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Activity report 2022

AS HKScan Estonia is the largest meat processing and sales company in the Baltic States. The average number of employees in 2022 was 1,157 (1,150 in 2021).

HKScan Estonia is located and registered in Estonia, Lääne-Viru County, Rakvere Parish, Roodevälja village. The parent company of HKScan Estonia is HKScan Oyj, a company listed on the Helsinki Stock Exchange.

HKScan Estonia operates in Estonia through the Rakvere and Tabasalu factories and raises broiler chickens in various locations.

HKScan Estonia owns the company:

Participation Participation

Name: Location 31.12.2021 31.12.2022

AS Rakvere Farms Estonia 100% 100%

FINANCIAL RESULTS

Sales revenue in 2022 was 185,866 thousand euros, which is 29,421 thousand euros more than in 2021. The total sales volume in 2022, together with the accompanying production, amounted to 89,130 tons (in 2021, the sales volume together with the accompanying production was 89,663 tons).

RAW MATERIAL

In 2022, the slaughter line of AS HKScan Estonia Rakvere factory processed 315 thousand pigs (317 thousand pigs in 2021) and 8.1 thousand cattle (9.7 thousand cattle in 2021). The slaughter line of AS HKScan Estonia Tabasalu factory processed 14.1 million birds in 2022, in 2021 the slaughter line of Tabasalu factory processed 13.8 million birds.

The average purchase price per kilo of beef in 2022 was 55.3% higher compared to the 2021 average. The average purchase price of pork in 2022 was 23.8% higher compared to the 2021 average.

The average cost price of live weight of broiler chickens was 31.8% higher compared to the 2021 average.

INCOME STATEMENT (thousand 2022 2021 2020

EUR) 156 164

Net turnover 185 866 445 543

Operating profit -22 044 -5 906 -856 -12

Net profit -32 264 -2 616 351

BALANCE SHEET (thousand EUR)

Total current assets 44 002 33 792 28 266

Total fixed assets 72 968 83 546 80 910 117 109

Total assets 116 970 338 019

Equity 27 640 31 267 41 732

Equity ratio (%) 23.6% 26.6% 38.2%

GROWTH (%)

Turnover change 18.8% -4.9% 2.7%

Operating profit change -273.2% -590.0% -238.3%

Net profit change -161.2% -372.1% -667.5%

Assets change -0.3% 7.6% -4.2%