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's activity report 2022

Introduction

AS Espak Tartu is a company based on 100% Estonian capital, mainly engaged in the retail and wholesale of construction and interior goods, and to a lesser extent in the rental of non-residential premises owned by the company. The place of business was and is Turu 24/Rebase 16, Tartu. In 2022, AS Espak Tartu's traditional business activities continued.

Business overview In 2022, AS Espak Tartu's sales revenue amounted to 10,908,205 euros and in 2021 the sales revenue was 9,522,857 euros.

Sales revenue increased by 14.9% in 2022 compared to the previous year and by 10.4% in 2021 compared to the previous year.

There were no significant research and development projects. Business activities do not have environmental and social impacts. Business is not seasonal and economic activity is not cyclical.

Investments In 2022, 8,600 euros were invested in fixed assets and 3,751 euros in 2021. Real estate investments amounted to 170,646 euros in 2022.

Main financial ratios 2022 2021

Sales revenue 10,908,205 9,522,857

Sales revenue growth % 14.9% 10.4%

Operating profit 591,691 534,627

Net profit 575,079 518,008

Profit growth % 11.01% 23.6%

Net profitability % 5.3% 5.4%

Current assets 4,061,326 3,760,187

Short-term liabilities 1,359,605 1,437,834

Coverage ratio of short-term liabilities 2.9 2.6

Total assets 6,088,227 5,693,425

Equity 4,728,622 4,255,591

ROA (%) 9.4% 9.0%

ROE (%) 12.2% 12.2%

Formulas used to find the financial indicators presented in the activity report:

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

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

Net profitability (%) = net profit/ sales revenue * 100

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

ROA (%) = net profit / total assets * 100. ROE (%) = net profit / total equity * 100

Risk of changing exchange rates and interest rates

Transactions were in euros. There were no risks arising from changes in exchange rates and interest rates.