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's activity report 2022

AS Electrolux Eesti was established on 10.12.1993. The parent company is Electrolux AB, located in Sweden. There were no changes in the Electrolux Europe structure during the reporting year and Estonia still belongs to the Central and Eastern Europe sales unit (Central and Eastern Europe).

The main activity of the company is the wholesale and marketing of electrical appliances.

The Electrolux Group has been dedicated to improving life for over 100 years and we are on a journey to become a truly sustainable company. Through our sustainability framework, we strive to create a better and more sustainable life for people around the world. In 2022, the

Electrolux Group was recognized as a sector leader in the Dow Jones Sustainability Index (DJSI) in the category of durable household goods and received an A rating from CDP for climate and water.

The company operates only in euros and with equity, therefore there are no significant financial risks associated with financial instruments, exchange rates or interest rates.

In 2022, AS Electrolux Eesti continued its active sales and marketing activities.

There were no significant changes in the organization of sales and marketing activities and logistics for household appliances during the year. The entire sales volume of the company was made up of household appliances and the sale of corresponding spare parts and accessories. The total sales reached 21 million euros, which decreased by 24.5% compared to the previous year's sales (2021: 27.8 million euros).

The sales growth in 2021 was due to two factors. First, the global pandemic sharply increased the demand for household appliances. This sharp growth stabilized during 2022, when the corona restrictions were lifted.

Secondly, due to rising raw material and production costs, the company had to significantly increase sales prices, which reduced market demand for the company's products. However, the increase in sales prices allowed to maintain the profitability of sales, which was reflected in the gross margin, which increased by 1.4 percentage points compared to 2021.

The company employed an average of 10 employees in 2022 (2021: 10 employees).

Labour costs in 2022 were 423,220 euros (2021: 337,888 euros).

Financial indicators (in thousands of euros) and ratios: 2022 2021

Sales revenue 21,008 27,840

Net profit 114 241

Assets 4,290 6,488

Total debt 3,173 5,152

Equity 1,117 1,336

Net profit margin, % 0.54% 0.87%

Asset turnover, times 3.90 5.38

Debt to equity ratio (D/E), times 2.84 3.86

Net profit margin = net profit / sales revenue

Asset turnover, times = reporting year sales revenue / ((reporting year total assets + comparison year total assets)/2*100%)

Debt to equity ratio = total liabilities / equity

The household appliance market has been very volatile and has followed general economic trends. While it has been observed in the industry that the annual seasonality is from August to November with high sales volumes, this is not the case for the last several years and also for the reporting period.