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Already 3,298 people have seen this company's branding and they are being followed by 34 Storybook user.In average the company has been rated 4.6 points ja kommenteeritud 7 korda.

's activity report 2022

1. Company Overview

JOINT STOCK COMPANY MODERN LIGHTING is a wholesale, retail and project sales company for lighting fixtures. We have been operating in Estonia since 1992.

Outside of Estonia, our customers are construction material stores in Latvia and Lithuania.

The showroom of JOINT STOCK COMPANY MODERN LIGHTING is located in Tallinn, Rävala pst 7. It is also possible to familiarize yourself with the product range at the Tartu sales office, which is located at Teguri tn 37B.

2. Business Activity

The sales revenue of JOINT STOCK COMPANY MODERN LIGHTING in the reporting year was 6.37 million euros (2021: 5.65 million euros), which has grown by 13% compared to the previous year. The net profit for 2022 was 0.48 million euros (2021: 0.37 million euros), which grew by 30% compared to the previous year.

Last year's sales results met management's expectations. The active construction market in both the public and private sectors continued to have a positive impact on sales growth. The growth in project sales had a greater impact on the sales result of the past year. Wholesale results remained at the same level. High inflation in the last quarter had a negative impact on wholesale, causing changes in customer buying behavior.

Significant events of 2022: - Completion of the renovation works of the JOINT STOCK COMPANY MODERN LIGHTING showroom in Tallinn in March 2022. In the second quarter, we successfully held introductory events for clients in the renovated showroom.

- Starting cooperation with several new suppliers to offer our partners a wider range of lighting fixtures.

- 2022 was the 30th anniversary of JOINT STOCK COMPANY MODERN LIGHTING. Various marketing events took place, culminating in an anniversary party in October of the previous year.

The company's board is single-member and the council is three-member. No remuneration was paid to the members of the board and council during the reporting year.

The auditing of JOINT STOCK COMPANY MODERN LIGHTING was performed by sworn auditor Mai Palmipuu from ASSERTUM AUDIT LIMITED LIABILITY COMPANY.

3. Shares and Shareholders

As of 31.12.2022, 80% of the share capital of JOINT STOCK COMPANY MODERN LIGHTING belongs to EGLO LEUCHTEN GMBH, located at Heiligkreuz 22, A-6130 Pill, Austria and 20% to Mart Seidelberg, located in Tallinn, Estonia. EGLO LEUCHTEN GMBH is one of the largest manufacturers of home lighting in the world.

4. Outlook for 2023

The outlook for the next 12 months in the construction and real estate sector has significantly deteriorated. High inflation, energy prices and rapidly rising interest rates significantly affect the stability of the real estate and construction market. The uncertainty prevailing in the real estate market will affect the company's sales results for the beginning of the year. We forecast a turnover decline of up to 10% compared to the previous year.

5. Key Financial Ratios and Their Calculation Methodology

Payment coverage ratio (liquid assets + receivables + inventories / short-term liabilities) 2022: 3.40 2021: 3.04

Overall debt ratio (debt capital / balance sheet total) 2022: 0.26 2021: 0.29

Days of cash receipt (buyer's debts / (sales revenue / 360)) 2022: 60 2021: 87

Mart Seidelberg

Board Member January 30, 2023.

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