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's activity report 2022

Espuit Limited Liability Company (LLC) was established on the 29th of May, 2017. The primary activities of the LLC revolve around the processing of timber and excavation work using crawler excavators and cranes. The company has shown a steady growth in its sales revenue, with a recorded revenue of 522,384 euros in 2022, up from 450,655 euros in 2021. To further increase its revenue base, Espuit LLC utilizes the opportunities permitted in its articles of association.

In the fiscal year, the company reported a profit of 12,556 euros. The working capital of the LLC, which is the amount by which the cost of current assets exceeds short-term liabilities, was 21,682 euros in 2022, down from 64,716 euros in 2021. The short-term debt coverage ratio, which indicates the company's ability to cover short-term creditors' claims with current assets, was 1.19 in 2022 and 1.44 in 2021.

Another significant indicator is the liquidity ratio, which shows the portion of short-term liabilities that the LLC can immediately cover. In 2022, this figure was 0.47, down from 1.22 in 2021. The company's debt ratio, which is the ratio of liabilities to total assets, was 0.48 in 2022 and 0.57 in 2021. The total assets of the company significantly exceed its liabilities.

Espuit LLC's return on sales was 0.02% in 2022, down from 22.14% in 2021. The return on sales is calculated by dividing the profit for the fiscal year by the sales revenue and multiplying by 100. The working capital is calculated as current assets minus short-term liabilities. The short-term debt coverage ratio is calculated as current assets divided by short-term liabilities. The liquidity ratio is calculated as cash divided by short-term liabilities. The company's debt ratio is calculated as liabilities divided by total assets.

As of December 31, 2022, Espuit LLC had a workforce of 5 employees, with one member on the board. The total wage cost, including social security and unemployment insurance contributions, was 32,162 euros. The chairman of the board does not receive a salary.

During the fiscal year, the company made significant investments, including the purchase of a trailer, a Can-Am Outlander, and a Toro Timecutter. Looking ahead to 2023, Espuit LLC aims to continue its work in timber processing and provide services with crawler excavators and cranes. The company also plans to hire new specialists to further strengthen its team.