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's activity report 2022

The main activities of ESTEVE AS are stevedoring, terminal and warehousing services, and the provision of ship agency and mooring services in the Paldiski South Harbor and Tallinn Old Harbor, which are part of AS Tallinna Sadam. In Paldiski South Harbor, the company handles bulk, project, ro-ro and general cargo, and in the Old Harbor, ro-ro cargo.

In 2022, sales revenue was 9.78 (2021: 9.08) million euros and the balance sheet total was 7.46 (2021: 6.98) million euros. The net profit was 0.20 (2021: 0.72) million euros. The profit before interest, taxes, and depreciation (EBITDA) for the reporting year was 0.98 (2021: 1.42) million euros.

The most important financial ratios of ESTEVE AS were: 31.12.2022 31.12.2021

Operating profit margin % 2.85 8.4 operating profit/sales revenue x 100

Net profit margin % 2.03 8.0 net profit/sales revenue x 100

Return on equity % 5.83 20.6 net profit/average equity for the period x 100

Return on assets % 2.75 10.3 net profit/average total assets for the period x 100

Short-term liabilities coverage ratio (times) 0.8 0.9 current assets/short-term liabilities

During the reporting year, 1.3 (2021: 1.0) million euros were invested in fixed assets. In 2023, fixed asset investments of 5.0 million euros are planned, of which 4.36 million euros are for the acquisition of loading equipment.

As of the reporting date, the company has over 40 ha of land (including over 20 ha of open storage areas) and over 1.5 ha of closed warehouses based on ownership, building and lease rights.

In 2022, the company employed an average of 154 (2021: 148) employees. Total labor costs amounted to 4.30 (2021: 3.74) million euros. The members of the board and the council did not receive remuneration.

The company's management system complies with ISO standards 9001:2015, 145001:2015 and 45001:2018. In accordance with the principles, the company takes into account environmental requirements, including the use of modern and environmentally friendly technological solutions in handling goods and exchanging information.

The company's economic activity is traditionally seasonal - in the first quarter, significantly less cargo is loaded than in the remaining quarters. Contrary to the above, due to changes in supply chains and imposed sanctions, the company loaded significantly more and new cargo in the second quarter of 2022.

The course of the Estonian and world economy has a lot of uncertainty and depends on the developments of Russia's aggression against Ukraine. Sanctions and the course of the war significantly affect raw material prices and solutions to supply chain problems. In Estonia, consumer prices are rising significantly, and an increase in the price of borrowed money is expected.

The main goal for 2023 is to provide good and cost-effective service to existing customers and new customers