This company's branding has already reached 2,587 peopleand his is followed by 117 Storybook users.On average, the company has been rated 4.7 points.and commented 16 times.

's activity report 2022

The main activity of the company during the reporting year was the operation of pharmacies (code 47731 of the Estonian economic activity classifier).

As of the end of the reporting year, the company has 2 pharmacies in Tallinn and Harju County.

In addition to the usual pharmacy service, the company provides an online pharmacy service and a personal packaging service.

In 2022-2023, the sales revenue of OÜ Mustamäe Pharmacy (hereinafter also the Company) increased by 13% (8,082,806 euros vs 7,172,417 euros in 2021-22), but the profit decreased by 47% (92,016 euros vs 173,250 thousand euros in 2021-22).

The sales growth was mainly due to the e-pharmacy and the personal packaging service unit, respectively 10% and 30%, and the sales revenue growth of the Järve Center pharmacy by 11%.

Covid or the war in Ukraine have no direct impact on the company's results, but indirectly, the general inflation and the lack of price stability have had a significant impact on the company's profitability. The main impact on costs comes from the increase in labor costs by 20% and from the purchased services, advertising costs and IT costs by 91% and 60% respectively. The increase in advertising costs is somewhat deliberate in the competitive online pharmacy market, where we even regained market share and have well over 50% of remote sales turnover by the end of the financial year, positioning us as a clear market leader. The personal medication packaging service achieved its best ever result (sales revenue +30%) in a situation where a competitor has tried to take over customers with a short-term tactic, offering customers a non-existent or marginal service fee, which Apotheka has not followed.

The sales revenue growth of the Järve Center pharmacy is organic and corresponds to the overall retail market growth.

Although the results of Mustamäe Pharmacy OÜ were strong, the company's management sees a continuing deterioration in the economic environment in the near future. Consumer uncertainty and price increases persist. It is difficult to avoid the transmission of price increases for goods and services to the final prices of Apotheka's goods and services.

However, we are trying to take steps on our part to alleviate the increasingly severe price pressure and to ensure the availability of services at affordable prices for everyone. The main concern in the company is the general, all-encompassing continuing price increase. To increase efficiency and save costs, opportunities are definitely sought with the help of IT solution development. The company will continue to develop and improve the e-pharmacy platform in the next financial year.

Financial indicators (in euros) 01.05.22-30.04.23 01.05.21-30.04.22

Sales revenue 8,082,806 7,172,417

Turnover growth 13% 10%

Net profit (-loss) 92,016 173,250

Sales profitability 1.14% 2.42%

Assets 1,279,064 1,546,801

Return on assets (ROA) 7% 11%

Current assets 1,257,712 1,497,303

Short-term liabilities 664,408 1,024,161

Coverage ratio of short-term liabilities 1.9 1.5

Equity 614,656 522,640