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's activity report 2022

The main activity of GF Anapol is the import and wholesale of welding materials, accessories and equipment, abrasives and personal protective equipment. We also offer automated cutting machines and welding robots. As a side activity, we also offer real estate operator services. The company's market is mainly Estonia. The net turnover of the company in the financial year was 6.5 million €. At the end of the year, the company had 17 employees and the total amount of wages calculated for them was 473 thousand €, including 71 thousand € for the management. The net profit for the financial year was 699 thousand €.

In 2022, the main objectives of GF Anapol OÜ were to increase product sales among potential consumers, increase the number of customers, product development, and rapid response to pandemic and war-related restrictions.

2022 was quite difficult for the Estonian economy. Economic growth and GDP were significantly lower compared to previous years. There was a rapid increase in prices in energy and other sectors related to the company's activities. In terms of employment among the 15-74-year-old population, Estonia had fallen in the EU countries' ranking as many large companies went bankrupt.

Price increase in Estonia is growing, mainly due to fuel and energy. In 2023, the price increase continued to grow and the process does not slow down and does not stop at the moment. Although the peak of the economic growth cycle has been passed, wage growth remains vigorous due to the lack of labor supply and primarily raises the prices of services, but also goods. At the same time, the significant impact of tax increases in previous years on overall price growth is decreasing, but the increase in energy prices began to affect the cost of the consumer basket much more.

Changes in exchange rates and interest rates did not have a noticeable effect on the company's financial results as the company has no loan agreements and the percentage of transactions in other currencies was very low.

In 2023, it is planned to maintain market share, increase exports and expand the product range.

The CEO of the company is Indrek Vannamik.

Main financial ratios

Year 2022 2021

Sales revenue (thousand €) 6514 5676

Revenue growth (decline) 14.8% 9.3%

Gross profit margin 22.38% 21%

Net profit (thousand €) 699 387

Profit growth 80.83% -18.07%

Net profitability 11% 7%

Short-term obligations coverage ratio 10.39 9.51

ROA 13.4% 8.09%

ROE 14.49% 8.83%

Formulas used in calculating ratios:

Revenue growth(%)=(sales revenue 2022-sales revenue 2021)/sales revenue 2021*100

Gross profit margin (%)= (sales revenue-goods, raw materials and services)/sales revenue*100

Profit growth (%)=(net profit 2022-net profit 2021)/net profit 2021*100

Net profitability (%)=net profit/sales revenue*100

Short-term obligations coverage ratio (times)=current assets/short-term liabilities

ROA (%)=net profit/ total assets*100

ROE (%)=net profit/ total equity*100