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's activity report 2022

Company Background

AS Baltic Agro's main activity is the sale of agrochemical products and grain. AS

Baltic

Agro was registered in the commercial register on 15.12.1997. The business register code is 10344249.

Key financial indicators as of 31.12.2022

AS Baltic Agro's sales revenue in 2022 was 447,390 thousand euros (2021: 277,064 thousand euros). 67.5% was sold to the Estonian market (2021: 73.2%).

The largest export transactions went to Saudi Arabia (9% of turnover) and

Nigeria (7.9% of turnover) (2021: Angola 3.2% of turnover and the UK 3.1% of turnover).

71.6% of sales revenue was made up of grain, rapeseed and seed sales; the sale of mineral fertilizers and plant protection products accounted for 25.9%.

The net profit for the reporting year was 8,023 thousand euros, in 2021 the net profit was 4,000 thousand euros.

The average number of employees in 2022 was 163 employees (2021: 144 employees).

No remuneration was paid to the members of the company's board and council. The remuneration is paid to the board member working as the managing director. The total amount of employee remuneration was 6,494 thousand euros (2021: 5,032 thousand euros).

AS Baltic Agro's subsidiaries are Scanola Baltic AS and Noorma

Agricultural Products OÜ.

Main financial ratios 2022 2021

Sales revenue (thousand euros) 447,390 277,064

Turnover growth% 61.48% -4.14%

Operating profit margin % 1.45% 1.17%

Net profit (thousand euros) 8,023 4,000

Profit change % 100.58% -7.47%

Net profitability 1.80% 1.40%

Short-term obligations coverage ratio 2.91 1.88

ROA 6.59% 2.78%