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's activity report 2022

Lihula Consumers' Cooperative is a member cooperative of Coop Eesti Keskühistu and mainly deals with the retail sale of food and consumer goods. As of 31.12.2022, the cooperative had 14 stores. Of these, 12 are consumer goods stores and 2 are industrial goods stores. On December 8, 2022, it was decided at the board meeting to close the Kirbla store from 01.01.2023 and sell the store building. The reason for the closure was the store's loss in 2022, which was expected to be 12 thousand euros.

As of 31.12.2022, Lihula Consumers' Cooperative had 1948 individual members. The share contribution is 20 euros.

The sales revenue of Lihula Consumers' Cooperative in 2022 was 11,020.2 thousand euros. Sales growth compared to 2021 was 8.9%. The general increase in the price of goods has largely influenced the growth in sales. The rapid increase in energy prices, which is due to the impact of the war unleashed by Russia and the lack of cheaper energy production opportunities in the Baltic States, has contributed to almost half of the increase in the cost of living. Purchase volumes have decreased, and in the store, it is monitored what is cheaper and how the price of goods changes over time.

Investments in fixed assets in 2022 were 233.1 thousand euros. The largest investment of 118.7 thousand euros was made to expand Virtsu Konsum, including 42 thousand euros for building improvement, cold chamber 14.5 thousand euros, self-service checkout 29.6 thousand euros, cardboard press 11.2 thousand euros, as a result of which the store's sales area increased by 75 m2. 67.3 thousand euros were invested to expand Vatla kpl., including a set of shelves 6.3 thousand euros, cold chamber 9.1 thousand euros, air heat pump 14.1 thousand euros and building improvement 37.9 thousand euros, as a result of which the store's sales area increased by 51 m2. The remaining refrigeration equipment Liivi kpl. 3 thousand euros, Kirbla kpl. 1.8 thousand euros, Lihula Konsum cardboard press 8.2 thousand euros, E-Building Center sliding door 5.8 thousand euros. In addition, air heat pumps, floor washing machine, security equipment and electronic scales, espresso machine. In connection with the expansion of the sales area of Kullamaa kpl., prepayments have been made for building improvements 12.4 thousand euros and for refreshing the exterior facade of Lihula Konsum and new lighting 7.8 thousand euros.

Lihula Consumers' Cooperative has cared for its community and made donations to the South-Western Football Club, Matsalu Nature Film Festival and Lääneranna Municipality in connection with the organization of Virtsu Sea Days.

Investments were made from own funds. In 2022, no new loan and leasing agreements were concluded.

All stores use electronic ordering of goods and electronic receipt of invoices. Coop system loyalty card and also Coop Bank cardholders get loyalty card discounts in all cooperative stores. In stores, buyers have the opportunity to pay for the purchased goods in cash, by bank card or by SK+ card.

In August 2018, we started issuing cash as a banking service in stores. The service is free for Coop Bank and Swedbank customers, for other customers the service is paid. In the spring of 2019, a new banking service was added, cash deposit to the customer's bank account, only with a valid Coop Bank card. You can also withdraw money from your bank account with a Coop Bank bank card free of charge.

The opportunity to withdraw cash from the store with an SK+ card is still used. All loyalty card holders and Coop Bank bank card holders collect bonus points according to the volume of purchases. Bonus points money is credited to the buyer's account by the 6th of the following month and the bonus money calculated from points to euros can be used to pay for goods. In 2022, loyalty card holders collected bonus money from purchases 104.3 thousand euros (in 2021 105.7 thousand euros). No bonus is calculated from alcohol and tobacco products.

The average number of employees was 72 people and the labor cost was 1,339.4 thousand euros (in 2021 it was 1,257.1 thousand euros), including wage costs 1,013.5 thousand euros (in 2021 it was 948.3 thousand euros). Wage costs increased by 6.9% compared to 2021. The salary cost of the board was 37.0 thousand euros. The council was paid a fee of 5.5 thousand euros in total.

The profit of Lihula Consumers' Cooperative in 2022 was 1.4 thousand euros, (in 2021 458.2 thousand euros). In addition to the main activity, the profit decreased by 63.6 thousand euros due to the fall in the price of Coop Bank shares on the stock exchange and a tax-free donation of 15 thousand euros to the Red Cross in support of Ukraine through Coop Keskühistu. Dividend income of 3.6 thousand euros was received from Coop Bank shares for the previous financial year.

The main activity of Lihula Consumers' Cooperative does not have significant environmental and social impacts.

The cooperative does not have bank loans, transactions with customers and suppliers are made in euros. Therefore, there have been no risks associated with changes in exchange rates and interest rates during the financial year or the reporting period.

Main financial ratios_ _ _2022________________2021___

Sales revenue thousand € 11,020.2 10,115.9

Sales growth 8.9% 3.6%

Net profit thousand € 1.4 458.2

Profit growth -99.7% 96.5%

Net profitability 0.01% 4.5%

Short-term liabilities coverage ratio 2.1 2.1

ROA 0.04% 12.1%

ROE 0.04% 14.0%