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's activity report 2022

The main activities of Kulukaubandus OÜ are retail and wholesale of chemical and paper products, packaging materials and food packaging. We continued in this field in 2022. As of 01.02.2022, we merged the sales activities of our previous client Sveiger AS with Kulukaubandus OÜ. We also took over all the employees and continue as a single sales team. This solution ensures us a stronger position in the market and increased revenue. Kulukaubandus OÜ sales points are located in Tallinn, Tartu, Pärnu and Narva. In Tallinn, our main warehouse, we have had increasing direct and indirect costs every year, related to the rental space at Kalda 7C. We have analyzed and found a way to reduce costs this year and will reduce the rental space in Tallinn and move less moving products to Saue warehouse, where costs are significantly lower. As of 01.09.2022, we gave up part of the warehouse space, which is about 1300m2.

The changes resulting from the coronavirus in the Estonian market have not significantly affected our operations. Now, however, we look at this year a little more cautiously, as the war in Ukraine and sanctions against Russia significantly affect the availability of raw materials for manufacturers. We have created larger stocks of main products in our Saue warehouse to ensure deliveries even in case of smaller problems in the supply chain. The changes that came with the enactment of the single-use requirements directive as of 03.07.2021 have been implemented by us and the products in our warehouses comply with the requirements of this directive. In connection with this directive, we have stopped importing and selling EPS food packaging and soup cups. Also, all plastic-containing beverage cups have been labeled to show that the product contains plastic. PS and PP plastic plates have also been removed from the range.

Kulukaubandus OÜ employs 56 workers.

The goals for the next fiscal year are to develop and maintain existing customer relationships. We plan to increase sales volume by 15% for this year

FINANCIAL RATIOS 2022 2021

Short-term debt coverage ratio 1.93 1.67

Debt ratio 50.8 % 58.4 %

Return on Assets (ROA) 8.4 % 5.2 %

Return on Equity (ROE) 17.2 % 12.5 %

Accounting methodology:

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

Debt ratio = liabilities/total assets* 100%

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

Return on Equity (ROE) = net profit/equity*100%