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's activity report 2022

The main activity of OÜ Palmse Mehaanikakoda is the production and sale of forestry machines. The company's production unit is located in Võsu. OÜ Palmse

Mehaanikakoda mainly markets its products abroad and partly in Estonia.

Key financial ratios of the group as of 31.12.2022 31.12.2021

Operating profitability 13.22 % 3.22 % (%)-operating profit/sales revenue

Net profitability(%)-net profit/sales revenue 13.78 % 3.2 %

Equity 80 % 78 % solidity ratio(%)-equity/total assets

ROA 16.42 % 3.83 % (%)-net profit/total assets*100

ROE(%)-net profit/equity*100 20.3 % 5 %

Balance sheet and cash flows.

The group's balance sheet total as of December 31, 2022, was 32,479,556 million euros.

As of the end of the reporting year, the Group had long-term liabilities of 1,723,508 euros and short-term liabilities of 4,485,181 euros.

Revenues and profit.

Sales of forestry machines to EU member states and exports accounted for 98% of total turnover, Estonian sales 3 %.

The group ended 2022 with a profit.

In 2017, Palmse Mehaanikakoda acquired 100% of Ferrel AS shares with the aim of solving production bottlenecks with the help of a subsidiary.

However, Ferrel AS is a separate company that also produces and sells its own products.

The company's plans for 2023 include entering new markets, continuing operations in existing markets. The company is constantly engaged in product development and improving and updating its products.

To cope with the ongoing electricity price, an investment was made in solar panels last year, making a prepayment of 69270 euros. The panels will be installed in 2023.

Prevention of money laundering.

The accountant is responsible for controlling money laundering in the company. All transactions are based on invoices, there is no cash in the cash register. If there are new suppliers, customers, the accountant checks the background of the company.