This company's branding has already reached 9,459 peopleand his is followed by 40 Storybook users.On average, the company has been rated 5.0 points.but there is no comment.

's activity report 2022

Introduction

The main activity of Woodman OÜ is the production and sale of wooden and wood panel furniture and accessories. The company produces residential furniture where different materials are combined - natural veneer, wood, textile, leather, painted mdf. The development of new products takes place in cooperation with several top designers. Over 80 new samples were made annually, of which about 75% later went into production.

Products are sold through Europe's largest retail chains and in e-commerce.

The economic results of 2022 were most affected by Russia's military activity in Ukraine and the skyrocketing input prices as a result of the aftermath of COVID. The unstable economic situation throughout Europe and on other continents did not favor furniture purchases.

Sales revenue and profit

Woodman OÜ's sales revenue in 2022 was 6,700 thousand euros (2021: 6,896 thousand euros).

Sales to European Union countries (excluding Estonia) accounted for 61% of sales revenue, sales outside the European Union accounted for 33%, and sales in Estonia accounted for 6%.

The company's loss in 2022 was 155 thousand euros (2021: profit 77 thousand euros).

Financial ratios 31.12.2022 31.12.2021

Short-term liability coverage ratio (current assets/short-term liabilities) 1.02 1.03

Liquidity ratio (current assets-inventories/short-term liabilities) 0.24 0.24

Turnover profitability (profit (-loss) /sales revenue x 100%) -2.3% 1.1%

Debt ratio (liabilities/equity) 5.08 4.08

Investments In 2022, 50 thousand euros were invested in fixed assets, the majority of which are new production equipment and production program. The finishing line purchased at the end of 2019 for a cost of 446 thousand euros with the support of KIK was put into use at the beginning of 2020.

Staff

The average number of employees of Woodman OÜ during the financial year was 65 employees (2021: 62). In 2022, the company's labor costs amounted to 1,491.7 thousand euros (2021: 1,368.3 thousand euros).

Goals for the next financial year The main goal for 2023 is to select out loss-making products that have arisen due to the sharp rise in input prices and to reduce the cost of production so that the selling price is acceptable to the end consumer.