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's activity report 2022

AS Elke Rakvere's activities include the retail sale of new and used vehicles, the provision of maintenance and repair services, and the sale of spare parts and accessories. The company is an official sales and repair representative for Toyota vehicles. In addition to Toyota vehicles, the company also maintains and repairs vehicles of other brands.

The financial year 2022 was affected by the aftermath of the COVID-19 pandemic and the war that Russia started against Ukraine on 24.02.2022. As a result of the war, the prices of all energy carriers skyrocketed, which in turn affected the prices of goods and services. The availability of cars for some models became more stable, but was not comparable to the normal functioning of the supply chain. In the fourth quarter, there was a significant increase in economic uncertainty among customers, which began to affect purchasing decisions, and the number of order contracts decreased significantly.

According to the Estonian Association of Automotive Sales and Service Companies, a total of 20,426 passenger cars and 4,953 commercial vehicles were sold in Estonia in 2022, a total of 25,379 vehicles, i.e. 7.8% less than in 2021.

According to the data of companies engaged in car sales in Virumaa, a total of 1,361 vehicles were sold in Virumaa in 2022, the number of vehicles sold decreased by 69 cars compared to 2021, which is -4.8%. Elke Rakvere AS was the most successful car sales company in Virumaa in 2022, selling 204 vehicles, which is 19 vehicles more than in 2021, an increase of 10.2%. Elke Rakvere's sales accounted for 15.0% of the market share of vehicles sold in Virumaa.

Revenues, expenses and profit The sales revenue for 2022 was 9,174,740 euros, an increase of 1,291,189 euros or 16.4% compared to 2021. The gross profit was 1,757,986 euros, an increase of 16.1% compared to 2021.

Sale of new and used vehicles

Elke Rakvere AS sold 204 new vehicles in 2022, i.e. 19 cars or 10.3% more than in 2021.

The sales revenue of new vehicles was 6,078,675 euros, i.e. 1,219,202 euros more than in 2021, an increase of 25.1% compared to the previous year.

The gross profit increased by 61.3% compared to 2021 and was 373,769 euros.

The sales revenue of new vehicles accounted for 66.0% of the company's sales revenue.

44 used cars were sold, i.e. 2 cars less than in 2021. Compared to 2021, sales revenue decreased by 151,118 euros, i.e. 17.4%.

The gross profit decreased by 5,181 euros, i.e. 7.6%. The sales revenue of used vehicles accounted for 7.8% or 719,487 euros of the company's sales revenue.

The total profit from car sales increased by 45.6% in 2022 and was 437,160 euros.

Post-sale maintenance and repair

Vehicles maintenance and repair services were sold for 610,084 euros and body and paintwork related services for 283,150 euros, a total of 893,234 euros was sold for post-sale maintenance and repair services, which accounts for 9.7% of the company's sales revenue. The sale of post-sale maintenance and repair services increased by 10.5% or 84,718 euros more than in 2021.

Sale of spare parts and accessories

The sales revenue of spare parts and accessories accounted for 15.5% of the company's total sales revenue and was 1,428,9747 euros. Compared to 2021, sales revenue increased by 10.4% or 136,057 euros.

Other sales revenues (including car rental) account for 0.8% or 72,100 euros of the company's sales revenue.

Main financial ratios

The following ratios characterize the economic activity of AS Elke Rakvere: 2022 2021

Sales revenue 9,174,740 7,883,551

Revenue growth, decline 16.38% 23.7%