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's activity report 2022

The company was engaged in the construction of water and sewerage pipelines and the rental of construction machinery with an operator during the financial year.

In addition, the company is engaged in the cultivation and marketing of cereals and legumes.

The company also offered grain harvesting and drying services.

Obsolete machines were sold and new ones were acquired during the financial year.

In the new financial year, the company plans to continue in the same field, increasing turnover and profit.

The company employed an average of eighteen people during the financial year.

Employees were paid a salary of 528,814 euros, including 0 euros for the board member.

2022 2021

Average number of employees 18 17

Sum of salaries 528,814 458,527

Main ratios 2022 2021

Sales profitability 9.42% 10.13%

Short-term coverage ratio 1.1 1.0

ROA 13.8% 10.5%

ROE 24.4% 19.9%

Gross profit 1,826,933 1,524,139

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

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

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

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

Gross profit (kr) = sales revenue - goods, raw materials, services 2022 will be remembered for a rapid recovery from the effects of Covid-19 on the general economy, inflation and a sharp increase in energy prices. Although restrictions aimed at preventing the spread of the pandemic were still in place in many areas of life, the impact of the restrictions in the field of water and sewerage pipeline construction services was modest.

The receding problems stemming from the pandemic and the full recovery of economies took a terrible blow due to the war unleashed by Russia on February 24. The effects of a completely different kind and level are currently unpredictable, as the impact of sanctions imposed on Russia and

Counter-sanctions imposed by Russia on the Estonian economy will probably only become clear in the second half of 2023.

In the opinion of the board, the company is still operating and the 2022 report has been prepared on the basis of the continuity principle.