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's activity report 2022

Introduction

The Estonian Timber Sales Center TÜ (hereinafter EPMK) was established on February 4, 2013 by four Forest Associations (United Forest Owners MTÜ, Sakala

Forest Association TÜ, Private Forest Association Estonian Forest Owners MTÜ and MTÜ Saarde Private Forest Association). A new member has been added, Vardi Private Forest Association MTÜ / now renamed Vardi Forest Association.

The aim of the association is to support and promote the economic interests of its members through joint economic activity in which members participate as suppliers of timber and wood chips. The main activity of EPMK is the organization of the sale of timber established by the members, the promotion of joint sale of timber, the support of the development of private forestry and the increase of membership.

EPMK does not own forest land and equipment for logging, and does not deal with logging or timber transport organization.

The forecasted sales volume for 2022 was 600,000 cubic meters, the actual sales volume was 559,000 cubic meters of roundwood and including exported wood chips 9,900 cubic meters. The sale of timber mainly takes place under DAT or FAS delivery terms, i.e. the goods are handed over at the buyer's terminal. 9 shiploads of timber were sold under FOB delivery terms, or about 30,000 cubic meters.

Revenues, expenses and profit

In 2022, the turnover of the Estonian Timber Sales Center TÜ was 49 million euros. Compared to 2021, turnover increased, but was mainly due to the rise in timber prices, not so much the increase in cubic meters sold. The impact of Covid 19 was not direct and all assortments could be sold. Sales revenue consisted of 99.9% of members' timber sales and 0.1% of other revenues. 2022 ended with a net profit of 43,605 euros. Our main source of income is the fee for organizing the sale of members' timber.

Significant environmental impacts on business The beginning of 2022 saw an improvement in sales opportunities. The weather conditions in the first quarter were satisfactory for forestry, but did not bring the forecasted sales volumes. In the second quarter, members' logging volumes were expectedly small due to bird peace. Sales opportunities were good in the second quarter, but the supply was weak due to logging restrictions. The demand for paper and firewood was unusually high and prices rose weekly. Both heating and all paperwood assortments made all-time price records in the third quarter. The fourth quarter saw a sharp drop in prices and a restriction on purchase volumes. The demand for coniferous logs was consistently good throughout the year and prices remained consistently high. The demand for birch logs was good throughout the year and the high prices that had persisted began to rise even more at the end of the year. The high demand was due to good production sales opportunities and a lack of birch log supply, as the exceptionally high price of heating and paperwood made forest owners cut more low-quality wood.

Seasonality of business

The best time to procure timber is winter, and during this period 30-40% of the annual logging plan is implemented. The winter of 2022 was more suitable for forestry than some previous winter, but there was still little time with frozen soil. The result was 80% fulfillment of sales forecasts in the first quarter. When planning second quarter logging volumes, the activities of the Environmental Board play an important role, as there is no complete clarity whether and where logging can be carried out from April 15 to July 30. If the Environmental Board continues the practice started and stops logging referring to bird peace, it will have a significant impact on us, the entire sector. Two to three months of logging restrictions can no longer be logged afterwards and the supply of wood to industries decreases and employment in rural areas decreases.

Risk of changes in exchange rates and interest rates

Transactions with members and buyers are in euros. No loans have been given or taken during the accounting period. There are no other interest-bearing obligations, so the currency risk is low.

Investments

The period of PRIA "Creation and Development of Producer Group" support has ended and the investment support received under the measure has been fully used.

With the help of the support, we have developed a Document Management Program and Vaheladu.eu. In 2022, we continued to invest in IT developments from our own funds to ensure speed and quality in data processing.

Personnel In 2022, there were 3 employees.

Financial ratios 2022 2021

General level of solvency = current assets / short-term 1.01 0.99 obligations