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's activity report 2022

The main activity of Nordic Spedition OÜ is international freight transport and forwarding.

The sales revenue for 2022 amounted to 27.2 million and the profit to 0.94 million euros.

In 2023, we will continue with the existing areas of activity and plan a moderate increase in sales revenue.

The board of the company consists of two members. There are no plans to make changes to the board.

The company is involved in a lawsuit where the Company, some members of the management board and employees are defendants. In the opinion of the management, it is unlikely that the claim will be satisfied, as the allegations made in it have not been proven to a large extent.

The main problem in the logistics sector is high fuel prices and a still large labor shortage, which causes an increase in prices and costs. We expect relief for the situation in the fall and work daily on cost control and maintaining the margin.

The seasonality of logistics operations is the same year after year, the largest volumes are in March, April, October and November, the rest of the year is relatively stable.

The company's key financial ratios for the ended reporting period: 2022 2021

Net profitability of turnover 3.5% 3.5%

Net profitability of assets 15.0% 16.5%

Coverage ratio of short-term liabilities 1.50 1.54

Debt ratio 0.42 0.49

Net profitability of turnover (PM) = Reporting year profit (loss) / Sales revenue

Net profitability of assets (ROA) = Reporting year profit (loss) / Total assets

Coverage ratio of short-term liabilities = Current assets // Short-term liabilities

Debt ratio = Total liabilities / Total assets

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