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's activity report 2022

Business Activity

Fund Construction was engaged in the construction of commercial, residential and public buildings during the reporting year. The company's turnover in 2022 decreased compared to 2021, but profit increased.

In 2023, activities will continue in the field of general construction.

Competition in the main contracting market is becoming more intense and the risks associated with projects are high.

The volume of construction work is decreasing and many developments are being postponed due to high construction prices and increased financing conditions. OÜ Fund Construction's focus is on preparing and implementing its own commercial and residential development projects. OÜ Fund Construction will also continue to provide services in its main field of activity, which is main contracting in the design and construction of public and residential buildings.

Extraordinary events In 2022, a full-scale war took place in Ukraine, which greatly affected the construction market and construction prices. This year, we forecast a decrease in high inflation and a stabilization of construction input prices affected by it. However, the euribor, which has risen since the end of last year, significantly slows down the activity of the construction market.

The impact of exchange rate fluctuations and stock market fluctuations on the company's operations is absent as transactions are in euros and the company does not have fair value transactions.

Plans for the next year The war that started in Ukraine in 2022 has stopped or postponed constructions prepared and planned by private capital and the state. Risks in the economy are still high. The construction sector is affected by increasing competition between construction companies due to a shrinking market. This year, we will focus on completing previously started residential construction projects, and we also plan to start construction of two or three new residential construction projects.

The management expects that operations will continue for the next 12 months. The company's business activity is not seasonal or cyclical. In construction, modern construction solutions are used and new living environments are created.

Investments

During the reporting year, design, preparation and construction work was carried out on properties owned by the company. In 2022, one property was acquired for a total of 727 thousand euros.

Staff and calculated salaries.

The company employed an average of 61 people during the reporting year. The wage cost in 2022 was 2,669 thousand euros, including

remuneration paid to board members 180 thousand euros.