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's activity report 2022

The main activity of Coral Travel Estonia OÜ is organizing trips.

The 2022 fiscal year is the company's second year of operation. The financial results of Coral Travel Estonia OÜ can be considered good: the company's turnover amounted to 30 million euros, while a new sales point was opened in the center of Tallinn. New destinations were opened for successful development, contracts have been calculated with reliable carriers for 2023, which allows us to offer our customers high-level services. In the coming years, new winter destinations are planned to be opened, and a new sales point will be opened, which will also increase the number of employees.

Recently (in 2022 and early 2023), two new tour operators have entered the Estonian tourism market. The arrival of new tour operators has drawn a certain part of the customer base from the existing operators in the market. Due to the difference in the quality of the products offered, we assume that this fact will not have a significant impact on the financial results of Coral Travel Estonia OÜ in the near future.

Estonian economic indicators and rising inflation are significant factors influencing the activities of the tour operator. Potential customers have become considerably cautious.

During the financial year and the reporting period, no risks related to changes in exchange rates, interest rates, and stock prices have emerged.

Environmental impacts:

Carbon footprint: Travel agencies contribute to carbon emissions in several ways, including air travel, transportation services, and accommodation arrangements.

Ecological disturbance: Mass tourism carried out through travel agencies can cause ecological disturbance in popular destinations.

Overpopulation, habitat destruction, and disturbance of wildlife can affect local ecosystems and biodiversity.

Waste generation: Tourism activity generates a significant amount of waste. Insufficient waste management can lead to pollution of the natural environment.

Social impacts:

Overtourism: The popularity of certain destinations can cause overtourism, where a large number of visitors overload local infrastructure, culture, and communities. This can lead to overcrowded attractions, rising prices, and loss of authenticity, affecting the quality of life of local residents.

Economic inequality: Tourism can exacerbate economic inequality between local communities and larger tourism operators.

The concentration of profits in the hands of travel agencies and large hotel chains can lead to unfair distribution of benefits, leaving local communities with limited economic opportunities

Main financial ratios: 2022 2021

ROA 12.55% -0.03%

ROE 79.43% -0.38%

CR 1.18 1.08

ROA(%)=net profit/total assets

ROE(%)=net profit/total equity

CURRENT RATIO = current assets/short-term liabilities