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's activity report 2022

In the fiscal year 2022, the company's turnover increased again by 13% compared to the previous year's turnover.

The beginning of the year was very successful, in the second half of the year there was more pressure on the margin due to the energy crisis and war, and at the end of the year there was also some decline in turnover.

However, it was also possible to increase turnover in this situation, especially with the help of retail sales in export markets and sales to industrial customers.

The turnover of HoReCa sector customers recovered and showed solid growth.

We consider the year to be successful. Although the pressure on the margin was high, we ended the year with the expected profit.

Sales development in export markets continued and the main part of the volumes still comes from export markets. The focus is still on export growth, the company's long-term goals remain the same. The main focus for the coming year is the Swedish retail market.

In 2022, we renewed the BRC certificate again and passed the audit with very good results.

We continue to move towards more socially sustainable and environmentally friendly business activities. We continue to focus on finding socially sustainable suppliers and try to find solutions for more environmentally friendly packaging of products. The first projects in this regard have already been implemented - the adoption of I am Green film and ISCC film were successful. The focus on developing supplier sustainability continues.

The entire group's focus is strongly directed towards sustainability throughout the supply chain, especially in the countries of origin of production. Our goals are also strongly linked to the goals of group companies.

For the fiscal year 2023, we expect turnover growth of approximately 14%. Growth occurs both from existing customers and new customers. Pressure on margins and profits will increase, and the profit expectation is only slightly higher than last year's profit due to entering new markets.

The average number of employees during the fiscal year was 24.

OÜ Rhumveld Baltic key financial ratios: 2022 2021

Liquidity ratio 1.79 1.64

Debt ratio 0.57 0.60

Asset turnover 2.44 2.32

Net profitability of turnover 2.14% 4.23%

Net profitability of assets 5.23% 10.66%

The methodology for calculating ratios is as follows: