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's activity report 2022

Tandem Building OÜ, a company with a rich history and a strong presence in the construction industry, was established in October 2010. The primary focus of the company was the construction of residential and non-residential buildings, carving a niche for itself in the industry. In 2016, Tandem Building OÜ made a strategic acquisition, purchasing Jussike OY, a company based at Vähämuorintie 13, 01450 Vantaa. This investment in the subsidiary was reflected in the acquisition cost, marking a significant milestone in the company's growth trajectory. In 2018, the company underwent a rebranding, changing its name to Tandem Kaubandus OÜ. This change was not just cosmetic but also represented a shift in the company's strategic direction. The consolidated result for the financial year 2022 was an impressive 705,690 euros, demonstrating the company's financial stability and growth potential.

Jussike Oy, the acquired company, specialized in the installation of ceilings and walls, as well as general construction. It had a total of 59 projects under its belt, including major ones like Project Aveneu/Annakatu 18 (main contractor Haahtela OY), Malminkartanon service block plaster walls (main contractor Temotek Oy), Grand Hansa suspended ceilings (main contractor Skanska Talonrakennus Oy), Tampereen Monitoimiareena (main contractor SRV Rakennus Oy), and Carea Sairaalat Oy plaster walls and suspended ceilings (main contractor YIT Suomi Oy). In addition to these, the company also constructed various commercial buildings, hotels, apartment buildings, schools, shopping centers, hospitals, and more. The total turnover for Tandem Kaubandus OÜ in 2022 was 5,488,634 euros, of which 97.33% was made up of sales of goods and management services provided to a company in Finland and several smaller companies in the same country.

The company maintained an average of 8 employees, with labor costs, including taxes, amounting to 345,014 euros. The board member was paid a salary and board member fee totaling 61,623 euros, with additional social security contributions.

The period following the balance sheet date and the approval of the annual report was challenging in many countries, including Estonia, due to the COVID-19 pandemic. This situation also affected OÜ Tandem Kaubandus, primarily through its impact on our clients' business activities and insurance needs. While construction activity has increased, prices are rising, and delivery times are extending.

There were no other significant events between the preparation of the report and the balance sheet date that would require reflection in the annual financial statements or its appendices.

The main financial ratios for 2022 and 2021 were as follows: Revenue growth (%) - 10.39, 61.72; Net profit (in euros) - 705,690, 970,102; Net profitability - 6.24, 7.68; Short-term liabilities coverage ratio (times) - 2.36, 2.56; Net working capital (EUR) - 2,345,570, 2,080,805; Debt ratio (times) - 0.59, 0.40; Return on equity or ROE (%) - 27.57, 27.30; ROA - 11.18, 16.27.

The company's board consists of one member: Ike Lilleorg. The ratios for 2022 are presented on a consolidated basis (the company was obliged to consolidate from 2020).