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's activity report 2022

The main activity of the company is the production and export of rubber products to our parent company

Freudenberg FST GmbH in Germany. The company's product range includes both o-rings and membranes, which are produced from both rubber compounds and silicones, mainly for the automotive industry.

The German automotive industry is a major and indispensable industry in developed countries and is one of the most important and highly valued industries in the future. Production in the German automotive industry is stable and the European Union (including Germany) plays a significant role in preserving the automotive industry through innovative activities, optimizing financial resources and applying certain skills, motivated and qualified workforce. The automotive industry is a strong link in the industrial production chain, a factor of competitiveness, growth and employment, and successful in exports thanks to its very strict technical requirements.

Freudenberg Sealing Technologies OÜ's production volumes increased in 2022. Investments in production have remained stable. The financial year ended with a profit for the shareholder. The receipt of orders largely depended on the general situation in the world market and fluctuations in demand. In 2022, turnover increased compared to the previous year. Sales increased by 12.9% in 2022 compared to 2021. The operating profit for 2022 was 693,101 euros (472,856 euros in 2021). A profit of 683,197 euros was made during the financial year.

The sales revenue for 2022 was 19,071,668 euros, which consisted of the sale of goods and services

to Germany. In 2021, sales revenue amounted to 16,894,859 euros. The war between Russia and Ukraine and the sanctions imposed against Russia did not significantly affect the company's operations.

The company's main partner is the parent company from which most of the consumed components and materials come, so a large part of the financial resources move within the group. All sales are in euros and therefore there is no currency risk. Intra-group invoices are paid regularly to hedge liquidity risk.

No product development and research expenditures were made during the financial year. However, the company has been conducting research to find possible energy and material saving opportunities. In the energy sector, the possibilities of using green energy are being considered. In material savings, production processes with better material efficiency are being introduced.

Freudenberg Sealing Technologies OÜ's production and product quality control and improvement has been taking place since 2004, taking into account the requirements of the international standard ISO 9001.

In 2019, OÜ Freudenberg Sealing Technologies was certified according to ISO 9001; ISO 14001 and

ISO 45001 standards.

Tangible fixed assets worth 118,740 euros were acquired during the financial year (worth 23,607 euros in 2021) and prepayments for fixed assets amounted to 142,838 euros (36,540 euros in 2021).

The company's goal is to maintain production at a level that would ensure the company's planned profit. To do this, cooperation with partners must continue - timely delivery of materials, spare parts, receipt of orders and timely delivery of goods by us, better creation of the working environment and internal work organization to increase production efficiency.

The average number of employees of Freudenberg Sealing Technologies OÜ in the financial year was 258 employees (288 employees in 2021).

The members of the company's board and council were calculated a membership fee of a total of 41,380 euros in the financial year and a social tax of 13,655 euros on it.

The sole owner of Freudenberg Sealing Technologies OÜ is Freudenberg FST GmbH.