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's activity report 2022

The main activity of OÜ Kastanikodud is real estate development.

In 2019, Lepa tee real estate development was purchased for the construction of apartment buildings. In 2021, the construction of two 40-apartment buildings began. The construction was carried out by Nordecon

Betoon OÜ. During the reporting year, 77 apartments were sold for a total of 8,755,317 euros. By the end of the year, a loan of 6,604,737 euros was repaid to LHV Bank.

In 2022, the construction of the next three 40-apartment buildings began. Financing for the construction has been obtained through a loan from the parent company Metskond OÜ and in 2022 a new loan agreement was signed with LHV Bank with a limit of 9.2 million euros, of which 1,072,479 euros had been received by the time of reporting. The deadline for using the limit is July 25, 2024.

During the reporting year, 566,380 euros were invested in fixed assets. Mainly for the purchase of properties for new developments.

The company has 2 employees and labor costs amounted to 46.2 thousand euros.

The general macroeconomic situation has not affected the company's financial results. The company's economic activity is not seasonal and there have been no significant environmental and social impacts associated with the activity.

Main financial ratios: 2022 2021

Sales revenue 8,755,317 0

Net profit/loss 1,209,405 -73,041

Short-term liabilities coverage ratio 1.71 1.01

ROA 19%

ROE 76%

Formulas used in calculating ratios: (cid:127) Short-term liabilities coverage ratio (times) = current assets/short-term liabilities (cid:127) ROA (%) = net profit/ total assets*100 (cid:127) ROE (%) = net profit/ total equity*100