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's activity report 2022

The foundation was registered in January 2003 and the purpose of the foundation is to provide quality healthcare and social services. In September 2020, the legal name of the foundation was brought into line with its place of operation - Keila Hospital Foundation.

In 2022, the foundation provided services at Keila Hospital with 402 beds. The average number of employees was 181.

The healthcare financing contract has been concluded with the Estonian Health Insurance Fund Harju department. The foundation's revenues were 10.7m euros in 2022 and the net profit for the reporting year was 1.6m euros.

Other income of the foundation includes other paid services and room rentals.

In 2022, the foundation continued to streamline its business activities, and the foundation's liquidity also improved during the year.

In 2022, the foundation invested in its fixed assets to increase the number of beds and also in equipment to ensure better autonomy and quality of services of the hospital.

In 2022, business activities continued under the conditions of the spread of the COVID-19 virus, which imposed restrictions and additional requirements on healthcare institutions.

The foundation implemented quarantine rules for patients and nursing home residents as needed, made additional expenditures on disinfectants and cleaning agents, and personal protective equipment for employees. Mass testing and vaccination of both employees and patients were also carried out. The COVID-19 emergency situation did not negatively affect the Foundation's revenues and financial situation in 2022.

As of May 1, 2023, the foundation transferred the business unit operating in Keila Hospital to Elora Keila Hospital, the owners of which are identical to the actual beneficiaries of the foundation. During the transaction, the joint-stock company took over all the assets of the foundation's business unit located in Keila Hospital and the related rights and obligations, including those that may arise in the future. The Keila Hospital Foundation will not continue as a hospital operator, but its activities will continue in the field of healthcare development and implementation of healthcare organization.

The foundation's most important financial ratios in 2022 were as follows:

Ratio 2022 2021

Liquidity ratio 1.31 0.51

Return on sales 15.71% 17.35%

ROE or return on equity 51.53% 76.31%

ROA or return on assets 47.85% 17.79%

Formulas used to calculate ratios:

Liquidity ratio (times) = current assets / short-term liabilities

Return on sales (percent) = result of the reporting year / revenue from business

ROE or return on equity (percent) = result of the reporting year / net assets

ROA or return on assets (percent) = result of main activity / assets