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's activity report 2022

Tallinna Kaubamaja Kinnisvara AS is a 100% subsidiary of Tallinna Kaubamaja Grupp AS.

The company is primarily engaged in the management, maintenance and leasing of commercial spaces of Tallinna Kaubamaja Grupp's real estate. Tallinna Kaubamaja Kinnisvara AS has three 100% subsidiaries - Tartu Kaubamaja Kinnisvara OÜ, SIA TKM Latvija and UAB TKM Lietuva.

The company owns Kaubamaja Tallinn department store, Viimsi Center, Viking Motors building and 19 Selver buildings, as well as several properties.

The largest tenant of the historic building located in the center of Tallinn is Kaubamaja AS. In addition, commercial and service space is rented to group-related parties. The company's largest portfolio of group-related rental spaces is concentrated in Viimsi Center. Viimsi Center is a shopping and entertainment center with a total of over 12,000 m² of leasable space. The center is home to regionally important public service providers. The anchor tenant of the center is Selver. The entertainment center on the second floor of the building houses sports and bowling halls, catering places and beauty service providers.

The daily business activities of Tallinna Kaubamaja Kinnisvara AS are managed by a one-member board.

The company's board is supervised by the supervisory board. The Supervisory Board decides on the company's development strategy and investment policy, and approves the annual budget. The Supervisory Board consists of 4 members and is elected for a 3-year term.

The average number of employees in 2022 was 10 (2021: 11) people. Total labor costs (wage costs and social tax costs) for the reporting period were 894 thousand euros (2021: 821 thousand euros).

Over 90% of the company's sales revenue is made up of rental income from Tallinna Kaubamaja Group companies. 2020.

The pandemic that began in the spring of the year no longer had a significant impact on the company's operations during the reporting year. In previous years, the pandemic had the greatest impact on rental spaces in downtown Tallinn, but today most of the rental spaces are again covered by tenants. However, customer shopping behavior has changed in recent years, stores are visited less frequently, and more purchases are made at once. Also, the visitation of the centers has not returned to the pre-corona restriction level. The rapid growth in visitation at the beginning of the year waned in the summer months due to Russia's aggression and rapidly rising energy prices, which reduced consumer confidence.

In 2022, investments were made in the amount of 1,282 thousand € (2021: 2,343 thousand euros).

Ethical business is one of the core values of Tallinna Kaubamaja Group companies. The implementation of responsible business principles in their daily activities is taken very seriously.

The goal is to develop an environmentally friendly, responsible and sustainable approach in every activity, from the simplest daily activity to large investment projects.

Great attention has been paid to improving the energy efficiency of buildings and a sustainable development strategy is being developed. An important role in implementing the strategy is the ongoing collection of various non-financial data, which allows them to be analyzed, linked to financial data, and is the basis for management decisions. The company has made investments in more accurate measurement and management of techno-system energy consumption. Automatic heating and ventilation system control has been built in several centers. Most of the lighting in the centers has been replaced with energy-saving LED lights. In the summer, a solar park was completed on the roof of the Pirita Selver building, the electricity produced by which is mainly used to cover on-site consumption. Development work has begun to build a solar park on the roof of Viimsi Center.

Investigations into the construction possibilities of solar power plants are also being carried out for other buildings in the group. Collection containers have been installed in the buildings, giving the customer the opportunity to dispose of their used batteries and batteries, paper, glass and plastic packaging. In 2022, the company made investments to increase energy efficiency within the framework of the sustainability strategy in the amount of 430 thousand euros. In addition, several new rental spaces were built and existing ones were improved.

In the new year, work will continue on the development of the new Kaubamaja building, updating the techno-systems and light sources of the buildings. A car wash will be completed near Peetri Selver next year.

Based on the principle of social responsibility, we participate in sponsorship activities and programs and carry out various charity campaigns. We consider it important to contribute to the local community. In Viimsi, we have supported cultural, hobby and sports activities in the region. We cooperate with various sports clubs and hobby schools in the region, museums and