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's activity report 2022

In 2022, Lektar Eesti OÜ continued in the same activities as in previous years; i.e., mainly focused on the sale of building materials and network products. The company's sales revenue is affected by the garden installation season - from April to October, sales revenue is higher and from November to March slightly lower compared to the rest of the year.

Lektar Eesti OÜ's sales revenue for 2022 was 6.1 (2021 - 5.7) million euros. The main part of the turnover was made up of the sale of building materials and network products. Compared to 2021, sales revenue increased by 5.7%.

2022 was characterized by a rapid rise in raw material prices in the first half of the year, prices stabilized in the second half of the year. In connection with the optimal quantity of warehouse stocks, goods were discounted due to a change in purchase price in an insignificant amount. The gross margin decreased due to fluctuations in purchase prices. Operating expenses increased mainly due to the rise in energy and fuel costs.

The sale of building materials continued mainly with the established customer group and focused primarily on sales through resellers. The majority of sales are with a long payment term (30-60 days).

The average number of full-time employees during the reporting year at Lektar Eesti OÜ was 11 employees (2021 - 11 employees). The labor cost for 2022, including taxes, was 425 (2021 - 424) thousand euros. Labor costs increased due to wage growth.

No significant investments were made in 2022. No significant investments are planned for 2023 either.

The vast majority of transactions are in euros, so the risks arising from exchange rate changes are minimal. The risks associated with changes in interest rates are low, as there are no variable interest rate loan obligations or claims.

To reduce the environmental impacts dependent on product sales, Lektar Eesti OÜ is a member of the Estonian Packaging Recycling and Estonian Electronic Waste.

No remuneration was paid to the member of the company's board during the reporting period and no benefits were granted.

Main financial ratios 2022 2021

Sales revenue (thousand) 6078 5750

Growth in turnover % 5.7% 4.9%

Net profit (thousand) 387.5 450.4

Profit growth % -14.0% 45.3%

Net profitability % 6.4% 7.8%

Coverage ratio of short-term obligations 3.9 3.3

ROA % 15.5% 19.4%

ROE % 20.7% 27.6%

Formulas used in calculating ratios:

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

Profit growth (%) = (net profit 2022 - net profit 2021)/ net profit 2021 * 100

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

Coverage ratio of short-term obligations (times) = current assets/short-term liabilities

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

ROE (%) = net profit/ total equity * 100

Lektar Eesti OÜ will continue its activities as a wholesaler in existing sectors and product groups in 2023.

In 2022, there were no directly measurable financial effects of the coronavirus.

According to the best knowledge of the management as of today, the Russian-Ukrainian war that started in February 2022 does not have a significant negative impact on the company's operations in the near future.