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's activity report 2022

HRX AS is an international express delivery service provider established in 1993 in the Republic of Estonia.

The main activity is international and domestic express deliveries (EMTAK 49411 - other road freight transport). In addition to transport services, we offer warehousing services.

The year 2022 was challenging. The war that began in February, the rapidly changing international situation and the resulting increase in uncertainty about fuel and energy prices was again challenging. Background of rampant inflation in both Estonia and neighboring countries. Costs for wages, fuel and purchased services increased. In order to ensure sustainability and profitability, it was necessary to apply unprecedented service price coefficients according to changes in input prices.

At the same time, we focused on ensuring customer satisfaction and improving service quality. Also on efficiency, necessary investments, improving processes and digital solutions, and supporting the motivation of our people. We opened new transport lines, started offering transport solutions for e-commerce. The number of staff increased by about 10%.

During the financial year or the period of preparation of the report, no risks related to changes in exchange rates or interest rates have emerged that would affect the results of 2022.

The most significant events in the financial year 2022. HRX AS's sales revenue was 7,189,746 euros, of which 80% was foreign goods transport and 15% transport in Estonia, 5% of sales revenue covered additional services (warehousing services and forwarding service mediation). A fast direct line to Poland increased sales revenue in this direction compared to the previous year. However, the company's total sales revenue growth was three times higher than planned, exceeding 24%. The team's attitude and commitment and customer loyalty were the basis for the positive result throughout the year.

Financial results for 2022 2022 2021

Sales revenue 7,189,746 5,777,384

Net profit (-loss) 92,462 190,823

Current assets 990,004 906,624

Total assets 1,901,895 1,559,425

Short-term liabilities 987,780 936,771

Total equity 561,605 469,143

Net profit/loss profitability +1 % +3 % (net profit / sales revenue x 100)

ROA or net asset profitability +5 % +12 % (net profit / total assets x 100)

ROE or net equity profitability +16 % +41 % (net profit / total equity x 100)

Short-term liabilities coverage ratio 1.00 0.97 (current assets / short-term liabilities)