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's activity report 2022

AS Metaan is a 100% privately owned joint-stock company, which has been operating since 1996. The board of the joint-stock company consists of one member. The council consists of three members. The company owns one 100% subsidiary, whose main activity is catering.

The main activity of the company is the retail trade of household appliances and electronics. AS Metaan operates under the Euronics brand with a store employing 34 people in Tartu Lõunakeskus.

In 2022, no significant investments were made in the company's fixed assets. No major investments in fixed assets are planned for 2023.

The field of activity of AS Metaan is retail trade. The development of retail trade is closely related to general economic growth and environment. The Estonian economy in 2022 is characterized by a general cooling down, accompanied by a decline in private consumption. According to Statistics Estonia, Estonia's gross domestic product fell by 1.3% in 2022. The consumer buying boom that started during the coronavirus pandemic has turned into a decline. AS Metaan's sales revenue decreased by -1.37% compared to 2021. A sharp difference in consumer behavior was noticeable in the fourth quarter. The seasonal increase in turnover characteristic of the fourth quarter each year did not materialize compared to the previous year.

The company has no significant financial risks.

Consumer confidence in Estonia in 2022 was low. At the end of 2022, a slowdown in inflation was noticeable. Energy prices stabilized. Against this background, economic activation can be expected, and in the second half of 2023, consumers may show more active buying interest. However, the new financial year still brings a lot of uncertainty, which is fostered by political events and developments in the world economy.

In a situation where political events lead to changes in the economic environment, the board lacks the ability to give estimates for the upcoming period and make forecasts for 2023, as the external factors affecting the company's operations are very different.

Main financial ratios: 2022 2021

Operating profitability 3.25% 3.85%

Net profitability 2.71% 3.38%

Equity ratio 42.3% 38.6%

ROA (return on assets) 12.6% 14.5%

ROE (return on equity) 31.3% 38.5%

Inventory turnover 7 7.9

Formulas used in the calculation of ratios: (cid:127) Operating profitability(%) = operating profit/sales revenue*100 (cid:127) Net profitability(%) = annual profit/sales revenue*100 (cid:127) Equity ratio (%) = equity/ total liabilities and equity *100 (cid:127) ROA(%) = operating profit/average asset volume*100 (cid:127) ROE(%) = operating profit/average equity*100 (cid:127) Inventory turnover = cost of goods sold/average inventory.

The average indicator is found as the average of the reporting period and the comparable period.