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's activity report 2022

COMPANY ACTIVITY

AS Onninen is engaged in the wholesale of electrical, heating, water, ventilation, cooling and industrial supplies. The main customer groups are construction companies, infrastructure and industrial companies, and resellers.

In 2022, AS Onninen's turnover was 72,502.3 thousand euros (in 2021, 52,884.4 thousand euros), which is 37.1% more than in 2021. The company's net profit for the financial period was 5,082.3 thousand euros (in 2021, 3,018.9 thousand euros). AS Onninen's area of operation was the Republic of Estonia.

In 2022, the sale of heating-water-ventilation products accounted for 68% of total turnover (2021 - 71%) and the sale of electrical products 32% (2021 - 29%).

The improvement in profitability was influenced by a significant increase in demand in the energy sector due to the sharp increase in energy prices. However, challenges arose due to the very rapid rise in the price level of goods in the spring-summer period and the length of delivery times due to the war that started in Ukraine. The decline in economic activity in Estonia caused by the war may have a negative impact on the construction sector in 2023.

No major investments were made in 2022 and no extraordinary events occurred in the organization.

AS Onninen has been part of the Kesko Group since 01.06.2016.

AS Onninen's operations do not have significant environmental and social impacts.

There are no currency risks associated with the operations, as the majority of transactions with partners are in euros.

The company uses a group account to ensure liquidity.

Credit risk management is carried out in accordance with AS Onninen's internal procedure. Credit risks have not significantly increased during the financial year or during the preparation of the report.

AS Onninen's operations are affected by seasonality, so the first half of the year is a quieter period compared to the second half.

STAFF AND WAGES

During the financial year, the company employed an average of 159 employees.

The total wage cost accounted for by the company during the financial year was 5,011 thousand euros (in 2021, 4,198 thousand euros).

COMPANY MANAGEMENT

AS Onninen has a three-member board consisting of: Peeter Matt, Agnes Igalaan, Kuuno Kirspuu.

The AS Onninen council operated in the composition: Martti Forss, Mia Kaitaharju, Anu Myyryläinen.

Peeter Matt served as the company's CEO during the period (also in 2021).

FUTURE PLANS The main goals for 2023 are to expand the product range, increase sales competence, and develop a strategy for 2024 - 2027.