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's activity report 2022

The main activity of AS TTP is real estate development and construction. EMTAK code 41201 Construction of residential and non-residential buildings.

AS TTP owns 100% of the subsidiary OÜ CBD Varahaldus, which is engaged in real estate development, and 50% of the associated companies OÜ Logi Projekt and OÜ Kreutzwaldi Maja, both involved in real estate development.

In the early years of the company, they started providing repair and renovation services to individuals and companies, and building private houses on order. Since 1996, they have specialized in residential construction through development activities. They implement large-scale real estate development projects, applying their technological skills to create very valuable living environments for people. Projects must add something valuable to the Estonian architectural or living environment heritage.

AS TTP owns environmentally friendly gas boiler houses in Tallinn, in the Padriku residential area of Pirita district and on Tornimäe, and is engaged in the production and marketing of thermal energy in these areas.

AS TTP provides sauna services and rental services at Vana - Kalamaja 9A.

If the macroeconomic environment has previously been favorable for construction companies, then in 2022 there was a lot of uncertainty in the construction market.

In 2015, the construction of Pöörise street houses began. During the financial year, the construction and sale of new apartment buildings continued. The construction and sales activities of the Järve street project also continued. The Järve tn object will be completed in 2023.

in the first half of the year.

Economic activity is year-round and there is no seasonality in it. According to the management, there are no environmental and social impacts associated with the activity.

During the financial year, real estate investments were acquired for a total of 697 thousand euros and 162 thousand euros were invested in fixed assets.

During the financial year, the properties Taludevahe 57, 59 were purchased. A property at Põõsa tee 3 was also purchased where construction began.

There were no significant research and development expenditures during the reporting year.

The company was not affected by fluctuations in exchange rates and changes in interest rates.

The sales revenue of AS TTP for the financial year was 26 230 757 euros (2021: 23 445 122 euros). The profit for the financial year was 9 897 809 euros (2021: 6 036 845 euros). The average number of employees during the financial year was 31 people (2021: 34). The total amount of wages and additional payments paid to employees during the financial year was 874 672 euros (2021: 813 008 euros).

The board of AS TTP is single-member. No remuneration was paid to the members for the work of the board and the council.

In 2023, all the above-mentioned services will continue to be provided.

Main financial ratios 2022 2021

Sales revenue (euro) 26 230 757 23 445 122

Revenue growth 11.88% 127.88%

Net profit (euro) 9 897 809 6 036 845

Profit growth 63.96% 283.67%

Net profitability 37.73% 25.75%

Short-term obligations coverage ratio 21.31 10.19

ROA 19.62% 13.27%

ROE 21.56% 14.77%