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's activity report 2022

KRC Construction Ltd was established at the end of 2012. The main activity of the company is the construction of buildings using the main contracting and project management method, mainly in Southern Estonia.

In 2022, the war between Russia and Ukraine that began in February had the greatest impact on the construction sector and the entire economic environment as a whole. The economic results of 2022 were significantly influenced by the unforeseen sharp rise in input prices (construction materials, energy prices) caused by the impact of the war and major supply problems with materials due to the disruption of existing supply chains. Unfortunately, no one could foresee the risk of war when concluding construction contracts, and for contracts concluded before the war, the rise in prices and supply problems put a very strong pressure on the cost and deadlines of construction contracts.

The materials used on the company's construction sites are used in an environmentally friendly manner.

In 2022, the company completed several architecturally exciting and modern buildings, the largest of which were the Tartu Life Center,

Jõgeva Sports Hall, Jõhvi Technology School and Foxway Business Building.

Major projects completed in 2022: - Tartu Life Center (Annemõisa tn.2 and 4, Tartu city) - Foxway business and auxiliary building (Põhjaringi tn.2, Tartu parish) - Jõhvi Technology School (2.Tartu põik 5, Jõhvi city) - Jõgeva Sports Hall (Rohu tn.10/1, Jõgeva city) - Jõgeva primary health center (Piiri tn.2, Jõgeva city) - Extension to the building of the Estonian Marine Institute (Mäealuse tn.14, Tallinn) - Conversion of Lutsu tn.14 business building into an apartment building (Lutsu tn.14, Tartu city) - Access roads and external pipelines for Allikametsa residential development (Kiili town, Kiili parish)

The company's business is not seasonal or cyclical.

Major projects carried over to 2023: - Elva rescue and police joint building (Kirde tn 14, Elva city) - Külitsa COOP Konsum store (Kiigemäe tee 2, Külitsa village, Kambja parish) - Business and residential buildings (Fortuuna tn 21 // 21a, Tartu city) - Allikametsa residential development row and apartment buildings (Kiili town, Kiili parish)

KRC Construction Ltd has the following subsidiaries: - Allikametsa Elamud Ltd - a residential development project in Kiili parish, where 3 apartment buildings with 39 apartments and 4 terraced houses with 17 terraced house boxes will be built in the coming years. Construction work began at the beginning of 2022.

- Majahaldjas Ltd - owns the Palamuse kindergarten building as a real estate object, which is leased out to Jõgeva parish for 20 years under a concession agreement.

- Multiladu Ltd - a development project on Sepa Street in Tartu, where a multifunctional commercial and warehouse building will be built in the coming years.

In 2022, the company's consolidated sales revenue was 22,746,012 euros (2021: 15,458,354 euros). On average, 26 people worked in the company in 2022 (2021: 24 people). The company's consolidated profit for the 2022 financial year was 443,459 euros (2021: 229,450 euros).

The goal for 2023 is to increase sales revenue, strengthen the company's structure, make operations more efficient and improve the quality of the working environment. The keyword for sustainable development in the unstable construction market is certainly the skillful management of risks in constantly changing conditions.

KRC Construction Ltd does not plan significant investments in the near future. Nor are new significant research and development projects planned for the next few years.

The company has developed its dividend policy and dividends have been paid to shareholders if possible.

Key ratios and indicators:

Title 2022 2021 Calculation method

Sales revenue 22,545,688 15,259,742

Net profit 267,990 206,423

Operating profit before depreciation - EBITDA 324,003 272,939