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's activity report 2022

OÜ Keystone Shipping was established on 13.01.2012. Active economic activity started in the same year.

In 2022, OÜ Keystone Shipping's sales revenue amounted to 221,399,349 euros.

The board of the company is single-member, nothing has been accounted for or paid to the board during the reporting period.

Keystone Shipping OÜ deals with the sale of sawn timber and the organization of sea freight, ship agency. In 2022, Keystone

Shipping OÜ continued the stable growth of traditional business volumes and securing the market share achieved in previous years.

Last year brought stable growth to the manufacturing industry as a whole. The company's good results were favored by factors such as the growth in sawn timber sales, which was supported, among other things, by focused and cost-effective development activities.

In 2022, Keystone Shipping OÜ's sales revenue amounted to 221.4 million euros. Sales revenue consisted of 44% of production and 56% of services sold.

Meanwhile, production sales decreased by 4% over the year and service sales increased by 160%.

100% of Keystone Shipping OÜ's sales revenue was made up of exports. Service sales to foreign markets increased by 160%. The largest export target country was still

China and South America.

Keystone Shipping OÜ's gross profit amounted to 21.3 million euros, which is 1031.0% higher than last year. The increase in gross profit was based on the growth in service prices. General administrative expenses were 1.1 million euros and marketing expenses were 201.7 million euros.

2022 2021

Operating profit 21,305,638 2,064,936

Sales revenue 221,399,349 148,140,339

Operating profit margin % 9.7 1.39

Net profit 20,970,053 2,129,408

Net profit margin % 9.5 1.44

Equity 29,876,655 8,906,602

Return on equity (ROE)% 70.2 23

Average total assets 85,471,296 46,166,405

Return on assets (ROA) % 24.5 4.7

Current assets 76,529,756 43,100,191

Short-term liabilities 55,564,171 37,222,445

Coverage ratio of short-term liabilities, times 1.38 1.16

Operating profit margin= Operating profit / sales revenue x 100

Net profit margin=Net profit / sales revenue x 100

Return on equity= net profit / average equity for the period x 100

Return on assets=net profit / average total assets for the period x 100

Coverage ratio of short-term liabilities=current assets / short-term liabilities

Goals for the next fiscal year

The main goal of Keystone Shipping OÜ for the next fiscal year is to maintain and secure the company's market position in a cooling economic environment. One of the management's priorities is to continue to increase sales efficiency through cost reduction and employee training. In 2023, Keystone Shipping OÜ plans to invest effectively in marketing and in the search for new clients and areas of activity.