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's activity report 2022

Karia OÜ has been involved in the wholesale of food products since 1992.

Since the 2012 financial year, Karia OÜ became the parent company and the consolidation group consists of:

Parent company - Karia OÜ located at Kesk tee 15, Jüri, Harju County, subsidiaries: Karia Food OÜ - established on 22.02.2012, located at Kesk tee 15, Jüri, Harju County - participation 100%

Netomarket OÜ - established on 06.07.2020, located at Kesk tee 15, Jüri, Harju County - participation 100% affiliated companies: Jumbostrap OÜ - affiliated company since 31.05.2009, located at Kadaka tee 137a, Tallinn - participation 40%

Polystrap OÜ - affiliated company since 02.03.2012, located at Kadaka tee 137a, Tallinn - participation 25%

Belek OÜ - affiliated company since 02.05.2022, located at Kaunis tn. 13, Tallinn - participation 50%

The main activity of the group's parent and subsidiary companies is the wholesale and retail of food products, with the main target group being HORECA sector companies, cruise ships sailing in international waters, but also Estonian and European food producers and wholesalers, two food stores have also been opened

In Tallinn. Affiliated companies are engaged in the production of plastic packaging. With the company's economic growth in mind, investments were made in 2022 financial year

into a property in Harju County for the purpose of expanding its warehouse spaces. The construction of a culinary workshop is also in the final stages, which is expected to start operating at the beginning of 2023 and aims to provide customers with a wider range of products and greater delivery reliability and reliability in the sales market.

2022 was still a difficult year in the European economy. This was still influenced by the outbreak of the coronavirus that began in the 2020 financial year, but now there is a lot of information about this disease and the vaccines that have been developed, so in the first half of the year, coronavirus restrictions were significantly eased and then practically abolished, but the war in Russia that began on February 24, 2022

in Ukraine also significantly affects the world economy. Sanctions imposed on Russia and Belarus cause price increases and deficits in Europe for many goods and services. Karia OÜ does not have direct economic ties with Russia and Belarus and the increase in the price of goods and services has not significantly affected the company's economic activity. Sales revenue increased by 35.8% compared to the 2021 financial year.

The result of the 2022 financial year has also been influenced by the constant rise in the prices of food raw materials and foodstuffs. Competition in the field of commerce is still price-sensitive, intense and tense. Customer-friendly and flexible pricing policy and customer service continue to be a priority. Karia OÜ's business is not seasonal or cyclical and its activities do not have significant environmental and social impacts. During the financial year and the reporting period, no risks related to changes in exchange rates, interest rates and stock prices were identified, as most economic transactions with suppliers and customers are in euros. Loan interest rates are linked to Euribor, which is on the rise, but with constant cost control, there is no significant risk to the company's operations.

The most important financial indicators of the parent company are presented in the table below:

Indicator 2022 2021

Turnover growth (decline) % 35.8 5.4

Profit growth (decline) % 44.8 -2.7

Net profitability % 2.8 2.6

Short-term liabilities coverage ratio (times) 1.2 1.2

ROA % 4.6 3.6

ROE % 9.8 7.4

Formulas used in the calculation of ratios:

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

Profit growth (decline) (%) = (net profit 2022 - net profit 2021)/ net profit 2021 * 100

Net profitability (%) = net profit/ sales revenue * 100

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

ROA (%) = net profit/ total assets * 100

ROE (%) = net profit/ total equity * 100 In 2023, the situation in the European economy is still very difficult, Russia's aggression in Ukraine and the imposed sanctions continue and still affect the Eurozone economy. In connection with the situation, the plan is to keep sales activity stable by looking for new markets, creating new customer relationships and maintaining existing ones. The company's further plans are still aimed at further development and growth. Our goal is still to be a good partner to our customers and to provide them with the best service at competitive prices.