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's activity report 2022

Introduction

The main activity of A.Tammel AS Group is the sale, maintenance and rental of agricultural machinery, equipment and their spare parts. In 2022, the group's traditional business activities continued.

In 2022, A.Tammel AS's consolidated sales revenue was approximately 6,330 thousand €, of which 79% was from the sale of agricultural machinery and 17% from the sale of spare parts.

By product group, 49% of the sales revenue from agricultural machinery was from the sale of loaders, tractors and their additional equipment and trailers.

36% was from the sale of soil cultivation machines. 10% was from the sale of grass machines. 4% was from the sale of grain crushers, coolers and light trailers.

The consolidated net profit of A.Tammel AS was approximately 196 thousand €. Assets are 5,690 thousand €, 82% of which were acquired from equity.

Main financial ratios 2022 2021 2020 2019 2018 2017

Sales revenue thousand € 6330 5147 3623 3888 4545 4777

Sales revenue growth/decline 23% 42.1% -6.8% -14.5% -4.9% 9%

Profit thousand € 196 154 14 32 15 19

Profit growth/decline 27.4% 989% -56% 113% -20% 106%

Net profitability of sales revenue 3.1% 2.99% 0.4% 0.8% 0.3% 0.4%

Coverage ratio of short-term liabilities 4.8 3.9 3.4 3.5 3.1 3.6

ROA 3.4% 2.7% 0.2% 0.6% 0.3% 0.3%

ROE 4.2% 3.4% 0.3% 0.7% 0.4% 0.2%

Formulas used in calculating ratios:

Sales revenue growth % =(sales revenue 2022 - sales revenue 2021)/ sales revenue 2021 x 100

Profit growth % = (net profit 2022 - net profit 2021)/ net profit 2021 x 100

Net profitability of sales revenue % = net profit/sales revenue x 100

Coverage ratio of short-term liabilities (times) = current assets/short-term liabilities

ROA = net profit/total assets x 100

ROE = net profit/total equity x 100

Subsidiaries

Türi Bel-Est OÜ 2022 sales revenue 1,342 thousand € and net profit was 66 thousand €.

Leho Kaubandus OÜ 2022 sales revenue 444 thousand € and loss -22 thousand €.

In 2022, the average number of employees in A.Tammel AS, including subsidiaries, was 23 people. In 2022, the company's consolidated labor costs were 539 thousand €. The members of the company's board were paid 62 thousand €.

General macroeconomic development and impact on financial results

The increasing competition in the sector selling agricultural machinery and equipment in the domestic market and the entry of new brands have positively influenced the overall development of the company. We have continued to invest in bringing new products and brands to the market and advertising these goods. Active sales work and the company's expanded product range have helped to increase turnover by 23% compared to the previous year. We are using a new business software Dynamics 365 Business Central. We have achieved most of the goals set for 2022.

Seasonality of business

The company's economic activity is year-round. However, since a large part of our clients are companies related to agriculture, sales revenue increases in the spring-summer period and slows down again in late autumn. Therefore, it can be said that the company's activity is somewhat seasonal.

Environmental and social impacts

There are no environmental and social impacts associated with the company's economic activities.

Risks associated with changes in exchange rates, interest rates and stock prices

The company does not have risks associated with changes in exchange rates, interest rates and stock prices, as currency transactions are minimal during the financial year. All financial instrument interest rates are linked to Euribor and the company is not listed on the stock exchange.