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's activity report 2022

Main activities and their results

Comagro OÜ was established in 2015. The company's main activities are the wholesale of cocoa beans, cocoa products, coffee, freight transport and logistics-related services.

In 2022, Comagro OÜ's sales revenue amounted to 9,944 thousand euros (2021: 790 thousand euros), which has grown 11.6 times compared to the previous year.

In 2022, Comagro OÜ's operating profit amounted to 615.7 thousand euros.

Main financial ratios for the financial year and the previous financial year and their calculation methodology 2022 2021

Sales revenue (thousand euros) 9,944.4 790.4

Revenue growth (%) 1,158.1 negative

Operating profit margin (%) 6.2 2.5

Net profit (thousand euros) 604.3 13.4

Profit growth (%) 4,409.7 141.3

Net profitability 6.1 1.7

Short-term liabilities coverage ratio 2.1 5.6

Return on assets (ROA) % 31.6 2.3

Return on equity (ROE) % 73.7 6.2

Formulas used in the calculation of ratios:

Sales revenue growth (%) = (sales revenue 2022 - sales revenue 2021)/ sales revenue 2021 * 100

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

Profit growth (%) = (net profit 2022 - net profit 2021)/ net profit 2021 * 100

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

Short-term liabilities coverage ratio (times) = current assets/short-term liabilities

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

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

Significant investments made during the reporting year In 2022, Comagro OÜ began developing a new project, the Chocolate House. The plan is to produce chocolate and other cocoa products for retail and wholesale.

During the reporting year, 116.7 thousand euros (2021: 1.9 thousand euros) were invested in fixed assets.

Number of employees, labor costs and board fees and benefits In 2022, Comagro OÜ employed 6 full-time employees, whose salaries, including holiday pay and social security contributions, amounted to 148,819 euros.

In 2022, the board of Comagro OÜ consisted of three board members, who were paid a salary of 72,903 euros.

Risks related to changes in exchange rates and interest rates during the financial year and the period of preparation of the report

Due to the fact that in 2022, settlements with customers and suppliers were made in euros and USD, the risks associated with changes in USD/EUR exchange rates were high.

Changes in interest rates did not have a noticeable impact on the company's financial results, as there were no major fluctuations in the Euribor level and the company's loan agreements are with fixed interest.

Future plans

The goals for 2023 are to increase the wholesale of cocoa beans, cocoa products and coffee in Europe and the Baltic countries and to conclude long-term cooperation agreements with new buyers.

The company's management strives to keep the company's economic activity stable, but does not rule out the discovery of new challenges and opportunities.

In the opinion of the management, Comagro OÜ is still an operating economic entity.

After the end of the financial year, but before the approval of the annual report, no corrections were made to the annual report