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's activity report 2022

Kaljumets OÜ was established on 06.01.2000. Kaljumets OÜ has been operating for 23 years and throughout its operation, the main activity has been activities assisting forestry, also operated in 2022. In addition to the main activity, the company deals with the purchase and sale of forestry machines, excavator work, and heavy machinery trailer transport.

Kaljumets OÜ participated in the state procurement announced by the State Forest Management Center in May and December 2020 and won both state procurements. This ensures work for the next four years. The state procurement of May 2020 was terminated by mutual agreement by Kaljumets OÜ, as the rise in energy prices and distance made working in the Northeast region too costly. The state procurement of December 2020 is still in operation, but the rise in energy and spare parts prices has strongly affected the company. The price of new forestry machines increased by 33%, the price of machine maintenance work by 23%, the price of lubricants on average by 64%, the price of spare parts on average by 23%. The company was also affected by the Ukraine-Russia war, as the supply of spare parts was disrupted throughout the year.

Main financial ratios for the financial year and their calculation methodology: 2022 2021

Short-term debt coverage ratio 0.6 0.5

Liquidity level 0.07 0.08

ROA (%) -5.2 13.5

ROE (%) -2.2 45.3

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

Liquidity level = cash and securities / sales revenue

ROA (%) = net profit / total assets x 100

ROE (%) = net profit / total equity x 100.