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's activity report 2022

The main activities of Scandagra Eesti AS are the production and sale of animal feed, the sale of crop inputs (fertilizers, seeds, pesticides), the wholesale and retail sale of livestock farm supplies, and grain trade. The retail business unit deals with the sale of fertilizers, seeds, pesticides, feeds and livestock supplies in Jüri, Rakvere, Tartu, Viljandi, Võru, Pärnu and Kuressaare stores and in the online store.

Scandagra Eesti is certified according to ISO 14001 and ISO 9001 environmental and quality management standards.

The company's sales revenue in 2022 was 182 million euros, of which 104 million euros was sales to the Estonian market, 71 million euros was exports to other

European Union countries and 7 million euros was exports outside the EU.

Compared to 2021, sales revenue increased by 41%. The net profit for the reporting year was 3.1 million euros (the net profit for 2021 was 2.3 million euros).

The performance was positively influenced mainly by an effective product portfolio, successful risk management and a strong value proposition for farmers. The year was made difficult by the very wide range of input and grain prices. Volatility in the market was increased by various supply difficulties caused by war. The result was supported by a relatively good harvest year in Estonia, which improved the economic result of crop production. High milk prices ensured good survival of dairy farms, but the economic situation of pig farms deteriorated further during the year. In the second half of the year, a sharp rise in energy prices had a negative impact, which resulted in lower profitability of feed production and grain drying.

In 2022, the company employed an average of 119 employees (114 in 2021). The total remuneration calculated by the company during the financial year amounted to 2,766 thousand euros (2,538 thousand euros in 2021).

During the reporting period, 1.0 million euros were invested in fixed assets, mainly renovating the feed factory and elevator equipment and production lines.

In the coming years, the level of investment is planned to be maintained at the same level to maintain and improve the efficiency of the grain and feed supply chain.

In the coming years, the priority is to maintain the return on business capital and the sustainability of the entire company through investment, a motivated team and effective inventory management.

Development activities in 2023 are mainly related to improving the efficiency of the supply chain, digitalization and reducing energy consumption. We continue

Scandagra's communication program by providing farmers with operational information and organizing neutral practical tests in the fields.

The main risks for Scandagra in the new year are also customer credit risk and the risk of changes in grain and fertilizer market prices. From the point of view of the realization of credit risk, the yield of fields and the prices of agricultural products are important. Thanks to high grain prices, customers were able to meet their obligations well in 2022 and overdue debts fell during the year. Scandagra hedges the risk of fluctuations in the world market price of grain with the help of appropriate financial instruments and these fluctuations do not have a significant impact on the company's financial results.

Scandagra's business activities cover the entire calendar year, the peak period can be considered the beginning of the grain harvest season at the end of summer.

Scandagra's activities do not have significant environmental and social impacts.

The main ratios of the company:

The formulas used to calculate the ratios 2022 2021

Sales growth %=(sales revenue 2022-2021)/sales revenue 2021*100 41.2 8.7

Gross profit margin (%)=gross profit/sales revenue*100 6.6 7.8

Net profitability (%)=net profit/sales revenue*100 1.7 1.8

Short-term liabilities coverage ratio(times)=current assets/short-term liabilities 1.7 1.2

Return on assets (%)=net profit/total assets*100 3.7 4.9

Return on equity (%)=net profit/total equity*100 18.5 17.7