This company's branding has already reached 6,621 peopleand his is followed by 78 Storybook users.On average, the company has been rated 4.4 points.and commented 104 times.

's activity report 2022

Board report for the financial year ended December 31, 2022.

The Board presents this report together with the financial statements of OÜ Balti Spoon for the financial year ended December 31, 2021.

Balti Spoon OÜ was established in 1993 in the village of Kupu in Kuusalu parish, located about 40 km east of Tallinn. Production activities began in 1998 and since then, production volumes have significantly increased - we are currently one of the leading veneer producers in the world. In addition to veneer, Balti Spoon OÜ also produces and sells veneer edges in the dimensions desired by customers. The company also represents the companies of the Möhring Group in the USA, which allows us to offer their products, including veneer. We sell our products to over 40 countries around the world.

The Group's sales revenue for 2022 amounted to 50,410,429 euros, which is 17% more than in 2021. The Group ended the reporting year with a profit of 11,479,462 euros.

2022 was successful despite the market situation. The veneer market has remained strong and there is still demand for construction and finishing materials.

Our market share in 2022 was stable and we hope to maintain it in 2023 as well.

Balti Spoon OÜ owns two subsidiaries, Lubelski Fornir Sp. Z.o.o. registered in Poland, whose main activity is the production and marketing of veneer from various types of wood, especially oak, birch, ash, alder, and a smaller subsidiary registered in Germany

BALTREC GmbH, whose main activities are real estate management and the marketing of plywood produced by Balti Spoon OÜ.

During the year, the group invested a total of 3.3 million euros in fixed assets. In 2022, investments were made in the equipment and sorting lines of both Estonian and Polish factories.

In Estonia, investments were started in renewable energy and in the second half of 2023, a solar park is planned to be commissioned, which will partially cover the company's energy consumption.

Financial ratio 2022 2021 Financial ratio formula

Liquidity ratio 3.32 5.81 (Current assets inventory) / short-term liabilities

Current assets ratio 5.48 9.13 Current assets / short-term liabilities

Debt ratio 0.15 0.13 Liabilities / assets

Capital turnover ratio 0.94 1.09 Sales revenue / assets

Return on assets 21.3% 13.9% Net profit / assets

Balti Spoon OÜ cares equally about all its stakeholders, including employees, customers, suppliers, the local community, and shareholders. Our goal is to maintain a culture of exemplary practices, follow the principles of responsible resource use, and create a platform for sustainable growth that benefits all stakeholders.

The company is exposed to market risk through the use of financial instruments, primarily currency risk, which arises from both primary and investment activities. If it is assumed that the amounts payable and receivable in a specific currency largely balance each other, no additional risk hedging activity is undertaken.

The consolidated group's business activity is not affected by seasonality; financing and investment activities are carried out as needed using own resources; According to the consolidated group's dividend policy, profit distribution does not take place annually.

Edmund Smolarek

Board member