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's activity report 2022

Energy Market Network Construction Ltd started operations in the fall of 2014.

The company's main activity is the construction and operation of power substations, offering customers favorable energy solutions. We help companies save on electricity connection and network costs, increase or decrease throughput, and rebuild existing electrical connections according to changing needs.

In 2022, Energy Market Network Construction Ltd and the same group companies SNL Energy 1 Ltd and Baltic Energy

System Ltd signed a merger agreement, the balance sheet date of the merger was 01.01.2022.

As a result of the merger, 14 substations were added to the company with a book value of 1,234 thousand euros.

No new investments were made in substations during the reporting period (in 2021, 92 thousand euros were invested in improving existing substations).

The sales revenue for the reporting year was 12,464 thousand euros (in 2021, 7,687 thousand euros) and the profit was 541 thousand euros (in 2021.

the profit was 265 thousand euros).

In 2023, the company will continue the same activity.

Main financial ratios: 2022 2021

Net profitability (%) 4.34 3.45

Operating profitability (%) 4.65 5.27

Short-term liabilities coverage ratio 1.62 1.10

Debt ratio 58.92 77.35

ROA (%) 7.57 4.70

ROE (%) 18.43 20.76

Formulas used in calculating ratios:

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

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

Short-term liabilities coverage ratio = current assets / short-term liabilities

Debt ratio = liabilities / total assets * 100

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

ROE (%) = net profit / total equity * 100 2022 2021

Sales revenue 12 464 415 7 687 331

Net profit (-loss) 540 742 265 211

Operating profit (-loss) 579 184 405 473

Current assets 2 490 934 1 995 256

Short-term liabilities 1 541 062 1 817 098

Total liabilities 4 208 346 4 361 485

Total assets 7 142 412 5 638 916

Total equity 2 934 066 1 277 431