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's activity report 2022

The company's turnover in 2022 was 5.8 million EUR. The majority of the turnover was still made up of the volumes of the train seat and snowmobile seat departments. However, the production volume of the elastomer department also continued to grow. The volume of the Integral department remained similar to the previous year. In 2022, we continued to invest in the renewal of the equipment park, and this will continue in the current year.

The decrease in turnover in 2022 was caused by a decrease in volumes towards Finland. However, we entered the Swedish and Danish markets, where new projects and development work have already started. The company's goal is to further diversify its activities in different countries.

The financial results can be considered satisfactory.

In 2022, a second production building was completed, with an area of 2500 m2. In the new building, we also created opportunities for our employees for sports activities and leisure time - a gym, sauna and ball games.

The overall development of the company is positive and continues to grow.

Stakeholders are satisfied.

No other significant events that are not reflected in the annual financial statements have occurred.

The general development of Estelaxe's operating environment is also influenced by fluctuating raw material prices on world markets, but also by clients' investment decisions depending on the general macroeconomic situation.

There is no seasonality in our business - if anything, there is a slight cycle in the serial production of snowmobile seats. However, production is also carried out in so-called off-season periods for storage.

A significant investment in 2022 was the completion of the new production building described above.

Investments are planned for the near future, but these depend on several factors and it is too early to mention them here.

The environmental impacts of the company's operations are minimal. Waste is partially recycled. The remaining waste is disposed of in accordance with legislative requirements. Estelaxe has an environmental certificate Iso 14001.

The social impacts are positive - we try to be a good employer for our people with a good salary, a good working environment and through other benefits such as free sports facilities etc. We hedge financial risks with good capitalization and diversification of clients, so that all eggs are not in one basket.

We are constantly looking for new clients, which has also been successful every year, i.e. we have gained new clients every year.

Short-term debt coverage ratio = Current assets/short-term liabilities *2021 - 1.63 *2022 - 1.68

Return on Assets ROA= Net profit / average assets x 100 *2021 - 17.34% *2022 - 2.28%

Return on Equity ROE= Net profit / average equity x 100 *2021 - 35.16% *2022 - 4.60%

Net profit margin = Net profit/sales revenue x 100 *2021 - 14.14% *2022 - 2.59%