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's activity report 2022

About the company:

OÜ L’Dolcevita's main activity is the retail sale of fashion goods.

Our mission is to provide customers with the best shopping experience in the Baltic States in stores with excellent customer service, a wide range of products, and a beautiful shopping environment.

OÜ L’Dolcevita has concluded franchise agreements covering the territory of Estonia and Latvia with the French company Okaidi S.A., for the operation of "Okaidi" children's clothing stores, and with the Danish company Change of Scandinavia A/S, for the operation of "Change Lingerie" lingerie stores.

Our vision is to make our brands available in all Baltic capitals and to be the first choice for customers who want to buy quality and stylish women's lingerie and children's clothing.

Group structure:

OÜ L’Dolcevita parent company

SIA L'Dolcevita Latvija registered in Latvia, participation 100%, retail sale of clothing

As of the end of the reporting year, the parent company's Estonian portfolio included 3 "Change Lingerie" stores (2 in Tallinn and 1 in Tartu), e-shop changelingerie.ee, 2 "Okaidi" stores in Tallinn, e-shop okaidi.ee. The subsidiary's portfolio in the Republic of Latvia included 2 "Change Lingerie" stores, e-shop changelingerie.lv and 2 "Okaidi" stores and e-shop okaidi.lv. All Latvian stores are located in Riga.

Overview of significant events during the financial year: In 2022, normal economic activity resumed after the pandemic and the company focused on maintaining high service quality and increasing sales in existing stores and online stores. A decision was made to close 2 Okaidi stores, which were not profitable and the store interiors and inventory were depreciated. One subsidiary store "Okaidi" in Riga was closed in December 2022 and one "Okaidi" store in Tallinn was closed in January 2023.

The company's sales revenue in 2022 was 3.52 million (in 2021 3.15 million) euros. Sales revenue increased by 11.90% compared to 2021. The company's pre-tax profit for the 2022 financial year was 325 thousand (in 2021 respectively 408 thousand) euros. The company had an average of 41 employees during the reporting period (in 2021 respectively 37 employees). The share has two board members who received a fee of 24 thousand euros for their board member activities in 2022 (in 2021 respectively 24 thousand euros).

No significant capital investments were made during the reporting year.

Main financial indicators:

Financial indicators 2022 2021

Sales revenue (EUR) 3 524 615 € 3 149 878 €

Growth in turnover compared to the previous year (%) 11.90% 17.13%

Operating profit (EUR) 313 334 € 285 783 €

Operating profit margin from sales revenue 8.89% 9.07%

Net profit (EUR) 203 092 € 406 420 €

Net profit margin from sales revenue 5.76% 12.90%

Short-term liabilities coverage ratio (times) 2.50 3.27

ROA 18.10% 29.23%

ROE 26.30% 37.93%

Turnover growth (%) = ((sales revenue 2022-sales revenue 2021)/ sales revenue 2021)*100

Operating profit margin from sales revenue = operating profit/sales revenue

Net profit margin from sales revenue = net profit/sales revenue