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's activity report 2022

The main activity of Miridon is the sale, installation and maintenance of water treatment equipment.

The company's clients are companies, local governments and individual small consumers.

In 2022, sales revenue was 5.2 million euros (in 2021, 3.8 million euros). The increase in sales revenue is largely due to rapid inflation and a significant increase in input costs. With Russia's invasion of Ukraine, the costs of both materials and energy carriers increased, but we were still able to make a profit for the year. In summary, 2022 had a significant impact.

on financial results due to global supply difficulties, rising labor costs and a significant increase in input costs.

The company has set a goal to be a promoter of innovative and environmentally friendly systems. In cooperation with the Estonian

University of Life Sciences, we started experimental and development work in 2022 to create a greywater reuse system. In the future, this system should increase the reuse of greywater in both private and commercial consumption.

We follow ISO standards in our company. We have prepared a guide for conducting an environmental aspects and impact assessment, which covers waste management, water use and emissions, and air pollution. For energy consumption and production, we have installed solar panels and use renewable energy.

The company will continue to participate in public procurements in 2023, both as a main contractor and as a subcontractor. It is difficult to predict the success of business activities due to the constantly changing and unstable situation both in Estonia and in the world. We have learned from previous crises and hope that strategic changes will give us a significant advantage and flexibility over our competitors.

Main financial ratios 2022 2021

Sales revenue (in euros) 5 257 351 3 805 644

Net profit (in euros) 494 502 266 492

Solvency ratio 3.20 3.64

Liquidity ratio 2.00 2.20

Debt ratio 0.38 0.32

Net sales profitability % 9.4 7.0

Total asset profitability % 23.0 15.76

Solvency ratio = current assets / short-term liabilities

Liquidity ratio = (current assets - inventories) / short-term liabilities

Debt ratio = liabilities / total assets

Net sales profitability % = annual profit / sales revenue *100

Total asset profitability % = annual profit / average asset value * 100