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's activity report 2022

AS PK Oliver, a renowned company in the wood chip production and sales industry, was established in the year 1993. The company's primary operations revolve around the production and sale of wood chips to heat producers, combined heat and power plants, and pellet factories. Over the years, AS PK Oliver has expanded its operations and currently owns branches in Latvia and Lithuania, further solidifying its presence in the Baltic region. However, in July 2022, the company made a strategic decision to deregister its inactive subsidiary in Latvia. This move was part of the company's broader strategy to streamline its operations and focus on its most profitable ventures. In terms of financial performance, 2022 was a banner year for AS PK Oliver. The company's consolidated sales revenue for the year stood at an impressive 15,124,621 euros, while the profit was recorded at 1,967,320 euros. This marked a significant increase compared to the previous year, reflecting the company's robust growth trajectory. The company's major clients in Estonia included Gren Eesti, AS Esro, Enefit Power AS, Gren Tartu AS, and Adven Eesti AS. These partnerships have played a crucial role in driving the company's revenue growth. The Latvian branch of AS PK Oliver also performed well in 2022, with a turnover of 1,160,953 euros and a profit of 88,080 euros. Its major client in the country was Graanul Invest. Meanwhile, the Lithuanian branch recorded a turnover of 2,198,544 euros and a profit of 342,252 euros in 2022. Its major clients included AB Jonavas Šilumos tinklai and Ukmerge ŠILUMA. Despite the challenges posed by the war in Ukraine, which significantly impacted the energy sector at large, AS PK Oliver managed to increase its sales revenue in Estonia and Latvia. However, the war had a negative impact on the company's Lithuanian branch. Looking ahead to 2023, AS PK Oliver aims to continue producing wood chips at the same volumes in Estonia and Latvia. However, the company plans to close its branch in Lithuania within the year. The company also anticipates a decrease in the price per MWh for the 2023/2024 heating season. As part of its ongoing investment in its operations, the company plans to acquire another new wood chipper in 2023. In terms of key financial ratios, AS PK Oliver saw significant improvements in 2022 compared to 2021. The company's sales revenue increased by 18.5%, up from 8.0% in 2021. The net profit stood at 1,967,320 euros, a significant increase from 471,441 euros in 2021. The net profitability of sales was 13.0%, up from 3.7% in 2021. The return on assets (ROA) was 21.2%, up from 6.5% in 2021, while the return on equity (ROE) was 27.03%, up from 8.87% in 2021. The liquidity ratio also improved to 2.6, up from 2.38 in 2021.