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's activity report 2022

AS Topauto Tartu's activities include the purchase, sale, commission sale, maintenance, repair service, and warranty repair of SEAT, Suzuki, Hyundai, Isuzu, SsangYong, and Citroen vehicles and mechanisms, as well as their accessories and spare parts.

In 2022, AS Topauto Tartu's sales revenue amounted to 8.9 million euros, which is 6.5% more than the previous year (8.4 million euros). The company's sales revenue is divided among three departments: car sales, spare parts sales, maintenance. In 2022, AS Topauto Tartu sold 261 new cars (265 cars in 2021), of which 37 were SEAT, 34 Suzuki, 105 Hyundai, 1 SsangYong, 4 Isuzu, and 80 Citroen passenger cars. New cars were sold for 5.9 million euros (5.9 million euros in 2021). The sale of new cars accounted for 66.48% of the company's total turnover.

In addition, used cars were sold for 766 thousand euros (795 thousand euros in 2021), which accounts for 8.57% of the total turnover.

The turnover of services was 868 thousand euros (679 thousand euros in 2021), which accounts for 9.7% of the total turnover.

Spare parts were sold for 1.36 million euros (1.02 million euros in 2021), i.e., 15.1% of the total turnover.

AS Topauto Tartu's profit for 2022 was 184,413 euros (546,205 euros in 2021).

The board consists of 3 members. No remuneration was paid to the board members in 2022, the remuneration of the management board members and the management was 56,664 euros (43,032 euros in 2021). The average number of employees during the financial year was 25 employees (also 25 employees in 2021).

In 2022, the company's labor costs amounted to 896 thousand euros (732 thousand euros in 2021).

The beginning of 2022 was promising after two Covid years. Sales and order transactions took place immediately at the beginning of the year, there was a queue in after-sales service and the workload was constant. The economy was rising from Covid and the hope for the recovery of normal business was justified. However, the Russian-Ukrainian war that began on February 24 put its inevitable stamp on the future. If in the first half of the year there were still transactions and availability of new cars and a quick solution to the war was believed, then in the second half of the year, first of all, the availability of cars from the factory again and in the fall there was a rapid cooling of the economy.

In summary, we were still able to remain profitable throughout the year.

The waiting queue for after-sales service work constantly grew in the first half of the year, so we hired additional technicians and were able to increase the throughput of the maintenance workshop. This also increased sales turnover. With the increase in maintenance visits, sales turnover also increased for spare parts and bodywork, so we also hired additional specialists in these departments.

In summary, the difficult war year of 2022 can be considered successful. The car sales department did not meet the budget, but this was compensated by growth in after-sales service departments. The added jobs and wage increases due to inflation and the increase in home costs did reduce profits, but overall the year was more successful and effective than feared.

Main financial ratios 2022 2021

Sales revenue (euros) 8,949,038 8,404,261

Turnover growth 6.48% 66.08%

Net profit (euros) 184,413 546,205

Profit growth -66.23% 6780%

Net profitability 2.06% 6.50%

Short-term obligations coverage ratio 2.87 3.22

ROA 6.30% 22.37%

ROE 11.91% 40.05%

Formulas used in calculating ratios: (cid:127) Turnover growth (%) = (sales revenue 2022 - sales revenue 2021)/ sales revenue 2021 * 100 (cid:127) Profit growth (%) = (net profit 2022 - net profit 2021)/ net profit 2021 * 100 (cid:127) Net profitability (%) = net profit/ sales revenue * 100 (cid:127) Short-term obligations coverage ratio (times) = current assets/short-term obligations (cid:127) ROA (%) = net profit/ total assets * 100 (cid:127) ROE (%) = net profit/ total equity * 100