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's activity report 2022

OÜ Vändra MP was established in 1992. The company's main activities are land improvement, forest drainage, to which water and sewerage pipeline construction, road repair, demolition work were added in 1996. Peat production was added on 01.05.2008.

The sales revenue in 2022 was 6166 thousand (4744 thousand in 2021), which increased by 1422 thousand euros. Operating expenses in 2022 were 5782 thousand euros (4833 thousand in 2021), which increased by 949 thousand euros. The main activities of sales revenue are construction site preparation, forest drainage, land improvement, earthworks 3306 thousand euros; water and sewerage pipeline construction 1025 thousand euros; peat production 705 thousand euros. The same main activities will continue in 2023.

In 2022, the company's net profit was 394 thousand euros. The main impact in 2022 was the global COVID-19 epidemic announced in 2019 and the closure of the country. Prices stabilized in 2022. In addition, the war in Ukraine also had an impact.

The balance sheet total decreased by 200 thousand euros as of 31.12.2022 and is a total of 3102 thousand euros.

The company's goal for 2023 is to restore the steady growth of production and the return on equity, and to respond quickly to market changes. According to the management, OÜ Vändra MP is still an operating economic entity.

In the reporting year, the company acquired fixed assets for 294 thousand euros.

The board consisted of three members in the reporting year.

Company's financial indicators:

Indicators (thousand euros) 2022 2021

Sales revenue 6 158 4 744

Operating profit (-loss) 414 -275

Net profit(-loss) 394 -300

Assets 3 102 2 902

Equity 1 841 1 457

ROA(net profit/assets) 12,7%

ROE (net profit/equity) 21,4%

Board member

Tiit Kangert