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TOOLMARKETING OÜ's activity report 2022

In 2022, the company mainly engaged in the marketing of tools and personal protective equipment, and its home markets were Estonia, Latvia, Lithuania.

The company's sales revenue was 10,704,756 euros, the major cost items were cost of goods sold, labor cost, warehouse services, transport, other purchased services and marketing. The financial year ended with a profit of 50,477 euros.

The war in Ukraine that began in February 2022 and the subsequent economic downturn had a negative impact on the company's Q3 and Q4 results.

2022 was characterized mainly by various price increases. The company's input prices increased for goods, transport, warehouse services, labor costs and other purchased services. The company mainly sells goods produced in Europe and the price increase for these products was very modest.

The price increase for the dominant products in our home markets, produced in Asia, of poor quality and with a large ecological footprint, has been very large.

As a result of such changes, the competitiveness of the goods offered by the company increased.

The company was able to continue to increase the number of customers, but the company did not expand its range due to the deteriorated economic situation.

The main investments in 2022 were made in software development, mainly in improvements to the online ordering environment. The company applied for support from EAS for the creation of a digitalization roadmap and this application was approved. The project was successfully completed.

The impact of changes in the USD and EUR exchange rate on the company's financial results is moderate. The appreciation of the USD against the EUR leads to an increase in the price of some goods and it is not always possible to immediately pass this on to the selling price.

The company's operations are not seasonal. There are some seasonal products in the range, but they do not make up a large part of the turnover.

The company's risks are diversified geographically, by customer group and a significant part of the credit portfolio is insured.

Loans are fixed interest rate until the end of the loan period.

The challenges for 2023 are related to weakened demand and uncertain economic prospects.

We plan to continue to make processes more efficient, digitalization and automation. There is still a lot of room for improvement in supply reliability.

We still believe that our sustainable and cost-effective products and solutions could potentially help many more customers.

Main financial ratios 2022 2021

Sales revenue (eur) 10,689,170 6,758,915

Operating profit (eur) 79,363 190,719

Operating profit margin % 0.74% 2.82%

Net profit (eur) 50,477 160,336

Net profitability 0.47% 2.37%

Short-term obligations coverage ratio 1.20 1.20

ROA 1.51% 4.58%

ROE 7.42% 26.02%

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

Martin Koort