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's activity report 2022

Introduction

AS M and P Nurst has been operating since 1991. The activities of AS M and P Nurst include the production of electrical equipment, cable ties, plastic parts and international freight transport.

The goal of AS M and P Nurst is to be successful in the long term, increasing the company's capital and generating income for partners and owners, while providing motivating work, salary and development opportunities for its employees.

The vision of AS M and P Nurst is to be a reliable, specialized, adaptable and environmentally conscious partner in the plastic and electrical engineering segments.

Revenues, expenses, profit The sales revenue for 2022 was 17.9 mil. €. Compared to 2021, sales revenue increased by 0.6 mil. €, or 3.4%. We plan a production volume of 17 mil. € for 2023. In 2022, exports accounted for 88% of total production volume. The main export target markets for AS M and P Nurst are Finland 33%, Germany 24%, Poland 20%, Norway 9% and Denmark 7%.

The net profit for 2022 was 344 thousand. €. Compared to 2021, profit decreased by 324 thousand. €, or 48% .

Key ratios for M and P Nurst 2022 2021

Business profitability (operating profit / sales revenue) % 2.2 4.1

Return on assets ROA (net profit / total assets) % 4.3 8.3

Return on equity ROE (net profit / total equity) 5.8 11.8

Liquidity ratio (current assets / short-term liabilities) 3.6 2.8 The most significant part of the 2022 activity was the assembly of electrical equipment 56%, assembly of cable ties 29%, production of plastic parts 12%, international freight transport 3%.

Risk of changes in exchange rates and interest rates

As most of the company's transactions with suppliers and customers are in euros, the company's exchange rate risk is low.

The interest rate on leased fixed assets is linked to EURIBOR. The Bank of Estonia predicts a continued rise in interest rates in the money markets, and therefore the cost of borrowing is also increasing.

Investments

Although developments have been largely unpredictable and the future is unclear due to the widespread war in Europe, we invested 520 thousand euros in digitalization of production, updating of production technology, logistics and improvement of the working environment in 2022.

In 2023, we plan to invest 250,000€ in digitalization of production, updating of production technology, logistics and improvement of the working environment.

Personnel

The average number of employees in 2022 was 195 and they were paid a salary of 2.8 million euros. Compared to 2021, the average number of employees decreased by 3 people. As of December 31, 2022, there were 198 employees on the list.

ISO 9001:2015, ISO 14001:2015 and ISO 26000 certificates prove that the activities of M and P Nurst are systematic at all levels, that laws, regulations and rules are followed in their activities, and internationally approved quality standards are adhered to.

The board of AS M and P Nurst consists of three members. The total remuneration of the chairman and the board was 103 thousand euros in the reporting year.