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's activity report 2022

In the year 2022, AS Go Oil, a leading fuel supply company, continued its operations, providing fuel to both businesses and individuals. This was not just limited to the supply of fuel to transportation companies under the AS Go Group, but also extended to the retail sale of liquid fuel, oils, auto chemicals, and other goods at their Tartu station. In addition, AS Go Oil remained an active participant in the wholesale fuel market. When compared to the previous year, 2021, AS Go Oil's sales revenue saw a significant increase of 5,688 thousand euros. The net turnover from the company's realization amounted to 15,697 thousand euros, a substantial increase from the 10,009 thousand euros recorded in 2021. The profit for the reporting year was 320 thousand euros, a considerable increase from the 61 thousand euros recorded in 2021. During the reporting year, investments were made into tangible fixed assets amounting to 2,165 euros, a decrease from the 29,878 euros invested in 2021. The main financial ratios for the years 2022 and 2021 were as follows: - Net profit margin: 2.04% in 2022, up from 0.61% in 2021. - Short-term obligations coverage ratio: 2.72 in 2022, down from 4.92 in 2021. - Equity ratio: 63.38% in 2022, down from 79.85% in 2021. The calculation formulas for these ratios are: - Net profit margin: Net profit / Sales revenue * 100 - Short-term obligations coverage ratio: Current assets / Short-term liabilities - Equity ratio: Equity / Total assets * 100 The average number of employees in 2022 remained the same as in 2021, at 8. The total amount accounted for salaries, including social security contributions, was 215 thousand euros, an increase from the 169 thousand euros in 2021. Looking ahead to 2023, AS Go Oil anticipates a further cooling of the economy and plans to pay more attention to credit risk management. The company does not take on currency risk, and the growth of Euribor does not directly affect its operations. Furthermore, AS Go Oil plans to intensify its marketing efforts and shift its focus towards private customers, a sector where it sees potential for further growth.