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's activity report 2022

General Information

The main activity of OÜ Eesti Killustik is the mining of construction minerals, the production and sale of filling materials. The consolidated sales revenue of the Group in 2022 was 10.7 million (13.6 million in 2021) euros and the Group sold a total of 1.77 million tons of various natural filling materials (crushed stone, gravel, sand, screenings).

The parent company sold crushed stone, other limestone products, sand and gravel quarry production and other services in the reporting year for a total of 9.9 million (11.9 million in 2021) euros.

Structure and Management

As of the reporting date, the following business units (name, share %) belong to the OÜ Eesti Killustik Group:

OÜ Eesti Killustik - parent company

OÜ Forek – 50.1%

OÜ Sagariste Põllud – 100%

During the reporting period, Eesti Killustik OÜ merged with its 100% subsidiaries OÜ Eesti Liiv, OÜ Anelema Karjäär and OÜ EK Rae. The merger balance sheet date was 01.09.2022, the merger was registered on 10.02.2023.

Business Activity

The Group's 2022 financial results were significantly affected by the decline in the volume of the infrastructure construction sector, which resulted in decreased demand for filling materials. The volume of state road repair and construction work decreased by more than a fifth compared to the previous period, mainly due to a sharp increase in construction prices, resulting from the effects of Russia's invasion of Ukraine. Risks related to the increase in input prices were constantly in focus in the management of Eesti Killustik. Thanks to operational action, it was possible to quickly adapt to the conditions and prevent a major negative impact on the company's financial results. Eesti Killustik OÜ continues to be a leading supplier of filling materials in the construction sector, mainly due to a wide network of quarries, high-quality production and competent employees.

In 2022, a total of 4.7 million euros was invested in the Group's business. In addition to renewing the machinery and equipment park, geological surveys have been continuously invested in and geological survey and mining rights have been acquired to ensure the sustainability of the company's business. In 2022, the portfolio of survey rights, conducted surveys and mining rights increased by a total of 1.2 million euros.

The most significant investment in the equipment park was a 1.2 million euro investment in a hybrid technology mobile crushing complex, which allows the production of filling materials efficiently and environmentally friendly by electricity.

For 2023, in addition to supplementing the equipment park, we have planned investments in the development and commissioning of solar parks in production units and we continue to invest in geological surveys and the acquisition of mining rights.

Personnel

Eesti Killustik employed over 50 people across Estonia in 2022. We take care of our employees, providing them with modern and safe working conditions and a good salary level. We also care about the health of our employees, providing all employees with additional health insurance provided by the company.

Environmental and Social Responsibility

Mining is a significant environmental impact activity in our main units, but the impact is regulated and mitigated by the conditions set out in the environmental permits issued to the company. Eesti Killustik OÜ, together with its subsidiaries, has established and continues to make provisions for a future-oriented financial reserve, from which the costs of quarry reclamation and possible emergency environmental damage are covered. The company contributes to raising environmental awareness. In 2022, we started assessing the company's ecological footprint, for which a climate specialist position will be created in the company in the spring of 2023. In addition, the company trains its senior managers on the sustainability (ESG) of the natural environment, society and company management practices, with the aim of mapping the company's impact on the environment and setting specific goals for reducing the carbon footprint.