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's activity report 2022

The main activity of OÜ Forward Tranzit is the forwarding of goods and other services in the field of logistics.

At the end of 2021, we were forced to suspend our operations in Latvian ports due to the conditions of the foreign markets for black metal

Riga and Ventspils. In the spring of 2022, a war conflict arose between Ukraine and Russia, which further complicated the working conditions in the logistics sector, and until August 2022 we had no activity at all.

OÜ Forward Tranzit resumed its operations in August 2022.

We are starting cooperation with our Latvian and Estonian partners on the transshipment of Kazakhstani coal in the port of Sillamäe and further dispatch to customers in Europe.

Services are currently provided only in Estonia, in the port of Sillamäe.

In 2022, the sales revenue from the main activity of OÜ Forward Tranzit amounted to 4,699,218 euros.

The company's management is also engaged in expanding the business - negotiations are constantly being held on the possibility of forwarding other nomenclatures of goods.

Despite the fact that the activity of Forward Tranzit OÜ was profitable during the reporting year, the equity does not meet the requirements established by the Commercial Code as of the balance sheet date. As a result of profitable activity continuing in 2023, the equity has been restored as of the date of preparation of this annual report and its size meets the requirements established by the Commercial Code.

Main financial ratios: 2022 2021

Net sales growth rate 58.40 negative

ROA 33.67 negative

ROE negative negative

Formulas used in the calculation of ratios:

Net sales growth rate = (sales revenue 2022 – sales revenue 2021) / sales revenue 2021* 100

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

ROE (%) = net profit / equity * 100