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's activity report 2022

Baltic Sea Dental Clinic Ltd was established in 2014, the main activity is the provision of dental services.

In 2022, Baltic Sea Dental Clinic Ltd continued its operations in Lasnamäe Health House, at the address Tallinn, Linnamäe tee 3 and Mustamäe clinic at the address Tallinn, Keskuse 16. The fixed assets were invested 421,300 euros, including 323,718 euros in modern dental equipment, which ensures modern and patient-friendly treatment.

In 2022, the average number of persons working on the basis of an employment contract was 97 (2021: 84) and the number of persons providing services on the basis of a contract of obligations was 5.

Labour costs amounted to a total of 5,133,691 euros (2021: 3,912,587 euros).

Main financial ratios: 2022 2021

Sales revenue € 10,866,859 7,972,514

Sales revenue growth % 36.3 35.95

Operating profit € 1,741,599 1,371,533

Operating profit margin % 16.03 17.2

Net profit € 1,735,319 1,371,215

Profit growth (+) decrease (-) 26.55 112.16 %

Net profitability % 15.97 17.2

Short-term obligations coverage ratio 2.6 1.01

ROA % 30.93 32.71

ROE % 37.44 46.33

Formulas used in calculating ratios:

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

Operating profit margin (%) = operating profit / sales revenue * 100

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

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

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

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

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

The main goal of Baltic Sea Dental Clinic Ltd for the next financial year is to provide quality dental services and to expand and secure the company's market position in the existing market. In 2023, we plan to continue the growth of turnover.