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's activity report 2022

Oniar LLC is an Estonian capital-based manufacturing company that started its economic activity in 2003. The main field of activity is the production of agricultural and forestry machinery and the manufacture of various metal products. The company's production unit is located

in Märjamaa. Oniar LLC mainly markets its products abroad and a smaller part in Estonia. Compared to 2021, sales revenue increased by 51% in 2022. In 2022, exports to European Union countries accounted for over 93% and increased by 54% compared to 2021. Sales to Estonia increased by 17% compared to 2021.

Main financial ratios 2022 2021

Coverage ratio of short-term liabilities current assets/short-term liabilities*100 783.5% 243%

Return on equity ROE net profit/equity*100 58% 13%

Return on assets ROA net profit/assets*100 50.5% 8.6%

Debt ratio liabilities/equity 13% 33%

The board of Oniar LLC is single-member. The average number of employees during the financial year was 77. Labor costs were 2,150,453 euros.

There are no plans to increase the number of employees next year. No separate fee was paid to the board member for being a board member.

The Covid-19 virus began to spread in March 2020. The impact of this virus on the company has turned out to be less than feared, but initially brought discomfort and uncertainty, which had to be adapted to. Looking back, the biggest challenges were yet to come.

The war started by Russia against the state of Ukraine on February 24, 2022, led to a crazy price increase and supply disruptions in the first half of the year. The company was forced to significantly increase its stock of expensive input prices, to ensure supply security for its customers. The increase in material prices was accompanied by an increase in labor costs due to inflation.

In the fourth quarter of 2022, the rise in input prices slowed down and turned slightly downwards, but the rise in Euribor in turn led to general caution among customers and a decrease in demand.

The management has assessed the company's ability to continue operations. I confirm that, to the best of my knowledge and judgment, the company continues to operate. The main activity will continue in 2023.