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's activity report 2022

Introduction

OÜ Birger is a company that deals with the manufacture, sale, repair and painting of metal containers.

In 2022, OÜ Birger saw an increase in business volumes primarily in the Norwegian and Estonian markets. At the same time, steps were taken to find market share in other countries.

The past year brought an increase in sales volumes for the production sector as a whole.

The business activities of the accounting entity are not related to seasonality or cyclical economic activity and do not have significant environmental and social impacts.

Revenues, expenses and profit In 2022, OÜ Birger's sales revenue was 26.3 million euros.

Meanwhile, production sales increased by 6.1% over the year. OÜ Birger's sales revenue consisted of 63.4% intra-group sales, OÜ Birger sold its production outside the European Union countries by 26.7% and 9.9% was sales to Estonia.

Main financial ratios 2022 2021

Sales revenue (eur) 26 307 067 24 802 608

Sales revenue growth 6.1% 22%

Short-term liabilities coverage ratio 1.19 0.95

Net profit (eur) 1 029 486 403 831

Net profitability 3.91% 1.63%

ROA 13.1% 5.45%

ROE 31.6% 18.1%

Formulas used in calculating ratios: (cid:127) sales revenue growth% = (reporting year sales revenue - previous year sales revenue) / previous year sales revenue*100 (cid:127) short-term liabilities coverage ratio = current assets / short-term liabilities (cid:127) net profitability (%) = net profit / sales revenue *100 (cid:127) ROA (%) = net profit/ total assets*100 (cid:127) ROE (%) = net profit/ total equity* 100

Investments

During the reporting period, 533 616 euros were invested in fixed assets. We expanded the territory of the finished goods warehouse, opened an additional painting line, which allows to increase the number of products manufactured by 30%. Constant investment has been made in product development. We replaced old equipment with more modern ones and started serial production of new models. Development expenditures amounted to 63710 euros. The company's capital and operating lease interest rate is linked to EURIBOR.

Personnel

The average number of OÜ Birger employees during the financial year was 188 employees. In 2022, the company's wage costs amounted to 3 856 887 euros (without social tax), of which 192 324 euros constituted the remuneration of board members.

The decrease in labor costs was due to a decrease in the number of employees.

Goals for the next financial year