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BALTECO AS's activity report 2022

Introduction In 2022, the traditional business activities of AS Balteco (hereinafter AS Balteco) continued as a manufacturing company. The main product range continued to consist of massage and simple bathtubs; steam saunas, shower cabins, shower panels, Wellspa mini pools and health capsules “Dermalife” and “SpaJet”. The past year's results were influenced primarily by the following factors: changes in the housing and construction sectors in the Baltic States and the European Union; increase in the price of raw materials and materials; revenues from subsidiaries. Revenues, expenses and

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