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's activity report 2022

The field of activity of Tõrva Consumers' Cooperative (hereinafter Tõrva TÜ) is the retail sale of food, consumer goods and building materials. Tõrva TÜ owns and operates 10 stores. Tõrva TÜ is part of the Coop Estonia group.

The sales revenue growth in 2022 compared to 2021 was 4% for the cooperative as a whole. The turnover of the consumer cooperatives accounts for 80% of the cooperative's turnover, including the turnover of Tikste and Valga Consumer Cooperatives, which accounts for 63%.

Investments were made in 2022 to the extent of 435 thousand euros, renewing the refrigeration equipment and furnishings of Valga Consumer Cooperative, implementing Smart Cash Register projects in Tõrva and Tõrviku Consumer Cooperatives, and expanding the sales area in Ala store.

The average number of employees in 2022 was 110.

Objectives

The objectives for 2023 are: - Increasing turnover and margin - Increasing turnover speed - Efficient use of working time and the introduction of relevant software in all stores - Continuing to update consumer cooperative solutions in both technological and commercial directions

Management

There have been no changes in the board and council. The board has one member, the council has three members.

During the reporting period, a total of 40.5 thousand euros were paid to the board member, and 1.9 thousand euros were paid to the council members.

Main financial ratios

Source data (euro) 2021 2022

Current assets 2268608 1985200

Short-term liabilities 1822984 1764083

Cash 1108752 747102

Liabilities 2015816 1885144

Assets 3167635 3317469

Inventories 976027 1064549

Profit for the reporting year 621935 280506

Equity 1151819 1432325

Financial ratio Used formula 2021 2022

Net working capital Current assets-Short-term liabilities 445624 221117

Short-term debt

Current assets/Short-term liabilities 1.244 1.125 coverage ratio

Liquidity ratio Cash/Short-term liabilities 0.608 0.424

Debt ratio Liabilities/Assets 0.636 0.568 (Current assets-Inventories)/Short-term

Liquidity ratio 0.709 0.522 liabilities

Return on equity (ROE) Profit for the reporting year/Equity 0.54 0.196

Return on total assets (ROA) Profit for the reporting year/Assets 0.196 0.085