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's activity report 2022

Introduction

Since June 17, 2021, AS JAPS M.V.M. has been operating under a new business name, JP FOODS AS. The change of business name was prompted by entering new markets, a generational change in management, and a desire to refresh the company's overall styling. The new name, JP FOODS AS, is an updated version of the old name and also a tribute to the company's founder, referring to his initials. JP Foods AS is 100%

an Estonian private capital-based company that started operations in 1992. The main areas of activity are seafood processing, wholesale and retail sales.

The company has a production unit in Estonia and also purchases shrimp peeling services from a production unit in Albania. The most important activity is the manual peeling and packaging of Pandalus Borealis shrimp. Carefully selected raw materials and technology developed over the years ensure the highest quality products, which are highly valued both domestically and in Europe. The company, which turned 30 last year, aims to expand to new markets, offer the best quality, and be a leader in its sector.

Revenues, expenses, profit In 2022, sales revenue was 15,548,308 euros, in 2021 it was 13,619,338 euros. A certain stability has been achieved in sales, and fluctuations are mainly due to changes in sales prices and exchange rates. Over 75% of sales are in Swedish kronor. Shrimp product sales in Estonia and abroad have remained at the same level for the last three years. About 77% of the production is exported

to Sweden, followed by Norway with 15%. Sales in Estonia accounted for 2.57% of total shrimp processing sales revenue, and sales to foreign countries accounted for 97.43%.

The year 2022 ended with a profit of 89,575 euros. The company's free equity as of 31.12.2022 is 2,212,562 euros, as of 31.12.2021 it was 2,259,838 euros.

Main financial ratios 2022 2021

Sales revenue 15,548,308 13,619,338

Sales growth (%)= ((sales revenue 2022- sales revenue 2021)/ 14.16 -3.07 sales revenue 2021)*100

Net profitability of sales (%) = 0.58 5.31 net profit/sales revenue*100

Short-term debt coverage ratio = current assets/short-term 1.38 1.51 liabilities

Liquidity ratio = (cash+accounts 0.56 0.64 receivable)/short-term liabilities

Debt ratio = total debt/assets 0.55 0.50

Equity ratio = equity/assets 0.45 0.50