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's activity report 2022

The Estonian Dairy Producers Cooperative was established in 1997 with the aim of supporting and promoting the economic interests of its members through joint economic activity. The main activity of the cooperative is the joint sale of milk and the joint purchase of farm goods, fuel and electricity necessary for members.

In the reporting year, the total number of cooperative members decreased by 2 members - by the end of the year there were a total of 27 members, of which 18 were legal entities and 9 were sole proprietors.

At the end of the year, the cooperative members had 3,862 dairy cows (4,381 in the previous year). The producers are divided by herd size as follows: up to 50 cows - 4 herds; 51 - 100 cows - 13 herds; 101 - 200 cows - 6 herds; 201 - 500 cows - 4 herds; over 500 cows - 1 herd. The base price of the milk purchased is the same for all members of the cooperative. At the beginning of 2022, the price of the milk to be purchased was 380.90 euros/ton, at the end of the year 540.10 euros / ton. The average purchase price for the year was 456.27 euros / ton (322.56 euros / ton a year ago).

Revenues, expenses and profit in 2022. Sales revenue amounted to 17.9 million euros, increasing by 2.7 million euros over the year. 88.6% of sales revenue was made up of milk purchased from cooperative members for resale. In recent years, the raw milk buyer has been TÜ EPIKO. During the reporting year, farm goods were sold to cooperative members for 2.0 million euros. The year ended with a profit of 7,000 euros.

Indicators 2021.a. 2022.a. change

Sales revenue (thousand euros) 15 165 17 952 + 18.4 %

Purchased milk (thousand tons) 41.06 34.75 - 15.4 %

Average price of purchased milk (eur/tn) 322.56 456.27 + 41.5 %

Sold milk (thousand tons) 41.06 34.75 - 15.4 %

Average price of sold milk (eur/tn) 323.87 457.50 + 41.3 %

Operating profit (thousand euros) 19.1 -3.2 - 22.3 thousand €

Net profit 25.3 7.0 - 72.3 %

Net assets (thousand euros) 643.0 645.4 + 0.4 %

Goals for the next fiscal year

Since 2009, the cooperative has been selling milk to TÜ EPIKO, of which it has been a member since November 2008. Sales will continue in 2023. The average daily milk sales volume in 2022 was 95.2 and in 2021 it was 112.5 tons. The Estonian Dairy Producers Cooperative continues to purchase milk from its members, jointly purchase production inputs, organize cooperative meetings and discuss development issues together

with EPIKO. EPTÜ is actively cooperating and participating as a shareholder in the operation of the rapeseed cake factory of Farm In Holding OÜ / Farm In

Production OÜ in Imavere.

The board believes that the cooperative is still an operating company.