Already 6,565 people have seen this company's branding and they are being followed by 35 Storybook user.In average the company has been rated 5.0 points but has not been commented.

's activity report 2022

AS Kolmeks main activities are the production and sale of electric motor components and mechanical engineering parts. The main products are stators, rotors, shafts and housings for electric motors, which are produced in close cooperation with our suppliers and customers to ensure quality and delivery reliability throughout the value chain.

Revenues, expenses, profit

AS Kolmeks sales revenue grew significantly in 2022. Compared to 2020, sales revenue increased by about 40% and compared to the previous fiscal year by 21.3%. The increase in sales was due to strong growth in customer demand and rising raw material prices on the world market, which was reflected in our sales prices.

The sales revenue for 2022 was 29.2 million euros. In 2021, the corresponding figure was 24.0 million euros. The sale of production accounted for 94.3% of sales revenue in 2022.

The company's profit in 2022 was 1.6 million euros, which was significantly higher compared to 2021 (0.8 million euros).

The increase in profit was due to an increased number of orders, significant growth in production volume and rising sales prices.

The company's costs increased significantly and the growth in costs was driven by inflation and rising energy prices. Wage pressure became unbearable in the second half of the year and in order to remain competitive in the labor market, a general wage increase of an average of 10% took place in the company at the end of the year. As the situation with new orders worsened and the volume of work decreased at the end of the year, the actual impact of the wage increase will be revealed in 2023.

The importance of exports was 97.1%. Exports mainly took place to Finland, Sweden, Poland and Belgium, where the largest customers are:

Kone Industrial OY, ABB Motors and Generators OY, ABB Robotics AB Danfoss Editron OY, Kolmeks OY and Atlas

Copco Airpower Ltd. and ABB Poland Z.o.o.

During 2022, the average number of employees increased and was 168 employees. In 2021, the company employed an average of 154 employees. In addition, the company constantly had 13 rented employees.

The increase in the number of employees was due to a significant increase in the volume of orders during the first three quarters of the year. Labor costs totaled 4.5 million euros for the year, an increase of 0.6 million euros, including the labor costs of board and council members were 0.18 million euros.

No benefits, guarantees or other potential obligations have been granted to board and council members.

Investments

The total amount of investments in 2022 was 0.62 million euros. In 2021, a total of 0.18 million euros was invested.

2022 was a cautious year of investment recovery. Growth compared to the previous year was 2.4 times. It should be noted that the reason for the exceptionally low investments in 2021 was the uncertain market situation in 2020.

No significant research and development projects took place in 2022.

Goals for the next fiscal year

We forecast a recession for 2023, the impact of which will be particularly felt in the first half of the year. Therefore, the company's turnover and profit forecast are significantly smaller than the results of 2022. Investments will increase compared to the previous year and will be in the order of 0.85 million euros.

The number of employees at the end of the year was 174, there are no plans to increase the number of employees.

During the preparation period of the annual report, no significant events have occurred that would affect the forecasts made for 2023.

The assessment is based on the information available at the time of signing the annual financial statements, therefore the impact of future events on the company's operations may significantly differ from the current management's assessment.