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's activity report 2022

Iriscorp Transport OÜ is a company that specializes in the transportation of forest materials, the purchase and sale of forest materials, the processing of growing forests, forest renewal, the cultivation of vegetables and root vegetables, and the buying and selling of forest properties. In 2022, Iriscorp Transport OÜ had a sales revenue of 21,458,108 euros, which was distributed as follows: 18% from transportation services, 65% from the sale of forest materials and logging, 4.8% from the sale of biomass, 11% from comprehensive forest over-processing services, and 1.2% from other sales revenue. In 2022, the company made a profit of 1,239,425 euros, which is twice as much as in 2021. In 2022, the prices of materials and services increased dramatically, but fell by the end of the year. The war in Ukraine did not negatively affect the company's operations. Most of the forest material was sold in Estonia in 2022. The main focus of providing transportation services was on RMK services and the company's own material transportation. The weather conditions in 2022, which are very important in our operations, were relatively favorable. There was no time when the operation had to be covered for a moment. In 2022, 115.3 ha of properties were acquired, 156.1 ha were realized, and 143,365 tm of forest material was sold. Greater emphasis is still placed on the developed forest purchase system and processing in 2022, and the work area is expanded. As in previous periods, equipment is also being updated. In 2016, we applied for a PEFC wood certificate, which significantly strengthens our position in the timber market. An annual audit is also carried out in this area. Forest reserves are accounted for with the help of the computer program Deskis, which provides an ongoing overview of the status of assets and stocks. The company's main business activity is investing in forests and forest land. The forest is reflected as a biological asset, depending on its growth stage, either as a current or fixed asset. As of the end of 2022, the company pays 45 wage workers and one person working under a board member's contract. The company also uses rental labor for 6 people. The board consists of two members. One board member's work is paid. In 2022, a total of 54,531 euros was paid to the board. The initial data (thousand EUR) for 2021 and 2022 are as follows: Current assets 4504 4971, Short-term liabilities 3838 3873, Cash 9.4 565, Liabilities 7606 7636, Assets 11,423 12,693, Sales revenue 15,218 21,458, Profit for the reporting year 627 1239, Equity 3,817 5057. The financial ratios for 2021 and 2022 are as follows: Net working capital or working capital Current assets-Short-term liabilities 666 1098, Short-term debt coverage ratio Current assets / Short-term liabilities 1.17 1.28, Debt ratio Total debt / Assets 0.67 0.60.