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's activity report 2022

The Estonian Veterinary Clinic OÜ provides veterinary medical services in Estonia, using specially built/adapted premises, modern equipment, and highly qualified personnel for this purpose.

As of April 30, 2023, the Estonian Veterinary Clinic OÜ has 8 animal clinics in Estonia, 3 of them in Tallinn, 2 in Tartu, and 1 in Pärnu, Rakvere, and

Narva.

The total sales revenue of the Estonian Veterinary Clinic OÜ for the reporting period was 4,511 thousand euros (4,034 thousand euros in the period 01.01.2021-30.04.2022), the loss for the reporting period was 697 thousand euros (loss of 467 thousand euros in the period 01.01.2021-30.04.2022).

Negative equity and loss in the 2022/2023 financial year were due to the increase in the cost of goods and services sold.

The annual financial report has been prepared on the basis of the continuity of the company's operations.

Despite the loss incurred in the 2022/2023 financial year and negative equity, the management is optimistic, as based on the approved action plan, the company is expected to become profitable in the coming years, according to the management's assessment.

To solve possible short-term liquidity problems, the company has entered into an agreement with the parent company, according to which the parent company is ready to immediately financially support the company in case of economic difficulties and, if necessary, invest additional funds to the extent necessary to ensure the continuity of the company's economic activity.

Financial indicators 2022/2023 2021/2022

Sales revenue 4 511 236 4 034 338

Operating profit margin -14.14% -9.65%

Net loss -697 096 -466 989

Net profitability -15.45% -11.58%

Short-term obligations coverage ratio 0.38 0.54

ROA -50.86% -28.73%

ROE 188.91% 39.11%

Operating profit margin: operating loss/sales revenue*100

Net profitability: net loss/sales revenue*100

Short-term obligations coverage ratio: current assets/short-term obligations

ROA: net loss/total assets*100

ROE: net loss/equity*100