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's activity report 2022

Structure of the Consolidation Group

The consolidation group includes the consolidating unit Engeros Otepää OÜ and the consolidated unit as a subsidiary Finecon Leasing OÜ.

The main activity of the parent company OÜ Engeros Otepää is the import and sale of used motor vehicles.

Trucks and trailers, which were sold in 2022, were brought from Norway, Sweden, Denmark, and Germany.

The subsidiary Finecon Leasing OÜ, established on 11.11.2020, is a financial services company in which the parent company had a 60% stake in 2022.

In March 2023, Engeros Otepää OÜ acquired a minority stake in the subsidiary and now owns 100% of the subsidiary under the new name Engeros Finance OÜ.

In April 2023, the division of Engeros Otepää OÜ began, with the 100% subsidiary Engeros Finance OÜ and the 10% subsidiary JRO Capital OÜ and Veskinvest OÜ separating.

Economic activity of the Consolidation Group

Consolidated sales revenue in 2022 was 33.6 million euros, an increase of 29.1% compared to the previous year.

EU internal sales revenue increased by 24.3% from 23.42 million euros in 2021 to 29.11 million euros in 2022, and sales outside the EU countries by 72.2% (sales revenue in 2021 was 2.61 million euros and in 2022 4.50 million euros).

Since 2017, OÜ Engeros Otepää has represented new Kässbohrer and Carnehl trailers and Compma cranes in Estonia

from Germany. Due to the increase in sales volumes, a new sales area for trucks was established on the Sihva Center property in 2021 and the construction of a new repair hall began. In 2022, the construction of the garage continued, an extension was added to the office building, and new staff facilities and rest rooms were completed.

Investments

As a real estate investment, Engeros Otepää OÜ owns land with the aim of placing the company's financial resources in other types of assets.

Attractive company shares are held on the stock exchange and precious metal has also been purchased.

Prospects and Objectives

The spread of the coronavirus Covid-19 in Europe and the Russian-Ukrainian war that began in 2022 have not had a negative impact on the sales revenue of OÜ Engeros Otepää, rather the demand for used trucks has increased. The used heavy-duty technology market was very active in 2022, as the delivery of new trailers was very heavily disrupted.

In the renewed economic situation, the delivery times for truck spare parts have been extended and the prices of car goods have increased significantly.

Seasonality and cyclicality do not occur in the company's operations thanks to sales all over the world - the risk is mitigated by operating in as many markets as possible.

The risk of exchange rate fluctuations increased in 2022 due to the war in Ukraine. The most risky is the Norwegian krone rate, as Norway is a very large exporter of oil and gas and their economy is very much influenced by energy prices.

In 2023, the plan is to keep an eye on what is happening in the world and try to adapt to the new situation that has arisen due to the war in Ukraine.

During the preparation period of the annual financial statements, no significant events occurred that are not reflected in the annual financial statements, but which significantly affect or may affect the results of the following financial years. Due to the nature of the company's operations, there are no significant environmental and social impacts associated with the operations.

Main unconsolidated financial ratios: 2022 2021

Short-term debt coverage ratio 27.35 17.53

Net profitability 11.72 12.90

Total asset profitability (ROA) 18.30 18.96

Equity profitability (ROE) 18.76 19.70

Formulas used in the calculation of ratios:

Short-term debt coverage ratio (times) = current assets / short-term liabilities

Net profitability (%) = net profit / sales revenue * 100

ROA (%) = net profit / total assets * 100

ROE (%) = net profit / total equity * 100