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's activity report 2022

Introduction In 2022, AS Papiniidu Projekt continued its regular business activities in leasing commercial spaces in a shopping center located in Pärnu

Kaubamajakas, Papiniidu tn 8. The shopping center was opened in May 2004 and expanded in 2007 and 2014. The shopping center leases space to about 70 companies. All rental spaces were occupied in 2022.

The consolidation group includes Nuudi Kinnisvara OÜ, a 93% subsidiary of Papiniidu Projekt AS. Nuudi Kinnisvara

OÜ's main activity is the leasing of warehouse space.

Revenues, expenses and profit In 2022, the consolidated group's sales revenue amounted to 5,650,891 euros. The consolidated group's sales revenue consisted of 78% rental services, 18% administrative and communal services and 4% other services. The company's business is not seasonal. To our knowledge, the company's activities do not have any environmental and social impacts. During the financial year and the reporting period, no risks associated with changes in exchange rates, interest rates and stock prices were identified.

The consolidated group's gross profit amounted to 4,581,927 euros, general administrative expenses were 209,346 euros and marketing expenses were 274,228 euros.

The consolidated group's net profit for 2022 amounted to 5,623,630 euros.

Main financial ratios 2022 2021

Sales revenue 5,650,891 5,198,293

Net profit (€) 5,623,630 3,316,077 sales growth (%) 8.71 24.96

Gross profit margin (%) 81.08 82.70

Profit growth (%) 69.59 39.50

Net profitability (%) 99.52 63.80

Short-term liabilities coverage ratio 2.62 1.76

ROA (%) 9.32 5.95

ROE (%) 14.42 9.93

Formulas used in calculating ratios:

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

Gross profit margin (%) = gross profit/sales revenue * 100

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

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

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

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

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

Investments