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's activity report 2022

AS Hydroscandi can consider the year 2022 successful. The turnover was 16.9 million euros (last year 17.5 million). Domestic sales were 65% (last year 63%), goods were sold to Russia for 0.5 million euros in the first two months of the year (last year 2.8 million).

AS Hydroscandi's main activity is the provision of services in the field of assembly of hoses and their components, as well as their brokerage to other business partners. Hydroscand AS has two subsidiaries outside Estonia - in Lithuania and Georgia.

In the reporting year, fixed assets were acquired for 126 thousand euros, no major investments are planned in the near future. There were no significant research and development projects during the reporting period and none are planned for the coming years. AS Hydroscandi's economic activity does not directly affect the natural environment, nor does the company's business activity have social impacts.

There is no significant seasonality in AS Hydroscandi's economic activity.

During the financial year and the period of preparation of the report, no significant risks related to changes in exchange rates and interest rates have emerged.

The general macroeconomic development of the operating environment does not have a significant impact on AS Hydroscandi's financial results.

In 2022, a total of 3.5 million euros was accounted for salaries (last year 3.1 million), including 236 thousand euros for board members and the CEO (last year 215 thousand euros). The average number of employees during the reporting period was 76 employees (also 76 last year). The board has three members. No separate membership fees were paid to the board and council members in 2022.

The main goal of AS Hydroscandi is to maintain its market position and be ready for changes in the world economy.

The war in Ukraine affected our operations in 2022. We stopped sales to Russia and Belarus, the change is reflected in the 2022 results.

In 2023, there will be no significant impact compared to 2022. We have adapted to the changing economic situation.

Below are some financial ratios characterizing the financial situation: 2022 2021

Turnover growth / decrease % (sales revenue in the reporting period - -4 21 sales revenue in the comparison period) / sales revenue in the comparison period*100

Profit growth / decrease % (net profit in the reporting period - net profit in the comparison period) 33 62 / net profit in the comparison period *100

Net profitability % 13 9 (net profit / sales revenue)*100

Short-term liabilities coverage ratio times 4 3 (current assets / short-term liabilities)

ROA % 23 17 (net profit / assets)*100

ROE % 29 24 (net profit / equity)*100