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's activity report 2022

Activity Report 2022

OilTrade OÜ was established at the end of 2018, its main activity is the wholesale of lubricants and oils in Estonia.

Since 2019, OilTrade OÜ has been the representative of Petronas, one of the world's leading lubricant manufacturers, in the Baltics.

Competition in both the Estonian and Baltic markets in this field is very tight, but last fiscal year we were able to establish the recognition of the Petronas brand in the markets where the company operates and convince customers of the quality of these products. We increased the sales of Petronas brand products in the Baltics and growth continues next year.

Frequent price increases of oil and base oils caused turbulence in the lubricant market, delivery times of goods were extended and prices rose very quickly.

Thanks to a good team and strong partners, OilTrade was able to keep its stock levels optimal and meet the needs of most customers.

As OilTrade imports products only from Western Europe, geopolitical changes did not affect OilTrade's economic activity. The deterioration of the availability of Russian and Ukrainian products created new opportunities and growth potential for the OilTrade team.

The goals for 2023 are to increase the market share of Petronas and other brands in the Baltics and introduce the advantages of OilTrade OÜ to customers.

Take advantage of the market situation where the quantity of lubricants coming from the east is decreasing and customers have to replace them with higher quality and more reliable western products.

Staff

As of 31.12.2022, OilTrade OÜ had 9 employees. The average number of employees converted to full-time in 2022 was 10 (10 employees in 2021)

The board of OilTrade OÜ consists of two members and the board members were paid a fee of 23 040€. From 01.01.2022 to 31.12.2022, labor costs were 350 210€, compared to 224 568€ in 2021

Main financial ratios 2021 2022

Sales revenue (thousand euros) 3 715 4 745

Revenue growth 45.48% 27.72%

Gross profit margin % 17.2% 19.9%

Net profit (thousand euros) 74.59 69.61

Net profitability 2.00% 1.47%

Short-term obligations coverage ratio 1.11 1.13

ROA (%) 8.33% 5.71%

ROE (%) 85.36% 44.34%

Formulas used in calculating ratios:

Revenue growth (%) = sales revenue 2022 (-) sales revenue 2021 / sales revenue 2021 * 100 gross profit margin (%) = gross profit (sales revenue-cost of goods sold) / sales revenue * 100 net profitability (%) = net profit / sales revenue * 100 short-term obligations coverage ratio (times) = current assets/short-term obligations

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

ROE (%) = net profit/ equity * 100