This company's branding has already reached 7,285 peopleand his is followed by 29 Storybook users.On average, the company has been rated 3.5 points.and commented 10 times.

's activity report 2022

The main activity of OÜ Biomarket is the retail and wholesale of organic, health and wellness products.

The 2022/23 financial year was very difficult for Biomarket. The rise in energy prices and interest costs, along with high inflation, had a clear negative impact on the purchasing power of the population, leading to a decline in the consumption of food and consumer goods as a whole, particularly affecting the consumption of more expensive organic products. For Biomarket, this meant a decline in sales revenue compared to both the previous and earlier years. At the same time, inflationary pressure continued to push costs upwards, and the year ended with a significant loss for the company.

Biomarket's sales revenue for the 2022/23 financial year was 5.6 million euros (2021/22: 6.5 million), a decrease of -13.22% compared to the previous 12-month period. Nearly 85% of sales revenue came from Biomarket's own retail channels, and 15% was wholesale. The main product groups are food, beauty and health goods, and cleaning products. The loss for the reporting year is -637 thousand euros (2021/22: loss -338 thousand euros). The average number of employees at Biomarket OÜ in the 2022/23 financial year was 44 employees (51 employees in 2021/22).

Due to the generally difficult economic environment, we focused on reducing the company's cost base in the 2022/23 financial year, including a nearly 14% decrease in the average number of employees compared to the previous year. We also decided to close the Biomarket store in the Solaris Center (the closure was implemented in May 2023). In addition, we optimized the company's product portfolio with the aim of increasing inventory turnover and reducing stock levels.

We expect the difficult economic environment to continue in the 2023/24 financial year, so we will continue to take steps to reduce the company's cost base and increase efficiency (including inventory turnover) with the aim of bringing the company's cost level in line with reduced turnover. At the end of the 2022/23 financial year, we significantly increased the volume of training in work processes and customer service-related internal training, and we will maintain a strong focus on internal training throughout the 2023/24 financial year. In the autumn of 2023, we plan to make the majority of Biomarket's range available through the Wolt platform, which will provide the opportunity for fast delivery of products (including perishable and fresh goods) to customers.

Based on the first months of the 2023/24 financial year, we see that the decline in sales has stopped and store visits and sales are gradually starting to increase, which is partly due to the relatively low comparison base of the previous year. The general financial goal for 2023/24 is to end the year at least at break-even at the EBITDA level and to reduce the cost base/increase efficiency in such a way that as purchasing power and sales gradually recover and demand for healthy and environmentally friendly products starts to grow again, Biomarket's business model is clearly profitable and sustainable, and the company restores positive equity.

Biomarket's mission is to make organic products accessible, everyday and natural. The growth in consumption and production of organic products has a broad positive environmental and social impact - according to a report compiled by Twente University, "Organic Agriculture and the Sustainable Development Goals - Part of the Solution" [1], the development of organic farming has a positive impact on achieving 8 UN-set sustainable development goals (SDGs).

Main financial ratios 2022/2023 2021/2022

Sales revenue 5 638 002 6 497 017

Revenue growth % -13.22 4.57

Net profit (loss) -636 687 -338 418

ROA % -41.83 -16.13

ROE % -604.03 -63.7

Short-term obligations coverage ratio 1.01 1.63

Solvency ratio 0.16 0.35

Formulas used in calculating ratios:

Revenue growth (%) = (sales revenue 2022/2023 - sales revenue 2021/2022) / sales revenue 2021/2022 * 100

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

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

Short-term obligations coverage ratio = current assets / short-term obligations

Solvency ratio = (cash + receivables) / short-term obligations [1] https://www.eosta.com/sites/www.eosta.com/files/documenten/nm19_329_report_nm_lr.pdf