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's activity report 2022

Tvinex OÜ started operating in March 2012.

The main activity of Tvinex OÜ is providing transportation services with a representative office in Tallinn, there are no branches registered abroad.

During 2022, there have been no changes in the general development of the field of activity that could significantly affect the financial results. There is no seasonality and cyclicity in business activities. There are no risks associated with changes in exchange rates, interest rates, and stock prices.

Business overview

Total sales revenue in 2022 was 28,296 thousand euros.

The profit for the reporting period amounted to 970 thousand euros.

Main financial ratios 2022 2021

Sales revenue (thousand euros) 28,296 22,148

Revenue growth 27.8% 23.4%

Gross profit margin 4.0% 4.4%

Net profit (thousand euros) 970 699

Net profitability 3.4% 3.2%

Short-term liabilities coverage ratio 6.8 3.5

ROA 16.4% 12.3%

ROE 19.3% 17.2%

Formulas used in calculating ratios:

Gross profit margin (%) = gross profit/sales revenue * 100

Revenue growth (%) = (sales revenue 2022 - sales revenue 2021)/ sales revenue 2021 * 100

Net profitability (%) = net profit/ sales revenue * 100

Short-term liabilities coverage ratio (times) = current assets/short-term liabilities

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

ROE (%) = net profit/ total equity * 100

Other areas (cid:127) Employees and management In 2022, the nominal number of employees at the end of the year was 6. Employees were paid a total of 91,473 euros for the reporting year.

The total payroll cost for the reporting year was 122,285 euros, including social security contributions of 30,812 euros.

The board of the company consists of one member. The chairman of the board was not paid in 2022. Also, no payments have been made to persons related to the board member during the reporting year, no benefits have been given or loans granted, and they have no other obligations on behalf of Tvinex OÜ.

The main goal of Tvinex OÜ for 2023 is to expand and secure the company's market position in existing markets.

In 2023, the company will continue with the same activities. No expenses related to development and research activities were made during the reporting year.