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's activity report 2022

The OÜ Westwood Group was established in 2012.

The company's main activity is the export of sawn timber and roundwood, which started in 2013 and added sawn timber production in a production complex acquired in 2016.

In the reporting year, we continued our main activity. Production continued at the Kuremaa sawmill during the financial year. The main activity was the mediation of round logs from Europe to China. We invested in real estate.

Our main market was the largest timber wholesalers in Asia.

Future plans are to continue the main activity, expand the clientele and suppliers, invest in equipment.

In 2022, an average of seven employees were on the payroll. We bought additional labor services from a company related to a board member. In addition, we use a lot of subcontracting in ports.

Ratios 2022 2021

Sales revenue 15,713,388 32,278,653

Net profit 701,125 3,444,758

Assets 9,764,316 10,453,794

Equity 7,527,640 6,826,515

Turnover growth -51.3% 57.1%

Profit growth -79.6% 31.6%

ROA 7.2% 33.0%

ROE 9.3% 50.5%

Formulas for calculating ratios:

Turnover growth (%) = (sales revenue 2022 - sales revenue 2021) / sales revenue 2019*100

Profit growth (%) = (net profit 2022 - net profit 2021) / net profit 2021*100

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

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