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's activity report 2022

General information

AS Elektritsentrum has been operating since 1996, providing customers with services in the field of electrical construction. The quality of the electrical installations being built is ensured by a management system that meets ISO9001 requirements and the precise and fast work of experienced project managers. Wherever you see Elektritsentrum's blue logo machines, you will find the best specialists in their field at work. Quality development is a continuous process in which all employees play a central role.

Environmental impact

AS Elektritsentrum has also been awarded the ISO14001 environmental management certificate.

Electrical construction work does not have a significant environmental impact, but in accordance with the company's environmental policy, constant attention is paid to saving the surrounding environment through monitoring the environmental impacts of the company's main activity (construction of electrical installations).

Measures for this include identifying and complying with the environmental requirements applicable to the organization by local governments, informing all staff about the company's environmental policy, partners' environmental initiatives and requirements arising from legislative acts affecting the environment, gradually replacing materials, mechanisms and technology with more perfect and environmentally friendly ones, handling emerging waste in a way that is safe for the environment and people, preventing environmental pollution, readiness to eliminate possible accidents and raising staff's environmental awareness through relevant training.

AS Elektritsentrum has been awarded the OHSAS 18001 occupational health and safety certificate.

Economic activity

The main activity of AS Elektritsentrum is electrical installation work (cable and overhead lines), substation assembly, cabling and design. We carry out electrical construction work all over the republic and permanent divisions have been formed in Tartu, Viimsi and Kilingi-Nõmme.

2022 proved to both the public and us that companies that can make the right decisions based on market changes and ensure the company's sustainable development can survive in a rapidly changing world. AS Elektritsentrum's sales revenue for 2022 was 11.9 million euros, an increase of 18% compared to 2021.

The mood in the Estonian construction sector has deteriorated even further compared to last year - there are companies leaving the construction market and those who have a "work hunger". In the overall declining trend of the construction market, the company has no reason to hope to maintain the same sales revenue in 2023. Practically all contractual work is obtained on the condition of the lowest bid (read: lowest price), so their profit margin is small.

Considering the continued high demands from customers for guarantees and long payment terms, the burden on the company's working capital is large and the ability to manage cash flows is important for survival in competition. As a result, we maintain a stable equity base. In the opinion of the management, the current capital structure: the amount of equity 67.3% of the balance sheet volume ensures the reliability of the company in a changing economic climate for creditors.

Investments In 2022, transport equipment was acquired as tangible fixed assets for 305 thousand euros. Investments were financed from own funds. In 2023, it is planned to make investments for 250 thousand euros.

Management and personnel

No management fee was paid for the activity as a member of the board and supervisory board. In case of resignation or recall of members of the supervisory board and management board, the company does not incur a larger obligation to pay compensation than provided by law. No benefits were made to the members of the supervisory board and management board in 2022.

The average number of employees in 2022 was 100 and the total labor costs for them were 2.8 million euros.

Financial indicators

Profitability ratios 2022 2021 Explanation

Operating margin 1.11% 7.16% operating profit/sales*100 current assets/short-term

Payment ability ratio 2.29 2.20 liabilities

ROE 4.45% 28.82% profit/equity*100

Net profitability 0.90% 6.97% profit/sales*100 liabilities

Debt ratio 0.48 0.50 total/equity

Vision for development

Taking into account the pessimistic forecasts of the business and financial environment for the coming years, the main goal of Elektritsentrum is still