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's activity report 2022

Sandman Group AS is a 100% privately owned joint-stock company. The company was established in 1995.

The main activity of the company is the wholesale of household appliances and consumer electronics. The company's activities are aimed at the Baltic market.

Sandman Group AS is an experienced and recognized partner for several of the world's leading manufacturers.

In its activities, Sandman Group AS places great emphasis on monitoring the market and responding to its developments. We are constantly improving our range and selection of brands. Today, we work daily with nearly 300 companies and are able to offer a reliable and trustworthy partnership to companies of all sizes.

The development of wholesale trade is closely related to general economic growth and environment. 2022 was

a difficult year for the Estonian economy. According to Statistics Estonia, Estonia's gross domestic product fell by 1.3% in 2022. The year is characterized by a general economic slowdown.

This is strongly reflected in the second half of the year, where the economic downturn exceeds the growth of the first half of the year.

During 2022, private consumption fell into decline. In the fourth quarter of 2022, it was -1.9%, which is the weakest result since the first quarter of 2021. Household expenditures on goods, including home goods, fell the fastest.

In 2022, the consumer price index increased by 19.4% compared to the 2021 average. Compared to the previous year, electricity reaching homes increased by 94.4%, gas by 123.8%, solid fuel by 73.5%, and heat energy by 49.1%.

Inflation, which began with energy price increases, spread to other sectors in the second half of the year.

The price increase was supported by the conflict between Russia and Ukraine that began in February. The impact of energy prices, the increase in food prices, the increase in service prices - all this led to an increase in forced spending, which in turn changed consumer consumption patterns. Sandman Group AS's turnover increased by 5.6% in 2022 compared to 2021, exports to European countries by 32.9%. Characteristic of the strong connection to retail trade, Sandman Group AS typically sees a growth in turnover in the fourth quarter.

More than 130 employees worked in the company in 2022.

In 2022, the company started implementing the RELEX goods sales and supply chain planning system. Through the introduction of the system, we aim to optimize the entire purchase-sales and supply chain in the first stage. The focus in further stages is on shaping price and advertising strategies.

In addition, in 2022, we developed a new environment for solving customers' post-purchase problems.

Total investments in the company's fixed assets in 2022 amounted to 936 thousand euros. Investments of 400 thousand euros are planned for 2023.

According to the economic forecast of the Bank of Estonia, conditions for economic recovery will improve. During 2023,

GDP will rise, but since the growth is based on the economic downturn that took place in the second half of the previous year, the volume of the economy will still be 0.6% smaller compared to 2022. Against the background of such external developments, we want to keep our turnover and profitability at least at the same level as in 2022.

Sandman Group AS recognizes its social responsibility towards customers, employees, the environment, and society. Through various activities, the company reduces its environmental impact and guides customers to make more environmentally conscious choices in their purchases.