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's activity report 2022

AS TEVO KAUP is an Estonian private capital-based company, established in 1995.

AS Tevo Kaup is located in Tartu at Riia 140a. The location, which is in close proximity to Lõunakeskus and has good accessibility, has become an active center for the sale of construction materials.

The main activity is the sale of construction and finishing materials. Our goal is to offer customer-friendly service and favorable prices to private customers, builders, and resellers.

The geopolitically tense and high inflationary economic environment of the 2022 fiscal year was successful for AS Tevo Kaup.

Growth was driven by increased domestic demand (households spent savings during restrictions) and investments made by companies to meet increased demand. High energy prices, the growth of goods and services prices, and wage pressure increased operating costs.

AS Tevo Kaup's balance sheet as of 31.12.2022 was 5.3 million euros.

AS Tevo Kaup's sales revenue for 2022 was 14.9 million euros, an increase of 19.2% compared to the 2021 result, when sales revenue was 12.5 million euros. The year ended with a profit of 251.5 thousand euros (2021 profit 268.3 thousand euros).

In 2022, we continued to rent commercial spaces to AS Lincona, AS Salmo and Luts, OÜ Bolt Operations, AS Rehpol, OÜ Industrial Systems Engineering, OÜ Spauna, and several smaller tenants.

In 2022, an office building at Riia 136a, Tartu, was purchased for investment purposes.

If the savings made during the pandemic and the withdrawal of money from the second pension pillar supported consumption in 2022, it should be taken into account that most of these savings have already found their way into consumption and at some point, consumption must decrease.

Economic forecasts in force during the preparation of the annual report predict a standstill or even a decline in the economy for 2023. The continuation or normalization of uncertainty is likely to be the keyword that best characterizes the outlook for 2023.

In a volatile economic environment, the key to a company's success is flexibility and keeping up with customer wishes.

AS TEVO KAUP's planned capital investments for 2023 are aimed at ensuring the company's sustainability and development, enabling the future improvement of quality, sales volume, and profitability.

Risk management is part of strategic management and is an integral part of the company's daily activities.

The main goal of risk management is to identify major and significant risks and to manage these risks optimally so that the company achieves its strategic and financial goals. According to the management, the following risks are significant for the company:

Operational risk - the most influential factor on the company's activities is the cyclical nature of the economy. To mitigate risks, the company strives to operate flexibly, constantly monitoring sales volumes and competitors' activities, making changes in price levels and marketing activities if necessary. The sale of construction materials inevitably involves the risk of weather. In the case of significantly different weather conditions, the sales result may significantly differ from the planned one.

Credit risk expresses potential loss if counterparties fail to fulfill their contractual obligations. To reduce credit risks, customer payment behavior is constantly monitored, their financial situation is analyzed. According to the management, the company does not have significant credit risks.

Interest rate risk arises from changes in interest rates in money markets, which may result in the need to revalue the company's financial assets and consider the increase in financing costs in the future. The company's bank loan interest rates are floating and linked to Euribor. The management considers the impact of interest-bearing liabilities and changes in the interest rate environment on the results in a 12-month perspective to be insignificant.