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's activity report 2022

General

Kingspan Insulation OÜ was established in December 2012 and the company started selling insulation boards in 2013

in Estonia, Latvia and Lithuania.

The parent company is Kingspan Insulation Oy. The company is part of the Irish group Kingspan Group PLC.

The main activity of the company is the sale of insulation materials suitable for use in new construction and renovation.

The boards in the company's product range under the brand names Therma and Kooltherm reduce energy consumption.

In 2022, the company had 7 employees.

In the 2022 financial year, the company earned sales revenue of 10,256,515 euros (2021: 9,059,355 euros), which is 13% more than in the previous year.

The goal for the 2023 financial year is to achieve sales revenue of approximately 7,000,000 euros.

No investments were made during the reporting year, there were no projects in the field of research and development, nor any other significant events that would affect the economic results of the next year.

Main financial ratios

Financial indicators, in euros 2022 2021

Sales turnover 10,256,515 9,059,356

Operating profit -47,701 -102,603

Current assets 1,949,344 1,783,952

Short-term liabilities 848,587 623,207

Equity 1,113,050 1,160,745

Total assets 1,961,637 1,783,952

Financial ratios 2022 2021

Sales growth 13.2% 60.6%

Net profit margin -0.47% -1.13%

Coverage ratio of short-term liabilities 2.3 2.87

Return on equity -2.4% -5.8%