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's activity report 2022

Introduction

AS Mistra-Autex's main activity is the production and sale of needle-punched and tufted materials and various products made from them, as well as pressure casting and laminated products for the automotive industry.

While in 2021 the company's total turnover was 22,821 thousand euros, in 2022 it was 23,169 thousand euros, increasing by 1.5% compared to the previous year. The budgeted turnover increase was planned to be 13.6%. This was based on the forecast that the automotive industry would no longer be plagued by raw material supply difficulties in 2022. However, the reality, along with

the start of the war in Ukraine, was quite different.

In 2023, sales are expected to grow by 19%. Part of this will be due to an increase in product selling prices and the other part should be due to increased demand from customers along with new, upcoming projects.

Already in 1999, AS Mistra-Autex's quality management system was recognized as compliant with the QS 9000 standard, which was recertified as TS 16949 in 2005. Due to changes in this system, a new recertification took place in 2018 and since then this standard has been known as

IATF 16949.

The ISO 14001 standard was achieved in 2004 and since the end of 2006, some products have also been certified according to CCC (Chinese quality standard).

All these standards are updated annually and all certificates have been extended and are valid to this day.

The VW Group audit at the beginning of 2011 and also in 2016 contributed to achieving the highest, "A" quality level and also a "B" level in development work.

In 2004, the company was recognized with the Ford Q1 quality award and in 2014, the company was awarded the "Volvo Cars Quality

Excellence Award" for exemplary work in development and long-term high quality performance. In addition to these, at the end of 2017, the company was awarded a Silver Medal (The Silver 2017 Supplier Performance Award) by long-term major partner, Adient.

Revenues, expenses and profit In 2022, AS Mistra-Autex's sales revenue was 23,169 thousand euros, an increase of 1.5% compared to the previous year. The majority of sales revenue was made up of the sale of main products.

The share of AS Mistra-Autex's exports in sales revenue was 98.7% and the main export target countries were Sweden, Czech Republic, Finland, Slovakia and Poland.

The company's general administrative expenses were 3,102 thousand euros, an increase of 36% compared to the previous year. Both wage and energy and transport costs increased.

Marketing expenses were 983 thousand euros and increased by 17% compared to the previous year.

AS Mistra-Autex's profit for the reporting year was 631 thousand euros.

Main financial ratios 2022 2021

Sales revenue (thousand euros) 23,169 22,821

Turnover growth/decline 1.5% 7.8%

Gross profit margin 18.09% 23.90%

Net profit (thousand euros) 631 2,917

Short-term obligations coverage ratio 4.33 4.32

Formulas used in calculating ratios:

Turnover growth (%) = (sales revenue 2022 - sales revenue 2021)/ sales revenue 2021*100

Gross profit margin (%) = gross profit / sales revenue *100

Short-term obligations coverage ratio (times) = current assets/short-term obligations

Significant environmental and social impacts

Since 2004, the company has acquired the environmental certificate ISO14001. As part of this, the company undergoes an international