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's activity report 2022

The main activity of AS Saurix Petroleum is bunkering of ships and wholesale of petroleum products.

The sales revenue of AS Saurix Petroleum in 2022 was 27,855,041 euros and the profit was 331,041 euros. Sales revenue consists of 91% sales to European Union countries, 9% sales outside the European Union countries.

The sales revenue of AS Saurix Petroleum in 2021 was 12,709,547 euros.

The goal for the current and following fiscal years is to increase the volumes of all areas of activity of AS Saurix Petroleum and to expand to new markets.

The average number of employees in 2022 was 19 and the total amount of employee salaries was 399,454 euros.

The remuneration paid to the members of the board and council was 35,514 euros.

Main financial ratios

Calculation methodology 2022 2021

Return on equity ROE Net profit / equity * 100 212.26% 118.43%

Return on assets ROA Net profit / total assets * 100 11.84% -10.15%

Equity ratio Equity / assets * 100 5.58% -8.57%

Investments

Due to the nature of the company's operations, the company does not require significant fixed assets, all major services (car transport, terminal services, etc.) are purchased and/or rented from third parties. The board does not foresee significant changes in the investment strategy in the next fiscal year.

Main risk factors:

The company's operations are generally not seasonal or cyclical, but rather depend on agreements/contracts. The company's operations do not involve environmental risks, as the company does not store fuel itself but uses storage services.

Currency risk

As fuel prices are quoted in US dollars, the exchange rate of the US dollar to the euro also affects the company's financial results. To hedge this risk, the company abandoned transactions in US dollars at the end of 2022 and switched to settlement in euros, which as a whole ensures the minimization of currency risk.

The owners of the company have confirmed that the company will continue to operate.