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's activity report 2022

Svensky Kaubanduse AS is a 100% Estonian capital-based company engaged in the wholesale of food and industrial goods, established in 1992.

The company is the official importer of many companies' products, the most famous of which are S.Pellegrino, Aqua Panna, Zott, Käserei Champignon, and Bosto.

Consolidation group structure in 2022

SVENSKY KAUBANDUSE AS

Parent company

MARMITON AS Prego Apartmets OÜ

Subsidiary Subsidiary 100% stake 100% stake

As of 31.12.2022, the consolidation group included:

Marmiton AS (100% stake) - a manufacturer of confectionery, selected bakery products, and frozen bakery products.

Prego Apartments OÜ (100% stake) - the main activity is renting out own or rented real estate and operation. No active activity in 2021 and 2022.

The economic activity of the consolidation group in the reporting year and development directions In 2022, the sales revenue of the Svensky Kaubanduse AS consolidation group was 18.73 million euros (2021: 16.39 million euros). Sales revenue growth compared to 2021 is 14.32% or 2.35 million euros.

The profit of the Svensky Kaubanduse AS consolidation group in 2022 was 733.9 thousand euros; including the net profit of AS Marmiton for the financial year 68.9 thousand euros.

The parent company's sales revenue in 2022 was 17.07 million euros (2021: 14.85 million euros), sales revenue growth 15% per year.

The sales revenue of the subsidiary Marmiton AS in 2022 was 4.51 million euros (2021: 4.14 million euros), sales revenue growth 8.9% per year. The share of Marmiton AS's exports in the company's sales revenue in 2022 was 29% or 1.31 million euros (2021: 29%). The company's main foreign markets are Finland, Latvia,

Lithuania.

The biggest challenge for the entire consolidation group in 2022 was the increase in the prices of raw materials, electricity, gas, transport, and consequently goods. Most suppliers of raw materials and goods raised prices two to three times during the year, and as a result, the group's companies were repeatedly forced to raise sales prices.

In 2022, the turnover of many product groups increased in money (price increase), but the numerical sales of products decreased. The same trend continues in 2023. The main goal of the group's companies in the 2023 reporting year is to maintain sales revenue and cope with price increases.

Marmiton AS goals for 2023.

Marmiton AS has set a goal for 2023 to increase sales revenue to 4.8 million euros (+7%). The challenge continues to be changes in input prices in the first quarter of the year, but there are signs of price stabilization. The change in energy prices in the first months of 2023 has been positive for the company - the price of gas energy has made a noticeable decrease compared to the fall of 2022.

Investments of the consolidation group

The Svensky Kaubanduse AS consolidation group invested 46.9 thousand euros in fixed assets in 2022, of which 29 thousand euros in the subsidiary AS Marmiton. In 2023, it is planned to invest 60 thousand euros in industrial equipment (Marmiton AS). Svensky Kaubanduse AS has initiated a project to build a new cold storage with an area of 800 m2. The exact size and schedule of the investment have not yet been confirmed and the implementation will probably be in 2024.

Financing strategy of the consolidation group in 2023 no new loans are planned to be taken and the consolidation group is dealing with the repayment of old loans according to the schedule.

Dividend policy of the consolidation group