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's activity report 2022

AS Hevea is a company established in 1991, whose main activity is the production of technical rubber parts with press molds. We combine rubber, metal, and plastic. We also produce various rubber compounds.

The company is part of the Formgummigruppen Swedish group. AS Hevea has an ISO 9001:2000 certificate. The certifier since 2009 is

Lloyd`s Register Quality Assurance Ltd. AS Hevea's goal is to produce environmentally friendly, high-quality rubber products that meet customer requirements.

AS Hevea's activity is related to the general economic global situation, but this does not significantly affect stability. Business is not dependent on the season or the cyclical nature of economic activity. In the management's opinion, the company's activities do not have significant environmental and social impacts.

If necessary, it is necessary to change the number of employees and plan the volume of investments accordingly.

We are constantly improving the working environment and comply with applicable laws.

AS Hevea's main financial ratios: 2022 2021

Sales growth (%) 2.1% 17%

Net profit growth (%) 9% 45%

Net profitability (%) 12% 11%

Short-term liabilities coverage ratio (times) 3.2 3.5

ROA (%) 8% 8%

ROE (%) 10% 8%

Formulas for calculating financial ratios: sales growth% = [(sales 2022-sales 2021) / sales 2021] *100 net profit growth (%) = [(net profit 2022-net profit 2021) / net profit 2021) *100 net profitability (%) = (net profit / sales) *100

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

ROA% = (net profit / assets) *100

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

About 88% of sales revenue is earned outside Estonia.

During the financial year and the period of preparation of the report, no risks related to changes in exchange rates or interest rates have emerged.

9,770 euros were invested in 2022 for production development.

Investments in new machines and equipment are planned for 2023 in the amount of 300,000 euros.

Our goals for 2023 are to ensure steady growth in production.

The average number of employees in 2022 was 50 and the total amount of wages and additional payments was 1,071,743 euros.

The remuneration paid to the board in 2022 was 151,648 euros.

No remuneration has been calculated or paid to the chairman and member of the AS Hevea council.

AS Hevea manager

Teet Palmse