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's activity report 2022

OÜ Ursus's main activity is the wholesale of consumer goods and household goods in Estonia and export markets. The main target countries for export sales are Latvia and Lithuania. OÜ Ursus's main customers are retail chains and stores, but we also sell goods to e-stores, construction stores, pharmacies and other wholesale companies.

The company's product portfolio includes a wide range of consumer and household goods under both our partners and OÜ Ursus's own brands. Among the better-known brands, we represent, among others, Jordan, Tefal, WMF, Leifheit, Dr.Beckmann

Products of Tescoma and Spontex brands. For most of the brands in the product portfolio, the company has an agreement for the representation of the brands in the Estonian market, but OÜ Ursus has the right to represent the manufacturer's brand in other markets, mainly in Latvia, Lithuania but also in Finland.

In addition to wholesale, the company is engaged in enriching the assortment by developing various product categories and products under its own brands.

Through product development activities, we can offer our customers and partners distinctive and innovative products that meet local market demand. In addition to offering own brand products, we have developed several product solutions under our customers' brands in cooperation with our customers.

In 2022, the company's operations were influenced by several international and wide-ranging processes. The direct impact of the coronavirus and related restrictions that affected operations and the environment in previous years was not as significant in 2022 as in the previous two years. However, indirect effects of processes that began then, such as the rise in raw material prices, the rise in prices for certain types of transport, and the extension of delivery times, continued to contribute to the continued rise in prices for several goods. The effects of the war that began in Ukraine in February 2022 were added to these processes. The challenges that emerged in 2022 include very high general inflation in Estonia and other

Baltic countries, high energy prices and increased interest costs, all of which directly or indirectly affected consumption and the company's costs.

Despite the aforementioned challenges, 2022 was still a successful year for OÜ Ursus and the company's sales revenue increased by 7.2% compared to the previous period, reaching 7.625 million euros. The increase in turnover occurred both in terms of various suppliers' brands and own production. The company's net profit for 2022 was 439 thousand euros, which was also a better result compared to the previous period.

For 2023, the company has planned a continued growth in sales volumes in both domestic and export markets. The focus of the growth targets planned for 2023 is on increasing the sales of several main brands in the product portfolio and own brand products in both export markets and

the Estonian market.

In 2022, OÜ Ursus continued to invest in the new economic software and IT infrastructure development implemented in 2021, with the aim of streamlining both sales processes and warehouse management.