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's activity report 2022

Introduction

ASSA ABLOY Baltic AS is the official representative of the Swedish lock manufacturer ASSA AB and a cooperation partner of other ASSA

ABLOY Group companies in Estonia, Latvia and Lithuania. In the Latvian and Lithuanian market, it operates

through branches of ASSA ABLOY Baltic AS. The main activity of ASSA ABLOY Baltic AS is the wholesale of products of companies belonging to the ASSA

ABLOY Group in Estonia, Latvia and Lithuania.

Developments in the construction sector were on a growth trend in all markets in 2022. Developments for 2023 are unclear.

Revenues, expenses and profit In 2022, ASSA ABLOY Baltic AS had sales revenue of 27,656 thousand euros. 100% of sales revenue came from the sale of locks and lock accessories.

Used in the calculation of ratios

Main financial ratios 2022 2021 formulas

Sales revenue (thousand euros) 27656 24696 (sales revenue 2022-sales revenue

Turnover growth +12% +11.7% 2021)/sales revenue 2021*100

Operating profit margin 15.8% 15.3% operating profit/sales revenue*100

Net profit (thousand euros) 4317 3688 (net profit 2022-net profit

Profit change +4.2% +4.2% 2021)/net profit 2021*100

Net profitability +17.1% +14.9% net profit/sales revenue*100

Short-term obligation coverage ratio 7 5.7 current assets/short-term obligations

ROA 23.2% 26.2% net profit/total assets*100

ROE 27.1% 31.8% net profit/total equity*100

Staff

The average number of employees of ASSA ABLOY Baltic AS during the financial year was 47 employees (46 employees in 2021). In 2022, the company's labor costs amounted to 2,560 euros (2,230 thousand euros in 2021), an increase of 14.8%.

Environmental analysis

ASSA Abloy Baltic AS has no significant environmental and social impacts associated with its operations.

ASSA Abloy Baltic AS has no financial instruments and risks associated with changes in exchange rates, interest rates and stock prices that emerged during the financial year and the period of preparation of the report.

Due to the war that started in Ukraine, there are supply problems for certain products, where delivery deadlines are longer. The war has not directly affected the economic activity of ASSA ABLOY Baltic AS.

Goals for the next financial year

The main goal of ASSA ABLOY Baltic AS for the next financial year is to develop the sales of existing products and strengthen the company's market position through expanding the range