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's activity report 2022

Aravete Agro AS and its subsidiary Arme Turvas OÜ are companies whose main activities are the production (crop and animal farming) and sale of agricultural products and the provision of services.

In crop farming, the main production consists of growing feed grains and grasses for own consumption and the cultivation and marketing of oil crops. In 2022, the traditional business activities continued in Aravete Agro joint-stock company and its subsidiary.

Aravete Agro AS owns 83.3% of Arme Turvas OÜ. The parent company of Aravete Agro AS is Friestein partnership.

In 2022, the group's sales revenue was 9,563,777 euros (6,657,779 euros in 2021). Sales revenue increased by 43%. The profit from the group's economic activity in 2022 amounted to 1,634,064 euros (profit of 1,095,111 euros in 2021).

In 2022, 1,884,210 euros were invested in fixed assets (737,154 euros in 2021), including 18% in buildings and 81% in agricultural machinery.

Investments in modern agricultural machinery and buildings help to ensure the production of quality agricultural products.

Therefore, in 2023, more attention will be paid to the machines, equipment and facilities used in the company. The results of 2022 were significantly influenced by the Ukraine-Russia war that started in February, which significantly increased the price of fertilizers and purchase feeds and affected the sale price of grain.

The economic activities of Aravete Agro AS do not have significant environmental and social impacts. During the financial year and also during the preparation of the report, no risks related to changes in exchange rates, interest rates and stock prices have emerged. Significant research and development projects and related expenditures did not occur during the reporting year and are not planned for 2023.

Aravete Agro AS continues to be a solvent company with sufficient assets and firm market positions, which has confirmed its competitiveness, sustainability and social stability even in economic downturn conditions. The joint-stock company continues its activities in the same fields.

Key financial indicators of the Aravete Agro AS consolidation group: unit 2022 2021 business profitability % 18.6 18.0 (operating profit/sales revenue) net profitability % 17.2 16.5 (net profit/sales revenue) return on equity ROE % 19.5 16.1 (net profit/equity) return on assets ROA % 8.7 6.2 (net profit/total assets)