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's activity report 2022

Introduction

AS Evelekt (hereinafter also the „company”) main activity is the retail and wholesale of furniture and interior goods. The main sales articles are home and garden furniture, chairs, bar stools, swings and a wide range of interior goods.

AS Evelekt has established a chain of furniture and interior goods stores, which is recognizable by customers for its uniqueness and which is associated with everything related to furnishing (i.e. from furniture to flower vases, home textiles and other decorative elements) and where the customer can get ideas for home design in addition to shopping. Since 2008, all company stores have been named „Home4you”.

In the autumn of 2017, AS Evelekt established a 100% Latvian subsidiary H4Y Interior SIA, which is engaged in retail in Riga.

In 2022, the "Home4you" chain included 9 stores located in Tallinn, Rakvere, Jõhvi, Narva, Pärnu, Tartu and Riga.

In addition to retail in specialized stores, the company also develops online sales, owning an online store www.home4you.ee.

The company's peak sales season is spring and the first half of summer due to our wide range of garden furniture and sales also increase in the last months of the year when Christmas products are sold.

The majority of the goods sold by AS Evelekt are purchased from Asia. The company handles the import of goods itself.

The procurement process for goods is approximately 4-5 months.

The global surge in container shipping prices that began in 2021 continued in early 2022.

Only at the end of 2022 did container shipping prices start to fall, paying on average 65% less than at the beginning of 2022, but still higher than pre-pandemic prices.

Transactions with foreign suppliers are mainly in US dollars. The company made a profit of nearly 112 thousand euros from the change in the exchange rate as other business income in 2022.

The outbreak of war in Ukraine on February 24, 2022 and the sanctions imposed on Russia and Belarus directly affected the export of goods..

The company's exports decreased by 480 thousand euros, which accounts for about 30% of the total decrease in the company's sales revenue.

The energy crisis and rapid inflation in 2022 also had a strong impact on economic growth, as well as a decrease in both domestic and foreign demand. The company's sales revenue decreased by 1.7 million euros or 11% in 2022.

At the same time, the company's costs for electricity increased by 77 thousand euros or 79%, costs for heat energy by 39 thousand euros or 50% and costs for motor fuel by 22 thousand euros or 42%.

The energy crisis has not completely disappeared in 2023, but it has eased by now.

The environmental impacts associated with the company's activities mainly result from the fact that most of the goods are produced in China and the transportation of goods from there to Estonia.

In the opinion of the management, the company's activities do not have significant social impacts.

Revenues, expenses and profit

AS Evelekt's consolidated sales revenue in 2022 was 14.9 million euros, decreasing by 1.7 million euros or 11% over the year.

The consolidated sales revenue for 2021 was 16.6 million euros.

The biggest drop in turnover last year was in wholesale, decreasing by 2 million euros over the year.

AS Evelekt's consolidated balance sheet total as of 31.12.2022 was 13.1 million euros, which is 246 thousand euros more compared to the previous year.

Main financial ratios 2022 2021

Sales revenue (thousand euros) 14 870 16 621

Revenue growth / decrease -11% 29%

Operating profit % 2.8% 14%

Net profit/loss (thousand euros) 267 2 266