This company's branding has already reached 7,901 peopleand his is followed by 17 Storybook users.On average, the company has been rated 4.8 points.and commented 13 times.

's activity report 2022

Codeborne OÜ is a software company, with the main area of activity being software development, and to a lesser extent, software training and consulting. The company's sales revenue for the reporting year was 5,632 (2021: 4,772) thousand euros and revenues mainly consisted of software development work. Codeborne OÜ's clients are predominantly Estonia-based companies, but with the easing of coronavirus-related restrictions, the proportion of international clients has also increased. Thus, Codeborne OÜ's exports have increased compared to 2021, and in 2022 it was 1,863 thousand euros.

Codeborne OÜ produces specialized software according to customer requirements, we develop information systems for the financial, energy and medical sectors.

Codeborne OÜ's role in Gridio OÜ's development in 2022 was minimal as a minority shareholder, we do not play an active role in this venture. However, it was pleasing to see that Gridio was able to grow its customer base and attract investments in 2022.

As of the end of 2022, Codeborne had 46 employees, with plans to increase staff in 2023.

In 2023, plans are to continue offering software development work and active sales both in Estonia and abroad. The investments to be made in this are planned to be covered from own funds.

The general business climate in 2022 is volatile due to Russia's attack on Ukraine. The significant increase in energy prices has also significantly affected companies. Such an environment has forced companies to reduce their investments in software on the one hand, and on the other hand, the need for smarter software solutions with a positive economic impact is greater than before. For example, in the energy sector, we clearly see a shift in focus towards software systems that provide relief for price increases.

Codeborne OÜ's business activities are not affected by seasonality.

Codeborne OÜ's activities do not have significant environmental or social impacts. As an employer, we have created a few new jobs every year, but Codeborne OÜ is not a large employer.

Codeborne OÜ does not have direct risks associated with exchange rates, interest rates, and stock prices, as customer contracts are concluded in euros.

Codeborne OÜ will continue in the same areas of activity in the next financial year.

TEUR 2022 2021

Balance sheet total 3,066 2,859

Sales revenue 5,632 4,772

Operating profit (EBIT) 2,362 2,179

Profit for the reporting year 2,058 1,858

Operating profitability* 42% 46%

Net profitability** 37% 39% * Operating profitability = operating profit / sales revenue ** Net profitability = net profit / sales revenue