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's activity report 2022

AS Saare Fuel was established in 1993.

The main activities of AS Saare Fuel are the retail and wholesale of liquid fuels and lubricants, and the provision of transport services.

In 2022, AS Saare Fuel continued its traditional business activities.

In the fiscal year, retail sales accounted for 87% of sales revenue and wholesale for 13%.

The increase in sales revenue in 2022 compared to the previous year is due to the rise in fuel market prices.

The company's turnover was higher during the summer period from May to August, when tourist visits increased, and in September due to the harvest in agriculture.

The company's purchase and sale transactions are mainly carried out in euros, and therefore there is no significant exchange rate risk.

Due to the structure of AS Saare Fuel's loan obligations, the company assesses the risk of interest rate changes as low.

In 2022, the company's credit losses totaled 1227 euros. Continuous monitoring of the solvency of existing and potential customers is carried out.

There are no significant environmental and social impacts associated with the activities of AS Saare Fuel.

As of December 31, 2022, there were 28 employees in the joint-stock company.

In 2022, the company's labor costs amounted to 722 477 euros.

The main goal of AS Saare Fuel for 2023 is to maintain the company's market position.

In 2023, the company will invest in the acquisition of new equipment.

Main financial ratios 2022 2021

Sales revenue 11 710 795 8 801 473

Change in sales revenue 33% 19.5%

Net profit 105 175 131 932

Coverage ratio of short-term obligations 6.1 7.19

ROA 6.2% 8.8%

ROE 7.3% 9.9%

Formulas used in calculating ratios: # Sales revenue growth (%) = (sales revenue 2021 - sales revenue 2022)/ sales revenue 2021 * 100 # Coverage ratio of short-term obligations (times) = current assets/ short-term obligations # ROA (%) = net profit(loss)/ total assets * 100 # ROE (%) = net profit(loss)/ total equity * 100