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's activity report 2022

The parent company of Shipco Transport Eesti AS is Shipco Transport Holding A/S in Copenhagen (Denmark). Shipco Transport Group is a large transportation organization holding a leading position in the global market, with its headquarters in New York. The Shipco Transport Group, in turn, belongs to the large transportation organization Scan-Group, whose headquarters are in Denmark. Shipco Transport Eesti AS is part of the international network of Shipco Transport companies, with offices in North America, Europe, and Asia. Shipco Transport Eesti AS offers a complete sea transport solution for both partial container shipments (LCL) and full container shipments (FCL) in both export and import. The company's operating concept is to guarantee customer deliveries to distant destinations on the NVOCC (No Vessel Operating Common Carrier) principle.

Shipco Transpost Eesti AS has a subsidiary Shipco Transport SIA in Riga, Latvia (100% of shares, reg.nr. 40003756229) and a subsidiary UAB

Shipco Transport in Vilnius, Lithuania (100% of shares, reg.nr. 300132777). Both companies are also part of the Shipco Transport network.

The main activities of the subsidiaries are to find customers for Shipco Transport Eesti AS and to provide agency services in Latvia and Lithuania.

Shipco Transport Eesti AS does not prepare a consolidated accounting annual report, as 100% of its shares belong to the Danish registered consolidating entity Shipco Transport Holding A/S, which prepares and publishes the audited annual report of the consolidation group, which complies with the Estonian Accounting Act p 29(2).

As of 31.12.2022, the balance sheet total was 2,593 thousand euros (as of 31.12.2021, the balance sheet total was 5,705 thousand euros).

The financial ratios are as follows:

Indicators 2022 2021

Sales revenue (thous.EUR) 18,717 24,261

Operating profit (thous.EUR) 1,061 2,075

Net profit (thous.EUR) 676 1,985

Current assets (thous.EUR) 2,526 5,624

Short-term liabilities (thous. EUR) 1,498 3,673

Total assets (thous.EUR) 2,593 5,705

Total equity (thous.EUR) 1,095 2,033

Ratios 2022 2021

Sales growth (%) -22.9% 181.3%

Operating profit margin % (Operating profitability) 5.7% 8.6%

Net profit margin % (Net profitability) 3.6% 8.2%

Short-term liabilities coverage ratio 1.69 1.53

ROA (Return on Assets)(% 26.1% 34.8%

ROE (Return on Equity) (%) 61.8% 97.6%

Formulas used in calculating ratios:

Sales growth (%) = (sales revenue in the reporting year - sales revenue in the previous year)/ sales revenue in the previous year*100

Operating profit margin(%)= operating profit in the reporting year/sales revenue in the reporting year*100

Net profit margin (%) = net profit in the reporting year/sales revenue in the reporting year*100

Short-term liabilities coverage ratio = current assets/short-term liabilities

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