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's activity report 2022

Agricom Tehnika OÜ is an Estonian capital company engaged in the production and sale of energy carriers from biomass.

The company uses both natural materials, i.e. logging residues and shrubs, for the production and sale of energy biomass, as well as various secondary materials for the production of chips from biomass.

In 2022, Agricom Tehnika OÜ continued its economic activity.

2022 was a year of turbulent growth in the energy sector. Sales volumes, sales prices, and input material purchase prices all increased.

The company's main customers are electricity and heat energy producers. The general seasonality of heat and electricity consumption also affects the activities of Agricom Tehnika OÜ. Depending on market demand, we have to endure certain seasonality in production and sales. Sales are low in the 2nd quarter and the first half of the 3rd quarter.

In a market situation where the company's sales volumes and prices largely depend on electricity market exchange prices, which can be volatile, the company must plan its finished goods inventories very well to hedge price risks. Precise management of inventory is the most important price risk mitigator.

As the main direction of development, we focused in 2022 on developing the purchase channels of secondary biomass materials (waste wood, wood industry residues, construction-demolition wood, etc.) and improving the efficiency of their processing.

The company's business activities do not have significant environmental and social impacts. There are no significant risks to economic activity related to changes in interest rates and exchange rates.

Interest expenses are based on Euribor, but in the management's opinion, the impact of changes in interest rates on the company's financial position is insignificant. The rise in interest rates so far and forecasted will not affect investment decisions for 2023-2024.

Revenues, expenses and profit In 2022, Agricom Tehnika OÜ had sales revenue of 8,466,796 euros (2021: 3,033,421 euros), growing by -179% compared to 2021.

The profit of Agricom Tehnika OÜ for 2022 amounted to 1,194,987 euros (2021: 135,782 euros).

Board members received a total of 11,191 euros (2021: 11,214 euros) in remuneration (salary, bonus and other benefits) during the reporting year. Board and council members do not receive pension-related rights from the company.

Labor costs in the company amounted to 515,655 euros in 2022.

In 2022, the company employed 15 full-time employees (2021: 13 employees).

Investments

A total of 541,041 euros (2021: 168,680 euros) was invested in tangible fixed assets during the reporting year.