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's activity report 2022

AS Express Post is a logistics and service company that deals with early morning delivery of newspapers, management of subscriber databases, acceptance and mediation of newspaper subscriptions. In addition, the company offers simple letter delivery, courier service, blind posting and direct mail pre-processing, and home delivery.

Revenue in 2022 increased by 1.0% compared to 2021 (in 2021, the company's revenue increased by 10.9% compared to 2020). Including home delivery revenue increased by 0.8% (in 2021, it increased by 5.3% compared to 2020), subscription center revenue increased by 3.2% (in 2021, it decreased by 1.8% compared to 2020), advertising and letter revenue increased by 0.9% (in 2021, it increased by 32.8% compared to 2020).

The volumes of periodical home delivery in 2022 decreased by 8.2% compared to 2021 (in 2021, it decreased by 6.4% compared to 2020). The decrease is influenced by the decrease in paper publication subscriptions, the thinning of publication schedules, the growth and development of digital subscriptions. The number of subscriptions is also decreasing due to the energy crisis, security crisis, health crisis, and general inflation and price increases.

Advertising volumes decreased by 4.2% in 2022 compared to 2021 (in 2021, it increased by 30.5% compared to 2020), which was influenced by the competitive situation, inflation and price increases, as well as the energy crisis, health crisis and security crisis.

Letter volumes increased by 7.3% (in 2021, it increased by 25.2% compared to 2020) due to the addition of new customers and the realization of new agreements.

Investments in 2022, no investments were made in fixed assets.

Employees

In 2022, the company employed an average of 496 employees, including 460 newspaper carriers (in 2021, an average of 487 employees, including 440 newspaper carriers). The total wage bill for 2022 was 4,385 thousand euros, including social tax 1,128 thousand euros (in 2021, the wage bill was 3,873 thousand euros, including social tax 986 thousand euros).

The company's board consists of 4 members. In 2022, there was one member on the board and the total remuneration of the board member was 106 thousand euros, including social tax 26 thousand euros (in 2021, the total remuneration of the board member was 99 thousand euros, including social tax 25 thousand euros). No remuneration was paid to the members of the council.

General information In 2022, processes that had already started in the previous year took place, the aim of which was to optimize the company's activities, develop software and automate and optimize processes. Due to the Covid-19 crisis in 2020, the labor crisis among newspaper carriers, which had been resolved, came back on the agenda in the second half of 2021 and intensified at the beginning of 2022. One of the company's important and priority activities was to invest in recruiting new employees and retaining existing ones. The quality of the service and its improvement can only take place through those employees who perform the last part of the service, i.e. home delivery. The lack of labor has a direct impact on the quality of the service, which is dealt with on a daily basis. The labor situation was constantly changing throughout the year with its ups and downs.

Every year, the circulation of periodical publications decreases, which is due to changes in the market and trends towards digital solutions. The decrease in delivery volumes also affects the company's turnover. At the beginning of 2022, the prices of additional home delivery services were raised and a price increase for home delivery service was carried out for all delivery customers and all publications according to their publication frequencies and weight ranges at the beginning of the second quarter. During the year, work processes were optimized and automated and work tools were developed. Every year, the principles of fair remuneration for employees are reviewed from both the employees' and the company's perspective. On 01.01.2022, a pay rise was made for all company employees, where the average pay rise was 8%.

AS Ekspress Grupp and AS Postimees Grupp signed a contract with AS Eesti Post on March 2, 2022, according to which AS Eesti Post, operating under the Omniva brand, was to buy a 100% stake in AS Express Post. The aim of the transaction was to find a more sustainable economic model for newspaper and magazine home delivery. The Competition Authority had to approve the purchase-sale transaction before it could take effect, and it had five months to form an opinion. The Competition Authority extended the deadline and the decision was made only in October 2022. The Competition Authority banned Omniva and Express Post