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      O-I ESTONIA AS

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      This company's branding has already reached 10,805 peopleand his is followed by 426 Storybook users.On average, the company has been rated 5.0 points.but there

      O-I ESTONIA AS current status

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      Andmerobot
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      This company's branding has already reached 10,805 peopleand his is followed by 426 Storybook users.On average, the company has been rated 5.0 points.but there is no comment.

      Activity report 2022

      Introduction

      According to the Estonian economic activities (EMTAK), the activity code of O-I Estonia AS is 23132 - glass container production.

      In the 2022 financial year, 78,560 tons of glass containers were produced (76,862 tons in 2021). Compared to 2021, production volume increased by 1,698 tons or 2.2%. The increase in production volume can mainly be explained by the decrease in the effects of the COVID-19 pandemic on sales volumes and

      the increase in demand for glass containers in Europe due to the conflict between Russia and Ukraine. Sales increased by 9.1 million euros or 20.4% compared to the previous year. The increase in sales volume was also partly due to the increase in sales prices in 2022. The aim of raising prices was to secure the company's cash flow and ensure the company's production capacity at exceptionally high energy prices.

      According to the O-I Europe business model, the company's sales regions are still Estonia, Latvia, Lithuania, Finland, Norway, and Sweden. Glass containers are also produced in Järvakandi to meet the demand of other customers in Europe. Such sales take place through the sales organization of the O-I Europe unit located in the respective country.

      In 2022, O-I Estonia AS's sales revenue was 54.1 million euros, mainly from the sale of its own glass containers.

      The net profit of O-I Estonia AS was 4.4 million euros. In 2022, dividends of 0.9 million euros were declared and paid out.

      A more detailed comparison of the cost structure and its changes is provided by the profit and loss account, which also includes comparative data for 2021.

      Main financial ratios: 2021 2022

      Sales revenue (in thousands of euros) 44,937 54,082

      Turnover growth / -decline (%) 12.8 20.4

      Net profit (in thousands of euros) 3,591 4,419

      Profit growth / -decline (%) 153.2 23.1

      Net profitability (%) 8.0 8.2

      Coverage ratio of short-term liabilities 3.1 3.2

      Return on assets ROA (%) 8.3 9.1

      Return on equity ROE (%) 10.2 11.4

      Formulas used in calculating ratios: (cid:127) Turnover growth (%) = (reporting year sales revenue - previous year's sales revenue) / previous year's sales revenue * 100 (cid:127) Profit growth (%) = (reporting year net profit - previous year's net profit) / previous year's net profit * 100 (cid:127) Net profitability (%) = net profit / sales revenue * 100 (cid:127) Coverage ratio of short-term liabilities (times) = current assets / short-term liabilities (cid:127) Return on assets ROA (%) = net profit / total assets * 100 (cid:127) Return on equity ROE (%) = net profit / total equity * 100

      In 2022, fixed assets were acquired for 2.2 million euros. Investments were aimed at improving production quality. Projects that were partially left unfinished due to supply difficulties caused by the conflict between Russia and Ukraine are planned to be completed in 2023.

      The volume of investments planned for 2023 is 0.8 million euros.

      Personnel

      The average number of employees of O-I Estonia AS in the 2022 financial year was 160 (158 employees in 2021 respectively). As of December 31, 2022, the company had 160 employees under employment contracts. The company's total payroll, which includes both wages and salaries of employees working under employment and service contracts, as well as remuneration of board and council members and special benefits, was 6.6 million euros in 2022 (5.9 million euros in 2021 respectively). Board and council members were charged taxable income of 174.0 thousand euros.

      There were no changes in the company's management in 2022.

      Goals for the next financial year

      The main goals of the company for 2023 are to increase production efficiency, reduce production losses and improve product quality. Significant attention will continue to be paid to the company's energy efficiency, environmental and employee safety, and improving general occupational health conditions.

      The budgeted production volume for the 2023 financial year is 77,000 tons of glass containers.

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