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's activity report 2022

Characteristics of the Group and Overview of the Financial Year

OÜ Laheotsa is a family business founded in 1992 based on domestic capital.

The main activities of the company are: - Growing of root and vegetables, - storage, - processing and year-round marketing; - Cereal and rapeseed cultivation; - Purchase/sale and management of agricultural land; In 2022, sales revenue reached 7.93 million euros. Net turnover increased by 33.26% (2021: 5.97 million euros). Sales to the domestic market accounted for 93.91% of turnover, the remaining part of turnover was sales to EU countries. Net profit from net turnover 77.39% - 6.16 million euros.

Labor costs in 2022 were 0.995 million euros (2021: 1.17 million euros). The average number of employees in 2022 was 48 people.

Economic and Environmental Activities

OÜ Laheotsa's economic and production activities are environmentally friendly and accordingly, the cultivation and intermediate crop areas and cultivated crops are planned. The company's activities are cyclical and seasonal. Production realization slows down during the summer period, but in general, economic activity is continuous and year-round. Sales planning of production is carried out continuously and planned according to existing stock and prevailing market conditions.

In 2021, Laheotsa established solar parks as a side activity of production, which have been more successful than expected and provide the company with added value in terms of cost reduction and clean energy.

Financial Risks

The company settles in euros daily and there is no direct exchange rate risk. Loans taken from banks are in euros and the basis for calculating the interest rate is EURIBOR. However, due to the change in EURIBOR, the interest rate risk to the company is low, considering the company's financial results and the volume of assets.

Investments Investments in 2022 totaled 2.2 million euros, of which investments in real estate were about 1 million euros.

Main financial ratios: 2022 2021

Sales revenue 7 961 009 5 973 837

Revenue growth 33.26 % 16.82 %

Net profit 6 160 669 3 199 724

Profit growth 92.54 % 64.58 %

Net profitability 77.39 % 53.56 %

ROA 16.84 % 9.46 %

ROE 24.17 % 14.33 %

Formulas used in calculating ratios: - Revenue growth (%) = (sales revenue 2022 - sales revenue 2021)/sales revenue 2021 * 100 - Profit growth (%) = (net profit 2022 - net profit 2021)/net profit 2021*100 - Net profitability (%) = net profit / sales revenue * 100 - ROA (%) = net profit/total assets * 100 - ROE (%) = net profit / total equity * 100