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's activity report 2022

The Clinical Trials Center continued in the 2022 fiscal year with the preparation and implementation of clinical drug trials. Other medical activity was higher than in the previous fiscal year. This was due to the increase in the interest in vaccination among the public. Training and education of employees in aesthetic and anti-aging medicine continued.

From the treatment side, research continued for successful diagnostics and effective treatment of Lyme disease. The number of patients with skin and sexually transmitted diseases was in the same range as in the previous fiscal year.

Traditionally, participation took place in several foreign countries, including outside the European Union, in relevant conferences and seminars, including organizing seminars ourselves.

The business's medical institution still has the right to issue an internationally valid vaccination certificate, and this has also been done during the observed period.

For the next calendar year, 2023, the company has received several interesting studies, which among other things develop the professional skills of employees. The fulfillment of existing long-term research contracts continued. The studies offered require the hiring of some doctors and nurses by the middle of the next fiscal year at the latest.

There were several foreign missions for training purposes and also participated in negotiations for possible new contracts.

As always, some offers prove to be economically harmful, so there were several rejections of offers on our part.

As the specific research training still takes place in Central and Southern Europe and not in Estonia anymore, this fact has taken significant time resources even when the training has been paid for by our ordering partners.

Receipts from partners have improved compared to previous years, i.e. invoices have been paid by the due date at the latest.

As in previous years, laboratory and other diagnostic-related services were purchased from other medical institutions during the observed period.

International audits ended in the 2022 fiscal year with recognition of our employees' preparation and work.

The sales revenue for 2022 was 5,937,999 euros. The result for the 2022 reporting year was a profit of 3,261,762 euros.

The World Health Organization (WHO) received initial reports of a new coronavirus (COVID-19) from China in December 2019. During the first months of 2020, this virus spread all over the world, and on March 11, 2020, WHO declared the virus outbreak a pandemic. As the situation is uncertain and rapidly changing, the management does not currently consider it appropriate to give quantitative estimates of the possible impact of the pandemic. At the time of preparing the report, the management has no information that the impact of the coronavirus would likely jeopardize the company's continuity of operations within 12 months from the reporting date.

Main financial ratios:

Indicators Calculation Method 31.12.2022 31.12.2021

Profitability net profit / sales revenue 0.55 0.40

Solvency general level current assets / short-term liabilities 13.67 2.68