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's activity report 2022

The main activity of Kasesaag OÜ is the processing, chipping and transportation of energy wood to consumers, the trade of wood chips and the provision of bulk goods transportation services to customers.

In 2022, Kasesaag OÜ significantly increased its business volumes, due to the rise in prices and volumes.

The company purchased a production base to ensure the increase in the volumes of its main activities, where it can maintain and repair the company's machinery, store energy wood and wood chips on the territory, and garage machines.

The company started selling wood chips to foreign markets and plans to expand its sales to new target markets and increase export volumes in the future.

In 2022, the operating environment underwent extremely unpredictable turbulent changes. On February 23, 2022, the Russian Federation launched a full-scale military aggression as a continuation of the war of destruction against the statehood and independence of Ukraine, which began in 2014. Russia demanded guarantees from Western countries that the NATO alliance would not expand further eastward, as Russia considers the former Warsaw Pact countries in Eastern Europe to be within its sphere of influence. Such a geopolitical reversal of a century changed the world's capital and commodity market risk assessments, and a crazy price rally began in the world markets, and money printing and inflation accelerated. The Estonian economy turned into a decline and had the worst indicators in the entire euro area, with inflation and economic downturn.

The company's business activity is cyclical and directly depends on the change of seasons, both in the procurement of energy wood and in consumer purchase quantities, where an interesting opposite correlation can be pointed out between air temperature and the volumes purchased by wood chip consumers.

The company's activities have significant positive environmental impacts, for example, the shrub and the land underneath used for the production of wood chips are put into use and now the shrub can be used as a domestic energy source in heat and power plants.

Main financial ratios for the financial year and the previous financial year and their calculation methodology:

Title Formula 31.12.2022 31.12.2021 (sales revenue 2022 - sales revenue 2021)/ sales revenue

Turnover growth (%) 93.99 99.14 2022 * 100

Liquidity ratio Current assets/Short-term liabilities 1.06 1.16

Debt

Liabilities/assets 0.76 0.56 significance