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's activity report 2022

Introduction.

The year 2022 turned out to be successful for the company. The biggest success could be the successfully fulfilled delivery contract of Koncar KEV trams from the Croatian manufacturer to the city of Liepaja. Despite the Russian-Ukrainian war, cooperation with the Ukrainian Dnipro wheel manufacturer continues and expands. In previous years

We have found replacements for railway materials purchased from Russia either from Ukraine or elsewhere in Europe.

In 2023, we expect significant growth in turnover and significant profit growth.

The biggest project in 2023 is the supply of construction materials for the construction of tram tracks in the old port of Tallinn, including tram rails from the French manufacturer

Saarstahl, tram wheel sets from the Czech manufacturer Praska Stroijrna, wheel set automation from the Czech manufacturer Elektroline and insulation of rails from the German manufacturer Seal-able,

Representation agreements and long-term cooperation with leading railway construction material manufacturers allow successful participation in 1520 and 1435 mm railway tenders.

Unlike many competitors, we still keep the most demanded materials in stock, which allows us to quickly fulfill customer orders.

Risks

In the context of the ongoing decline in the world economy, companies involved in infrastructure construction and maintenance and the supply and production of related materials are in a relatively good position.

As most projects are co-financed by the EU or the state, the risks in terms of customer solvency are relatively low. Our sales are 90% related to objects funded either by countries or from EU funds.

In the spring of 2022, we completely stopped cooperation with Russia and Belarus and replaced the materials previously supplied from these countries with materials produced in Ukraine or

Materials produced in EU countries

There may be minor risks associated with supply chain problems and the resulting possible fines and other additional obligations. To some extent, fluctuations in exchange rates (UAH) affect the railway construction materials business, energy carriers and steel raw material prices.

Revenues, expenses and profit.

In 2022, OÜ Maksmi's sales revenue amounted to 3,120,017 euros. Of this, the sale of railway superstructure materials was 2,933,938 euros, other services provided are 186,079 euros. 48.3% of OÜ Maksmi's sales revenue was in Estonia, 30.15% in Lithuania, 14.9% in Latvia.

OÜ Maksmi's gross profit amounted to 723,279 euros. General administrative expenses were 426,724 euros, marketing expenses 53,342 euros. The company's profit for 2022 amounted to 227,889 euros

Maksmi OÜ is still an operating company.