for the production of customer products, which are designed by two engineers in our company.

In 2021, we purchased a new CNC machine, which is necessary for post-processing of products. The efficiency of using this machine has also proven itself in 2022.

Due to the decrease in orders in 2022, we have reduced our staff by 17 employees.

Environmental and social impacts

The production activity of Cipax Eesti AS has an impact on the environment from an environmental protection aspect.

The company has requirements and goals to keep the impacts associated with its economic activity under control. Environmental protection requirements are followed, which are mainly related to the use of gas in the production process. Compliance with the requirements is proven by the environmental management system certificate ISO 14001:2015.

Cipax Eesti AS also uses recyclable material as raw material. In 2022, an investment was made in the acquisition of a waste crusher, which allows for partial recycling of raw materials for new circulation. We also foresee a greater market demand for such material.

In social terms, the company has a positive impact, as it provides more jobs in the region