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's activity report 2022

Jaagumäe OÜ is a company that was registered on January 25, 2017.

Economic activity practically started on November 1, 2017, when FIE Mart Timmi ceased operating as a sole proprietor and transferred his stocks and assets, claims and obligations, and employees to Jaagumäe OÜ, which continues to operate in the same fields - mixed farming.

In 2022, Jaagumäe OÜ's sales revenue was 5,120,727 euros.

In 2023, Jaagumäe OÜ will continue with mixed farming - growing cereals, rapeseed, potatoes, and vegetables. It also continues to engage in pig farming.

The board of Jaagumäe OÜ is single-member and no remuneration has been paid to it.

Main ratios: 2021 2022

Net profitability % 14.84 25.45 (net profit : sales revenue x 100)

Short-term obligations coverage ratio 8.75 13.86 (current assets : short-term obligations)

ROA % 8.17 13.29 (net profit : total assets x 100)

ROE % 8.68 13.80 (net profit : total equity x 100)

Jaagumäe OÜ adheres to environmentally friendly management requirements, thereby protecting and improving biological and landscape diversity.

To preserve the environment, the company uses modern machinery and production methods. The company has made necessary investments in environmental protection. In 2021, a covered liquid manure storage facility worth 106,837 euros was built to reduce ammonia emissions. We also consider it important to promote local rural life and therefore work closely with the local government and other companies in the region.

An average of 70 employees work year-round at Jaagumäe OÜ. We provide work for a large number of people, including Ukrainians, offering them accommodation if possible. We allow young people to do school internships in the company, the main goal of which is to increase young people's interest in agriculture. One of the biggest problems of the company is finding motivated and long-term workers.

According to the 2022 overview of the agricultural sector, it was a stable year overall. In crop production in the Southeast Estonia region, one can be satisfied with the yield due to the weather in 2022. The growth in sales revenue in 2022 was mainly contributed by the increase in product prices, as the growth in quantities remained modest at the national level.

In pig farming, the price of meat increased compared to 2021, but high grain and feed prices combined with high energy prices did not bring significant profit.

In 2022, we invested a total of 771 thousand euros in fixed assets, of which the purchase of agricultural land worth 349 thousand euros and investment in machines 342 thousand euros. In 2023, we plan to update the technology and build a new grain warehouse, the estimated cost of which may be 170 thousand euros.

Jaagumäe OÜ will continue with crop production and pig farming at the same volumes.

In 2023, Jaagumäe OÜ will implement all necessary measures to continue economic activity and protect its people. The military conflict between Russia and Ukraine that began on February 24, 2022, affected Jaagumäe OÜ mainly with the increase in the purchase price of fertilizers and modest price fixing of earlier grain and rapeseed sales. Overall, 2022 was full of unpredictability but it has been overcome with a positive result. Jaagumäe

OÜ During the preparation period of the 2022 financial year report, no risks related to changes in exchange rates, interest rates, and stock prices have emerged.

Tarmo Timmi

Board member