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's activity report 2022

The main activity of AS Eesti Pagar is the production and marketing of bakery and confectionery products.

The company mainly markets its products in the Republic of Estonia, European countries and abroad.

In 2022, AS Eesti Pagar had a turnover of 78.93 million euros. The main product range did not change significantly in 2022.

In 2022, 1.8 million euros were invested in production fixed assets.

I Major events during the reporting period.

During 2022, events took place in the company that affected the company's financial results in 2022 and whose impact will continue to improve the financial results of the following years, increase customer satisfaction and significantly improve the working environment: (cid:127) Sharp increase in energy and raw material prices.

(cid:127) Increasing market share.

(cid:127) Investing in new technologies, technical improvement of production processes.

(cid:127) Significant increase in export volume.

(cid:127) Product development, introduction of new products based on changes in consumer eating habits and preferences.

(cid:127) Development of the company's product safety, quality management system.

II Training.

In 2022, employees participated in professional further training in Estonia.

Individual retraining and dismissals of employees have taken place, which will continue in 2023.

Competence - coping with changes in technology, quality, food safety, etc., continuous development of the workforce was valued in training programs.

III Perspectives.

In 2023, turnover growth, further expansion of bakery product sales is planned.

Main objectives for the 2023 financial year: (cid:127) maintain stable product quality (cid:127) develop product range (cid:127) technically and technologically improve production processes (cid:127) expand sales in foreign markets (cid:127) develop information technology in production, sales, finance and other areas towards more modern integration, ensuring the efficiency of company management.

IV General development of the operating environment and its impact on financial results.

Strong competition in the bakery product market has created a need: (cid:127) heightened attention to product quality and product development, (cid:127) to implement more environmentally friendly production, (cid:127) to reduce packaging and direct them to recycling, (cid:127) to find new foreign markets, (cid:127) to deal with information technology development, (cid:127) to deal with employee training.

AS Eesti Pagar's labor resource is still affected by the shortage of skilled labor in Estonia, which makes it difficult for the company to secure competent labor.