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's activity report 2022

The areas of activity for AS Balsnack I.H. in 2022 were:

Production and marketing of potato, bread and corn chips.

Production, packaging and marketing of breakfasts from various whole grain flours.

Production and marketing of bird food mixtures and grain-fat balls for winter birds.

Packaging of food as a packaging service.

In 2022, the sales revenue was 8,328,206 euros (in 2021, 7,722,648 euros), which is 605,557 euros more and gives a growth rate of 7.8% (last year 18.1%). Total profit 74,988 euros (last year 133,371 euros).

The COVID-19 pandemic that affected the whole world gave way and international fairs resumed, which are our main places where we find new export customers.

Due to the increase in raw material prices, we lost a significant customer in popcorn sales. The sale of potato waffles continued steadily, the largest markets being Japan, Taiwan, Saudi Arabia, Ukraine.

In the Estonian market, we have gained increasing trust and continued cooperation with Fitlap, which promotes healthy eating. The most popular products in healthy eating are Kamapallid,

Four-grain chips and Naked popcorn.

Of the total sales revenue, the sale of own production in Estonia accounted for 54.02%, exports to European Union countries 21.78% and exports outside the European Union 24.20%.

Just like in 2021, the increase in raw material prices continued in 2022, which significantly affected our profit number. Last year we started implementing price increases for our products in Estonian retail chains, but the process is very time-consuming. By the end of the year, not all retail chains had accepted the price increase. Price increases will continue in 2023.

Grants applied for from PRIA made it possible to purchase new equipment, but due to the pandemic, the setup has been complicated and time-consuming. The frying line and fat melting complex have been completed. Work continues on setting up the extruder, galet machine and third waffle line.

In 2022, the creation of the FSSC 22000 food safety standard system, which was started a year earlier, was completed. On 16.06.2022, Bureau Veritas issued Balsnack IH AS the "Food Safety System certification 22000 FSSC 22000."

The interest rates on loans taken by the company are linked to the change in EURIBOR, so the increase in interest rates has been constant.

For the purpose of valorizing domestic grain, Balsnack International Holding AS continues to cooperate with the Food and Fermentation Technology Development Center AS to supplement and enrich the nomenclature of healthy breakfasts.