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's activity report 2022

Kitman Coldteh OÜ is a subsidiary of Kitman Thulema AS and belongs to the OÜ NG Investeeringute group, which operates in the commerce, industry and real estate sectors. Kitman Coldtech OÜ originated from the separation

from Kitman Thulema AS in December 2021.

The Kitman Coldtech OÜ team has long-term experience in the field of refrigeration technology. The company offers commercial and industrial refrigeration system solutions from consultation to turnkey solutions. From design and concept development to installation and aftercare.

Kitman Coldtech OÜ has two business lines: 1. 24/7 monitoring service, maintenance and repair of refrigeration systems.

2. Design and construction of commercial and industrial refrigeration systems.

The fiscal year ending 31.12.2022 was the company's first. In 2022, Kitman Coldtech OÜ had a turnover of 5,005,621 euros, of which 96.81% was domestic sales and 3.19% was sales within the European Union.

As of the end of the year, Kitman Coldtech OÜ employed 14 workers. In 2022, the company's labor costs amounted to 626,662 euros. The board of Kitman Coldtech OÜ consists of 1 member.

The company is aware of the importance of environmentally friendly activities to society. Kitman Coldtech OÜ reduces its environmental impact by using environmentally friendly refrigerants CO2.

In all new refrigeration system installations, we avoid the use of environmentally harmful refrigerants.

The year 2022 was significantly affected by Russia's aggression towards Ukraine. Purchase prices have increased, delivery times for materials have lengthened, wage pressure has intensified, customers have become more cautious.

The main goal of Kitman Coldtech OÜ for the next fiscal year is to maintain and secure the company's market share. In the opinion of the board, Kitman Coldtech OÜ is a stable and prospective company and predicts growth in the company's turnover for 2023. The main activities will remain the same in 2023.

Main financial ratios 2022

Sales revenue (thousand euros) 5,006

Gross profit margin % 31.71%

Profit for the reporting year (thousand euros) 1,179

Net profitability 23.55%

Short-term obligations coverage ratio 3.93

ROA 67.56%

ROE 90.26%

Formulas used in calculating ratios: • Gross profit margin (%) = gross profit/ sales revenue * 100