EESTI VILJASALV OÜ
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EESTI VILJASALV OÜ hetkeolukord
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's activity report 2022
The main areas of activity of OÜ Eesti Viljasalv Group are the sale of cereals, cereal products and feed components.
The Group's sales revenue in 2022 was 106.77 million euros (92.61 million euros in 2021), increasing by 15.3% compared to the previous financial period.
The Group's sales prices are linked to world market prices.
The majority of the Group's turnover was made up of the unconsolidated sales revenue of OÜ Eesti Viljasalv, which in 2022 was 107.09 million euros (92.61 million euros in 2021), increasing by 15.6% over the year. Of this, the sale of feed cereals, cereal products and feed components accounted for 106.63 million euros (92.23 million euros in 2021).
The Group's largest sales items were sunflower meal, flax seeds and rapeseed meal.
Exports were made to 16 different countries, with Belgium, Germany, the Netherlands, Italy and Denmark being the main partners.
The Group's transit trade contracts in 2022 were largely concluded in euros and therefore changes in exchange rates did not have a significant impact on the company. In 2022, a total of 47,337 euros in exchange rate losses were incurred (319,842 euros in exchange rate losses in 2021).
The Group is constantly working to find reliable new partners in the financing field to reduce interest expenses. As banks in the Baltic region still do not offer Trade Finance instruments, this is a major challenge for the company.
Similar to the previous financial year, interest and financial expenses increased for the reasons mentioned above. There is no banking supporting international trade in Estonia and the Baltics. Interest expenses increased by 40% in the reporting year compared to 2021 (the corresponding increase in the previous financial period was 49%). This inadvertently puts similar companies in our region in an unequal competition situation compared to the rest of Europe and the USA.
The war in Ukraine has a major impact on the Group's operations. Traditional Russian commodity groups are declining and Kazakh commodity groups are growing, but long, expensive and time-consuming logistics set their own limits here. The flow of goods from Ukraine, which traditionally rather reached third countries, is now stuck in European warehouses, bringing down prices in some commodity groups, threatening the existence of local producers in Central European countries. In our region, there is no large flow of agricultural products from Ukraine because there is no logistics. The only means of transport to move beyond Poland is expensive road transport and these quantities are not market-changing in terms of commodity flows. However, it certainly affects the price through the price drop in other EU countries.
The company's operations do not have significant environmental or social impacts. The most influential environmental conditions for the company are weather conditions in the production of agricultural produce, which determine possible commodity flows.
No significant investments were made during the reporting year and no significant investments are planned for the next year.
Business activity is rather not seasonal or is weakly so thanks to different commodity groups, traditionally August and September are months with lower turnover.
The main directions for 2023 are: (cid:127) Maintaining the stability of commodity quantities (cid:127) Finding new logistics routes for goods originating from Kazakhstan (cid:127) Increasing market share in Kazakhstan
Main financial indicators of the parent company OÜ Eesti Viljasalv: 2022 2021 (current assets-inventories)/short-term
Liquidity ratio 0.42 0.39 liabilities
Short-term liabilities coverage ratio (times) 1.65 1.25 (current assets/short-term liabilities)
Net profitability 3.55% 1.00% (net profit/sales revenue)*100
ROA, asset profitability 15.21% 2.88% (net profit/total assets)*100
ROE, equity profitability 32.87% 10.83% (net profit/equity)*100
EESTI VILJASALV OÜ contacts
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