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's activity report 2022

Partnership Morobell has been engaged in sea fishing, fish processing and sales since 1997. The company's business is seasonal, i.e., the more active fishing and processing period is from October to the end of May, frozen fish sales take place all year round, the volume of which decreases during the summer period.

The 2022 fiscal year ended with good results, despite the fact that the war in Ukraine began in February, which led to a temporary halt in export markets, but sales volumes eventually recovered. There were temporary disruptions in delivering goods to customers and very long waiting times at borders.

However, the number of company's customers has been stable, there were no major fluctuations in 2022 due to the war. Due to two major events in the world in recent years, inflation also grew very quickly, which affected the company's operations and decisions. Participation in various support projects helped to reduce the negative impact of crises.

Taking into account environmental impacts, a large-scale investment was made in a 150kW solar park during the fiscal year, 99% of the electricity produced from it goes into production, the use of renewable energy is planned to be increased also next year, as the company's cold complex is large.

In addition, a decision was made to renew the fleet of forklifts needed for production, which are also more environmentally friendly and economical. No investments have been made in research and development.

In 2022, the Morobell OÜ group was joined by a 100% subsidiary in Lithuania, Spika UAB, in addition, Prekibos namai “Aistra”UAB and Stekutis UAB merged, from October 2022 the active company remained Stekutis UAB. The group also includes Ramsun UAB operating in Lithuania and Shedfish OY in Finland. Acquired shares of subsidiaries in more detail in appendix 6.

All subsidiaries of the Morobell OÜ group are engaged in sea fishing and as a result, the business is also seasonal from October to the end of May/June. Subsidiaries will continue their main activities in 2023.

The average number of employees was 112. There were no major changes in personnel. No fees were paid for being a board member and no compensation is provided for termination of the contract.

The company's currency risk is marginal, sales are in euros. The interest risk can be considered low, a possible increase in interest rates does not have a significant impact on the company's cash flow and profit.

Consolidated net turnover increased compared to 2021 and it was 15 046 1734 euros.

Export volume was 3 965 491 euros, of which sales to European Union countries amounted to 1 843 697 euros.

In 2023, the partnership Morobell will continue its main activities, the goal is to maintain its good position in the markets, increase sales and continue cooperation with long-term customers. The ongoing war in Ukraine may affect the entire group's operations. Investments in research and development are not planned, but investments started in 2022 will be completed