CATWEES OÜ
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CATWEES OÜ hetkeolukord
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's activity report 2022
The main activity of Catwees OÜ is the sale of new and used Honda cars, vehicle maintenance, warranty repair, car rental and technical inspection service. In 2022, they also started selling and providing maintenance services for Opel cars at the company's Pärnu branch.
In 2022, 20426 new cars were sold in Estonia (22336 in 2021), of which 472 were new Hondas (467 in 2021). With this result, Honda achieved
the thirteenth position in terms of sales success among all car brands in the Estonian market. Catwees OÜ sold 245 new Hondas in Estonia in 2022, and the company's market share within the brand was 51.9% (in 2021, the number of new Hondas sold by Catwees OÜ was 296 and the market share was 63.4%).
In 2022, a total of 296 Opel vehicles were sold in Estonia, of which 10 cars were sold through Catwees OÜ.
The sales revenue of Catwees OÜ from the sale of new and used cars decreased by 2.1% in 2022 compared to 2021. The most influential factors in the economic environment in 2022 were the high energy prices that rose rapidly in late 2021, the continued rapid rise in prices, and the persistent uncertainty caused by the military conflict that broke out between Russia and Ukraine at the beginning of 2022. Positive trends affecting the economic environment include the recovery of supply chains disrupted during the COVID-19 pandemic and significantly reduced energy prices at the beginning of 2023.
To curb inflation, the European Central Bank decided to raise the base interest rate in 2022, and as a result, the significantly more expensive financing affects all economic sectors (including car trade). Catwees OÜ has taken into account the impact of worsening leasing conditions in its forecasts and plans to decrease car sales revenue in 2023 compared to 2022.
In the spring of 2023, Catwees OÜ started offering a 6-year warranty for the Honda vehicles it sells. The need for such a step was dictated by intense competition in the car market, and the confidence to make such a value proposition was given by Catwees OÜ's belief in the reliability and quality of Honda vehicles.
The sales revenue of Catwees OÜ from maintenance, warranty, body and repair work increased by 4% in 2022 compared to 2021. A growth in the total sales revenue of these areas of activity is planned for 2023.
As of the end of 2022, the Catwees OÜ group includes the subsidiary FER Kinnisvara OÜ. The group's sales revenue decreased by 2% in 2022 compared to 2022.
compared to the previous year, due to a decrease in the parent company's sales revenue. The group's operating profit decreased by 351 thousand euros in 2022 compared to 2021. The doubling of energy costs in 2022 compared to 2021 had a significant impact on the decrease in operating profit.
The group's balance sheet total at the end of 2022 was 4.36 million euros, of which 51.4% was financed from borrowed funds. As of the balance sheet date, the
solidity ratio of the Catwees OÜ group (equity to total assets) was 48.6, the net return on assets (net profit to average total assets) was -1.2%, the net return on sales (net profit to sales revenue) was -0.35% and the liquidity ratio (current assets to short-term liabilities) was 1.18. The group's EBITDA for 2022 was 140,035 euros (458,113 euros in 2021). In 2022, the group's investments in tangible fixed assets amounted to 65,896 euros. During the reporting year, dividends were paid to shareholders in the gross amount of 372,373 euros.
FER Kinnisvara OÜ was established in April 2004 by an Estonian legal entity. The activities of FER Kinnisvara OÜ include real estate transactions, real estate management, development, maintenance and rental, and investment management. In December 2004, the company acquired a 100% stake in the company by Catwees OÜ.
The FER Kinnisvara OÜ consolidation group includes the Latvian subsidiary FER Nekustamie Ipasumi SIA (100% stake), the Lithuanian subsidiary
Domoliuks UAB (100% stake) and a long-term financial investment (10%) in Järvevana Jaotusvõrk OÜ.
There were no changes in the activities of FER Kinnisvara OÜ in 2022 compared to the previous period.
FER Nekustamie Ipasumi SIA had no economic activity during the reporting year, so the liquidation process of the company was initiated in the spring of 2022.
The company was deleted from the Latvian Republic's business register in April 2023.
In 2022, there was no substantive economic activity in Domoliuks UAB. The only significant event was participation in a legal dispute resulting from the divestment of a real estate investment in 2021.
In February 2010, FER Kinnisvara OÜ participated in the establishment of Järvevana Jaotusvõrk OÜ. According to the founding agreement, FER
Kinnisvara OÜ acquired 10% of the share capital of the company being established. The main activity of OÜ Järvevana Jaotusvõrk is the distribution of electricity (EMTAK 35131).
In 2022, Järvevana Jaotusvõrk OÜ did not operate in the planned area.
In Pärnu
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