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's activity report 2022

Introduction

AS Baltic Pack EST's main activities are the import and wholesale of packaging materials and packages, production and packaging equipment, flavorings and additives, wines and horse feeds.

We have secured market share, developed new projects, found new customers, brought new solutions to the market and strengthened our position during the reporting year.

Revenues, expenses and profit

AS Baltic Pack Est's customers are meat, fish, bread, dairy and cheese industries, as well as commercial enterprises involved in packaging goods. In 2022, 98.06% of sales revenue was made up by Estonian companies. AS Baltic Pack Est's profit for the reporting year in 2022 amounted to 247 thousand EUROs.

The sales revenue for 2022 was 9.82 million EUROs, of which the sale of spices was 779 thousand EUROs, the sale of packaging equipment was 2.762 million EUROs, the sale of alcoholic beverages was 314 thousand EUROs, the sale of packaging materials was 5.704 million EUROs and 263 thousand EUROs of the turnover was made up by the sale of other goods and services.

Main financial ratios 2022 2021 2020

Sales revenue (EURO) 9 822 568 7 537 128 7 221 786

Profit for the year (EURO) 247 286 240 445 229 806

Equity (EURO) 3 134 176 2 987 564 2 843 479

Number of employees - Converted to full-time 17 18 18

Short-term debt coverage ratio (times) 2.48 2.28 3.08

Inventory turnover ratio (times) 4.44 3.86 4.83

Debt ratio (times) 0.31 0.35 0.29

Net sales profitability (%) 2.52 3.19 3.18

Total capital net profitability (ROA %) 5.46 5.22 5.75 7.89 8.05

Equity net profitability (ROE %) 8.08

Formulas used in calculating ratios

Short-term debt coverage ratio = current assets/short-term liabilities

Inventory turnover ratio = cost of goods sold/average inventory

Debt ratio = liabilities/total liabilities

Net sales profitability = net profit/sales revenue x 100

Total capital net profitability (ROA) = net profit/assets x 100

Equity net profitability (ROE) = net profit/equity x 100

Risk of exchange rate changes

Transactions with suppliers and customers take place in over 99% in EUROs, therefore there is a currency exchange risk