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's activity report 2022

1.Overview of activities.

The main activity of the joint-stock company is the processing and sale of liquefied gas.

Since 2002, AS Propane is fully owned by Estonian private capital.

In close cooperation with the Estonian Gas Association, AS Propane actively participates in the development of the liquefied gas market.

High demands on the quality of liquefied gas, customer service and flexible pricing policy have ensured the company a reliable partner reputation among the largest industrial and construction companies, intermediaries, and municipal and service companies.

Cooperation with Inspecta Estonia OÜ allows our company to successfully operate in accordance with applicable European standards and norms.

In 2022, AS Propane's sales revenue was 12,824,587 euros.

In 2022, AS Propane's net profit for the reporting year was 1,081,888 euros.

Equipment was purchased for 112,353 euros during the reporting year.

In 2023, AS Propane plans to continue with the same activity and has the opportunity to expand it.

In 2022, no significant research and development expenditures were made and none are foreseen for 2023.

2.Personnel.

The average number of employees at AS Propane during the financial year was 45 employees. In 2022, the company's labor costs amounted to 1,216,410 euros.

No remuneration was paid to the member of the company's board.

3.Risk of changes in exchange rates and interest rates.

Transactions with suppliers and customers take place in the following currencies: eur, usd.

The interest rate on the company's long-term loans is linked to EUROBIR.

In 2022, the net loss from exchange rates was a total of 134 euros.

The impact of changes in exchange rates in 2023 is very difficult to predict for AS Propane.

4.Main financial ratios.

2022 2021 12 824

Sales revenue, EUR 9 276 599 587

Growth in turnover, % 38.24 % 52.5 %

Net profit, EUR 1 081 888 303 702

Growth in profit, % 256.23 % 43.67 %

Net profitability, % 8.44 % 3.27 %

Coverage ratio of short-term obligations, times 4.66 4.06

ROA, % 22.03% 8.00 %

ROE, % 26.78 % 9.92 %

Formulas used in calculating ratios: - growth in turnover (%)=(sales revenue 2022-sales revenue 2021)/sales revenue 2021*100 -growth in profit (%)=(net profit 2022-net profit 2021)/net profit 2021*100 -net profitability(%)=net profit/sales revenue * 100 -coverage ratio of short-term obligations=current assets/short-term obligations -ROA(%)=net profit/total assets * 100 -ROE(%)=net profit/total equity * 100