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's activity report 2022

Overview:

Sami Tootmise AS is the former Otepää Metall AS, which has merged with its subsidiary AS Valga Ferrum.

On October 4, 2021, a merger agreement was signed and on May 23, 2022, a change was made in the business register. The purpose of the merger is to increase production efficiency and optimize production and management costs. A unified production and management program, Epicor, has been implemented.

The accounting entity operates year-round.

The main activities are the production of metal products and mechanical engineering. Mainly, various road maintenance machines, tractor attachments, containers, and buckets are produced. Sand spreaders are produced on a smaller scale.

The parent company of Sami Tootmise is AS Sami, which operates in the same field.

Revenues, expenses, profit

The general macroeconomic development of the operating environment did not have a significant impact on the financial results. The company's business is not seasonal and is not cyclical. The company's economic activities do not have significant environmental and social impacts. During the financial year and also during the preparation of the report, no risks related to changes in exchange rates, interest rates, and stock prices have emerged.

The company's sales revenue was 7.19 million euros (2021: 3.13 million euros), increasing by 129.8% year-on-year (2021: growth 62.5%).

In 2022, 63.4% of sales revenue was domestic sales and 36.6% was intra-group sales.

The calendar year operating profit was 638,744 euros, decreasing by 14.75% compared to 2021.

The net profit for 2022 was 578,009 euros, decreasing by 18.49% compared to 2021.

Main financial ratios 2022 2021 Methodology for calculating ratios

Sales revenue growth 129.8% 62.5% Reporting year sales revenue / Previous year sales revenue - 1

Operating profitability 8.9% 23.9% Operating profit / Sales revenue * 100

Net profitability 8.0% 22.6% Net profit / Sales revenue * 100

Total asset profitability ROA 14.2% 26.3% Net profit / Average assets * 100

Equity profitability ROE 16.9% 30.6% Net profit / Average equity * 100

Equity ratio 82.2% 86.3% Equity / Total assets * 100

Solvency ratio 5.17 5.12 Current assets / Short-term liabilities

Liquidity ratio 2.54 3.0 Current assets-inventories / Short-term liabilities

Receivables turnover (days) 24.1 21.9 Average receivables from customers / (Sales revenue / 365)

Payment period (days) 11.9 16.3 Average liabilities to suppliers / (Cost of goods sold / 365)

Investments

In 2022, 117,537 euros were invested in tangible fixed assets, mainly for the acquisition of machinery and equipment. No significant research and development expenditures were made during the reporting period. There were no significant events in 2022 that are not reflected in the financial year report and that would affect the results of the current or future financial years.

Personnel

The average number of employees in 2022 was 69 employees (2021: 34 employees) and the total labor cost was 1.45 million euros (2021: 0.8 million euros). The board fees in 2022 were a total of 56,500 euros (2021: 42,000 euros). No separate fees were paid to the members of the supervisory board and no benefits are foreseen.

Goals for the next financial year In 2023, the focus will continue to be on increasing production efficiency and production volumes. The focus is on increasing the sales of SAMI brand products in new markets. Vigorous sales and customer-centric product development have a positive impact on sales volumes, which in turn has led to an increase in production volumes. Cooperation with the parent company is active and stable.