Already 5,010 people have seen this company's branding and they are being followed by 115 Storybook user.In average the company has been rated 4.5 points ja kommenteeritud 27 korda.

's activity report 2022

The main activity of Heating World Ltd is the professional sale of energy-saving equipment, pipe materials and metering technologies, along with related support services. The year 2022 was successful for the company, with sales revenue of 8.0 million euros (2021; 7.3 million euros), and a net profit of 484.3 thousand euros (2021; 555.7 thousand euros). The balance sheet of Heating World Ltd as of 31.12.2022 was 4.8 million euros (2021; 4.8 million euros), and the company's equity at the end of the reporting year was 3.6 million euros (2021; 3.4 million euros). The average number of employees in 2021 was 10 people (2021; 10 people) and the wage cost in the reporting year was 538.4 thousand euros (2021; 498 thousand euros).

For the year 2023, the company's management is cautious. The economies of Estonia and Finland fell into a clear decline in the last quarter of the past year, while the inflation rate remains high in society, which central banks are trying to lower by raising interest rates.

In summary, this means a triple squeeze for the consumer, which leads to a decrease in purchasing power and thus a halt in construction sector development activities. The management is also still concerned about the security situation in Europe, which does not show signs of resolution in the short term.

The company's strategy for the coming year is conservative, with the main goal being to improve the service level for existing customers and to increase the engineering competence of the team.

Main financial ratios

Indicator 2022 2021

Sales revenue (thousand €) 8000 7333

Sales revenue growth % 9.10 27.93

Operating profit margin % 7.56 8.19

Net profit (thousand €) 484 556

Profit growth (+) decrease (-) % -12.95 39.77

Net profitability % 6.05 7.58

Short-term obligations coverage ratio 3.02 2.73

ROA % 10.12 11.59

ROE % 13.43 16.25

Formulas used in calculating ratios:

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

Operating profit margin (%) = operating profit / sales revenue * 100

Profit growth (%) = net profit 2022 - net profit 2021 / net profit 2021 * 100

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