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's activity report 2022

Autospirit Tartu OÜ represents Nissan, Kia, Fiat, and Mazda car brands. In addition to selling new cars, the company also deals with the purchase and sale of used cars, as well as maintenance, repair, and warranty repair. The company is located at Lääneringtee 50, Tartu.

The Estonian car market in 2022 was comparable to 2021. The long period of the COVID epidemic and military aggression in Ukraine have left their mark on the entire economy and, of course, the automotive sector. Despite supply difficulties, the increase in energy and other inputs, Autospirit Tartu

OÜ's financial results have been stable compared to 2021.

In Tartu, a total of 2998 new passenger cars and 440 commercial vehicles were sold in 2022, so a total of 3438 new vehicles, comparable to the previous year.

Autospirit Tartu OÜ sold a total of 602 new cars and 345 used cars in 2022, or a total of 947 vehicles (including new cars by brand Kia 418, Nissan 60, Mazda 110, Fiat 14), which is 144 cars less than in 2021. Autospirit Tartu OÜ's share of the total new vehicle market in Tartu was about 18%.

The turnover during the reporting period remained comparable to 2021 and presumably, the sales volumes in 2023 will remain stable. The company has also been continuously working with importers to increase customer satisfaction and has taken specific steps to ensure that customer satisfaction is better than in previous periods.

The company actively uses various financing instruments for inventory financing, in the second half of 2022, the European Central Bank started raising Euribor, which significantly increases the company's interest expense on financial obligations in 2023. The company does not predict the impact of interest expense growth to be disproportionately large and hindering business activity.

Key financial ratios 2022 2021

Sales revenue (euros) 21 816 816 21 821 430

Gross profit margin (%) Gross profit (sales revenue-cost of goods sold)/ 13% 12% sales revenue*100

Profit for the reporting year (euros) 495 494 499 493

Net profitability (%) Profit for the reporting year /sales revenue*100 2.0% 2.3%

ROA (%)Profit for the reporting year / total assets *100 10.3% 12.8%

ROE (%)Profit for the reporting year / equity*100 17.0% 18.5%

Investments No investments were made in fixed assets in 2022 (2021: 85 thousand euros). Significant investments are not planned for the near future. The company's operations do not have direct environmental impacts that would deviate from the norm.

Staff

The average number of employees at Autospirit Tartu OÜ during the financial year was 35 (2021: 35) employees. In 2022, the company's labor costs amounted to 1.2 million euros (2021: 1.1 million euros).

Goals for the next financial year Expectations for 2023 are moderately optimistic, the COVID epidemic has largely been brought under control and inflation caused by the effects of the war in Ukraine is stabilizing. The increase in Euribor can be considered a negative factor, which limits consumers' ability to lease vehicles.

2022 gave confidence that even in harder times, the company is strong and sustainable, thanks primarily to good employees and represented brands, which provide the opportunity to offer a very wide range of vehicles.