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's activity report 2022

Fields of activity, product and service groups

FarbaHouse OÜ group is engaged in the export, wholesale and retail of construction and renovation paints.

FarbaHouse OÜ group has the right to sell products owned by the Tikkurila Oyj group in Ukraine.

Construction and renovation paints are also produced locally in the Ukrainian subsidiary under the brand name "Kolorit". These products are marketed in Ukraine and Moldova.

Group structure

FarbaHouse OÜ owns 100% of the subsidiary in Ukraine "LLC Kolorit Paints" and 100% of "UP Kraski Kolorit". LLC Kolorit Paints owns 100% of the subsidiary in Ukraine "LLC Isanta".

The impact of the development of the operating environment and risks associated with the activity Due to the military conflict that broke out in Ukraine in 2022, a negative impact on the group's sales volumes and financial results is expected. The continuation of military activity in Ukraine may negatively affect the results and financial position of companies, destroy assets or hinder the continuation of economic activity in a way that management cannot yet determine.

As FarbaHouse OÜ subsidiaries operate in countries whose accounting currencies fluctuate greatly, this has had a significant impact on the group's consolidated financial results. The company is exposed to interest rate risk. Interest rate risk means that a change in interest rates results in a change in the company's cash flow and profit. The interest rates on loans taken by the company are linked to Euribor, these loans have a fixed interest rate. Currency risk arises when future economic transactions or recognized assets or liabilities are fixed in a currency that is not the company's accounting currency. To hedge the risk, part of the money is kept in euros.

The company is exposed to the risk of suffering a loss if market interest rates turn out to be higher than the fixed interest rates on loans granted. Interest rate risk is hedged by adjusting interest rates annually.

The activities of the FarbaHouse group have been affected by the increase in electricity, fuel and raw material prices, which are influenced by changes in exchange prices. The group is exposed to price change risks and is constantly looking for alternative solutions to hedge them.

The company's activities have environmental and social impacts.

Environmental impacts: Use of raw materials: Various raw materials, such as chemical compounds, dyes and solvents, are used in the production of paints and construction chemicals. The extraction of these raw materials can lead to environmental impacts, including depletion of mineral resources and destruction of landscapes.

Waste generation and pollutants: The production process generates waste, including packaging, residues and pollutants. It is important that paint and construction chemical manufacturers implement environmentally friendly processes, reuse of waste and recycling, and comply with established environmental requirements.

Social impacts: Employment and economic development: The production and wholesale of paints and construction chemicals can create jobs and contribute to local economic development. The company's activities can be an important employer in the community and contribute to employment.

Employee safety and health: Ensuring the safety and health of the company's employees is very important. The production of paints and construction chemicals may involve the use of hazardous chemicals, and therefore it is necessary to implement appropriate occupational safety measures and training.

Seasonality and cyclicality of activity

Seasonality: Construction and renovation activities are more active during the summer months when the weather is more favorable and construction work is easier. Such seasonal variations affect fluctuations in sales revenue at different periods of the year.

Cyclicality: The construction sector and related fields such as sales of paints and construction chemicals reflect the general state of the economy and can affect construction activity and the demand for related products and services. During an economic downturn, construction activity may decrease, which in turn affects the sales of paints and construction chemicals.

Investments In 2022, prepayments were made for fixed assets in the amount of 177 thousand euros and investments were made in other machines and equipment of 45 thousand euros. Next year, it is planned to invest about 200 thousand euros in fixed assets.

Results of the reporting year and plans for the next year