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's activity report 2022

AS Hõbevara was established in 2006 for the management and maintenance of Silberauto Group's real estate.

The company bought all the real estate owned by the group members at the end of 2006.

From 2007, 5 representative buildings were also built.

In 2022, 622,308 (in 2021, 1,028,961) euros were invested in real estate, and 3,495,000 (in 2021, 214,032) euros were sold.

Silberauto AS, Veho AS, Silwi Autoehituse AS, Auve Tech OÜ, Auve Production OÜ R.R. Varad OÜ rents premises from AS Hõbevara for their main activities.

In 2021, a subsidiary Peetri Kogukonnakeskus OÜ was established, a contribution was made to the share capital of 2,500 euros.

In 2022, 90% of Shnelli Ärimaja AS shares were acquired, 8,334,109 euros were paid.

The company's board has critically reviewed the real estate investment objects, which are accounted for using the acquisition cost method (acquisition cost minus accumulated depreciation) and did not identify signs indicating a decrease in the value of the asset.

The turnover in 2022 was 4,215,065 (in 2021, 3,604,794) euros. The number of employees at the end of the year is 2. The total amount of salaries was 72,276 (in 2021, 64,618) euros.

The board members did not receive any remuneration. There are no additional costs provided for board members and supervisory board members in case of departure.

No expenditures were made for research and development in 2022, and none are planned for 2023.

The company has not had and hopefully will not have risks related to changes in exchange rates and interest rates.

The main financial ratios for the financial year would be: 2022, 2021.

Net asset return 13% 2.19%

Operating return 93.2% 15.2%. Net asset return is obtained by dividing net profit by total assets.

Operating return is obtained by dividing net profit by net turnover.