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's activity report 2022

AS Ingle's activity is the handling of industrial chemicals. In 2022, AS Ingle's traditional business activities continued in Estonia and foreign markets.

In 2022, the company's main goal was to increase turnover more in the Estonian market than in neighboring markets.

Ingle AS's activity does not significantly depend on seasonality, the majority of chemicals sold are needed year-round. Only manufacturers of construction materials, cooling and windshield washer fluids consume raw materials more predominantly either in the spring and summer or in the winter.

Ingle AS continues to comply with all environmental and safety regulations and there were no such violations in the company in 2022.

The main goal for 2023 is to continue to increase and diversify market share in Estonia and neighboring countries.

In 2022, the construction of office and warehouse buildings in Muuga continued and in the summer of 2022, they moved to a new location.

The company's general operating environment in 2022 compared to 2021 has changed: the prices of goods (both purchase and sale) have increased, cooperation with many suppliers from Russia and Belarus has been terminated.

Due to its activities, the company has direct contacts with the Ukrainian, Russian and Belarusian markets, and the war that started on 24.02.2022 has directly affected our activities: several goods imported in 2022 are currently under EU-imposed sanctions.

The company's management constantly analyzes the situation and is looking for, and has also found, new alternatives

to replace goods originating from Russia. However, the management is confident in the sustainability of the company's operations.

The company's interest-bearing obligations are linked to Euribor. The rise in Euribor in 2023 will increase interest expenses, but in the management's opinion, this will not be significant for the company's 2023 financial results as a whole.

Revenues, expenses and profit in 2022. AS Ingle's sales revenue amounted to 26,016,028 euros.

Sales revenue consisted of 95.4% of goods sold, 3.2% of production sold and 1.4% of services sold.

79% of AS Ingle's sales revenue was sold in Estonia and 21% outside Estonia. AS Ingle's profit for the reporting year amounted to 2,910,774 euros.

Main financial ratios 2022 2021

Sales revenue 26,016,028 11,437,664

Turnover growth % 127.46 -2.26