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's activity report 2022

In 2022, the main activities of AS Pristis were providing customers with the construction of security and low-voltage systems and automation systems for buildings, as well as maintenance services for building technology systems. Pristis offered the design, sale, installation, and maintenance of the mentioned building technologies in Estonia, Latvia, and Lithuania.

The main clients of AS Pristis in 2022 were private companies and state structures. Compared to 2021, AS Pristis's turnover increased by 22% in 2022.

In 2022, AS Pristis was part of the SIA Pristis and UAB Pristis group. AS Pristis has a 100% stake in the mentioned companies.

The maintenance department of AS Pristis is continuously developing, and in 2022, the turnover of the maintenance department accounted for 49.5% of Pristis's Estonian market turnover.

Today, Pristis has achieved a fairly firm leadership position in the market for maintenance services for technology systems, and we have a very positive image in this market, which is a significant help for the continuous growth of the maintenance portfolio. To support the desired growth, we have successfully managed to hire new good specialists. Maintenance activity allows us to avoid seasonality or cyclical economic activity.

The results of the project department have been largely influenced by the projects sold in 2020 and 2021, where the profit margin was low and the deadlines have been significantly postponed due to Covid and the war in Ukraine, which resulted in additional labor costs not included in the budget. Also, materials significantly increased in price last year.

We have successfully managed to find our niche in the building automation renovation market, where we have been able to perform work directly for the end customer, thereby achieving better profitability with lower risk. It is also important to note that to prevent supply problems and price increase risks, we have prudently ordered a stock of more critical components.

In 2023, the company intends to continue its business in the construction of low-voltage systems and building automation systems and in the maintenance of building technology systems. The goal is to increase the profitability of the project department, and in addition to improving profitability in the field of maintenance services, the goal is to moderately increase sales volume.

The rapid development of the AS Pristis maintenance department helps to mitigate external environment risks. Through years of experience, we have seen that maintenance turnover is less affected by external factors compared to the construction market, and there is usually no cyclicity in maintenance turnover. In 2023, we expect 5.7 million euros.

The average number of employees in the group was 159 and their salaries totaled 3934060 euros. The remuneration of the board members of the group's companies amounted to 181700 euros, the remuneration of the council members amounted to 26112 euros.

AS Pristis does not have sales in foreign currency. The share of purchase invoices in foreign currency is 1%, so the impact of exchange rate changes is not significant.

Main financial ratios: 2022 2021

Sales revenue 17 394 384 14 247 839

Revenue growth 22% 2%

Net profit 8 169 5 010

Profit growth/decline 63% -98%

Net profitability 0% 0%

Short-term obligations coverage ratio 1.28 1.27

ROA 0% 0%

ROE 1% 0%

Formulas used in calculating ratios: * Sales growth (%) = (sales revenue 2022 - sales revenue 2021)/ sales revenue 2021 * Profit growth (%) = (net profit 2022 - net profit 2021)/ net profit 2021 * Net profitability (%) = net profit/ sales revenue * Short-term obligations coverage ratio (times) = current assets/short-term obligations * ROA (%) = net profit/ total assets