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's activity report 2022

General information

AS Matek is engaged in the design, production and construction of wooden houses and structures. Matek's products are predominantly apartment buildings manufactured in the factory as room elements and two-dimensional facade elements pre-produced in the factory, which are used for both insulating old apartment buildings and in new constructions. Most of Matek's products are made according to our own product concept, which allows us to offer customers efficient and high-quality apartment solutions made of room elements in the factory, but to some extent we also offer room element and large element solutions based on the client's architectural vision. The company's management, sales, budgeting, design and project management are organized from Matek's Tallinn office. Production takes place in factories located in Pärnu and Vändra.

Factory-produced elements and modules are transported by trucks or ships to construction sites located in target markets, where then

Matek's assembly team erects the buildings. Matek's main markets are Sweden, Germany, Finland and Iceland, to a lesser extent the domestic market Estonia and

Latvia and Lithuania.

Business activity in 2022 was the year with the largest volume growth and also the largest sales revenue. The number of permanent and rental workers was increased and production was organized in shifts to implement the projects.

In Sweden, the company partially implemented the largest project in its history, a 550-module apartment building project based on Matek's own "Matek One" concept, the next project based on the same concept was signed and delivered, and other projects based on client architecture were implemented.

In Germany, the offering of hybrid construction apartment buildings continued and the following projects were implemented and the first renovation project to increase the energy efficiency of an old apartment building was also realized.

Through the Finnish subsidiary, 2 contracts were signed for the design, production and delivery of the largest wooden construction room element apartment buildings in Finnish history.

On the domestic market, the implementation of projects based on our own product solutions continued, participation in public procurements, a contract was signed for the design and construction of a kindergarten and several smaller projects were implemented.

A major challenge in 2022 was the availability of materials and their unpredictably high price, which did not allow to achieve the set profitability goals. The debts of the clients of the subsidiaries also posed major challenges in cash flow management.

Active product development and standardization of products and services were carried out.