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Activity report 2022

Antsla Consumers Cooperative (hereinafter the Cooperative), established in 1902, is one of the oldest retail companies operating on domestic capital and the oldest cooperative engaged in commerce. The main activity of the company is the sale of food and consumer goods.

The Cooperative is a profit cooperative and a member of the Coop Estonia Central Cooperative. The company's business is not seasonal and its activities do not have significant environmental and social impacts. The area of operation of the Cooperative is the Republic of Estonia, Võru County.

In 2022, the Cooperative ended with a loss of 396.4 thousand euros at a sales revenue of 9,545.3 thousand euros, of which 513.1 thousand euros is the Coop Bank share loss. Sales revenue increased by 7.1% or 632.1 thousand euros compared to 2021. The balance sheet total decreased by 594.2 thousand euros in 2022 and was 7,844.9 thousand euros at the end of the financial year. Equity accounted for 68.0% of the balance sheet total, amounting to 5,335.1 thousand euros.

During 2022, the employees of the Cooperative participated in several professional training courses, most of which took place in the Coop e-training environment. The main focus of the training programs was on improving customer service quality and increasing work and food safety competence and coping with new technological changes.

At the end of the financial year, the Cooperative had 7 stores, including 6 food and consumer goods stores (one store in Kuldre, Tsooru, Varstu and Mõniste, and two in Antsla) and 1 industrial goods store

Antsla Construction Center. The number of stores remained the same compared to the previous year.

At the end of the financial year, the Cooperative had 1360 members.

In 2022, the keywords of the economic environment were inflation, rising interest rates and

the full-scale war started by Russia against Ukraine. The war caused additional price pressure, especially in the energy carrier market, but also in other raw material markets. In addition, the war brought a large wave of war refugees to Estonia, including Antsla municipality.

According to Statistics Estonia, Estonia's economic growth fell by 1.3% in 2022. Private consumption also continued to fall (-1.9%), which is the weakest result since the first quarter of 2021. Household expenditures on education, other goods and services, and home furnishings fell the fastest. Significant declines were also shown in expenditures on food and healthcare.

Consumer prices rose by 19.4% in 2022, mainly due to rising energy prices, which were passed on to the prices of other goods and services, making inflation widespread. Food and non-alcoholic beverages accounted for nearly a quarter of the total increase.

The most expensive food products were flour and cereals, which increased by 53.6%, sugar (50.9%), other oils (49.5%) and eggs (45%).

Despite the increase in consumer incomes, real wages have decreased and people's purchasing power is still lower. Shopping behavior is much more price-sensitive, responding to sales discounts,