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's activity report 2022

The main activity of AS Peetri Põld ja Piim is dairy farming (EMTAK code 01411). In 2022, the sales revenue was 6,928,574 euros, of which the sale of milk accounted for 4,814,585 € (i.e. 69.48%), the sale of animals 307,752 € (4.4%) and the sale of cereals and rapeseed 977,281 € (14.11%).

The net profit for 2022 was 1,951,670 €.

From the beginning of 2022, the price of raw milk began to rise gradually. The average selling price of raw milk for the year was 0.478 €/kg. We sold the milk to AS Valio Eesti.

In 2022, we produced 430 tons of rapeseed and 1800 tons of wheat for sale. The planned harvest for sale has been realized.

The company used 2220 hectares of agricultural land: 900 hectares for growing cereals, 200 hectares for rapeseed, 201 hectares for corn and about 850 hectares for grasslands for cattle. Of the usable land, 1144.22 ha are owned, 1076 ha are rented from the state, individuals or companies. By the end of the year, the joint-stock company had a total of 1900 cattle, of which 933 were cows. 1008 thousand tons of milk were sold. The average milk yield was 11700 kg per cow per year.

The major investments in 2022 were directed towards livestock buildings. We partially rebuilt the barn for special needs animals to accommodate all confined animals in one barn. The cost of the investment was 289,800 euros. We also purchased a new maintenance mower for maintaining hayfields.

The company's operations are affected by its location in a nitrate-sensitive area. This imposes special requirements for manure management and the use of fertilizers.

The main tasks for 2022 were the production of quality milk and crop products and improving production efficiency.

We are satisfied with the results.

In its daily operations, the company encounters various financial risks, the management of which is an important part of the company's business activities. The management analyzes the company's financial results and cash flows on a monthly basis. The company has also prepared a budget and cash flows for 2023.

According to the cash flow forecast, the company is able to hedge the risks associated with rising prices and interest rates. To reduce credit risks, the payment discipline of customers and their ability to fulfill their obligations are monitored.

The main goal for 2023 is to increase the amount of milk produced and to increase the yield of crop products. Special attention should be paid to improving herd health. We continue to invest in the acquisition of agricultural land. We are purchasing a new wheeled tractor, a grain drill and a randall.

The company was not significantly affected by changes in exchange rates and stock market prices.

Main financial indicators: 2022.

Title Calculation method 2021. a a.

Short-term debt coverage ratio Current assets / short-term liabilities 6.28 3.59

Payment ability ratio Current assets - inventories / short-term liabilities 4.63 1.9

Return on assets (ROA) % Net profit (-loss) / assets 17 5.9

Sales profit % Operating profit (-loss) / sales revenue 29 13.8

General debt ratio % Liabilities / assets 30.3 37.16