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AMERESTON OÜ's activity report 2022

Amereston OÜ is a company established on 26.11.2014, mainly engaged in providing construction services in the Finnish market.

The year 2022 ended with good economic results for Amereston OÜ. The previous fiscal year's business activity was aimed at providing construction services and real estate development. Real estate development began as early as 2018, and preliminary negotiations and sales prices were based on previous years. Due to the rapid rise in construction prices, the costs of the houses to be built became significantly higher than initially planned.

The increase in price was not reflected in the already concluded sales agreements. Consequently, the construction costs significantly exceeded the revenues.

In the case of construction subcontracting, Amereston OÜ was largely dependent on the client. Due to the client's payment difficulties, Amereston OÜ also missed a significant portion of the revenues, regardless of previous agreements. In addition, some clients fell into persistent payment difficulties, and bankruptcy proceedings are underway against them.

All of this is reflected in the company's financial indicators for the previous year, resulting in a large loss. The company's loss for the previous reporting year amounted to -516 934 euros.

The company decided to continue operations in the next fiscal year.