This company's branding has already reached 3,338 peopleand his is followed by 32 Storybook users.On average, the company has been rated 4.8 points.and commented 14 times.

Strategic decision: No desire to increase customer base
Board member Jaak Mullo (21.11.2024): "We focus only on providing high-quality service to existing customers and maintaining relationships. We do not plan to increase our customer base."

's activity report 2022

Mullo Transport AS is a 100% privately owned company, the main activity of which is road transport service. Mullo Transport AS started its operations in 1994. The board of Mullo Transport AS consists of 1 member and the council consists of 3 members. The average number of employees during the reporting year was 66.

Business activity in the reporting year and development directions in 2022, the sales revenue of Mullo Transport AS was 9.832 million euros (in 2021, 9.059 million euros). Sales revenue growth compared to 2021.

year is 8.5% or 773 thousand euros. The company sells transport services to the Baltic States and Scandinavia.

In 2022, the construction of storage facilities for improving and making transport service more efficient was completed in Mullo Transport AS.

Despite the ongoing spread of the coronavirus disease COVID 19 and the effects of the Russia-Ukraine war on the economy, the company was able to increase sales revenue in the past financial year. The company ended the 2022 financial year with a profit of 59.3 thousand euros (in 2021, the profit was 465.8 thousand euros). The significant drop in profit was caused by a sharp increase in fuel, ferry ticket and spare parts prices in the second quarter of 2022, which could not be fully quickly taken into account in customer prices due to previously concluded annual transport contracts. In March 2023, although the price of fuel fell, there was an economic downturn in the Baltic States and especially in Scandinavia, brought about by the rise in Euribor. This in turn reduces the volume of transport services and expected profit.

The goal of Mullo Transport AS for 2023 is to maintain sales revenue and cope with the economic downturn.

In 2023, a subsidiary Mullo Transport AB is being established. This provides more opportunities to stay competitive in the Scandinavian transport sector and to serve customers better.

We are developing opportunities for the transport of new types of goods with existing transport means.

Investments

The company invested 458.2 thousand euros in fixed assets in 2022, in addition, capital lease transactions were concluded in the amount of 291 thousand euros. As of the preparation of the financial statements in 2023, purchase-sale transactions are being concluded for the acquisition of transport means in the amount of 552 thousand euros to make road transport more optimal and environmentally friendly.

The investment and financing strategy for 2023 initially does not plan to take new loans. The goal is to invest from the company's own funds if possible, as interest rates are currently high.

The company is dealing with repayments according to the schedule of capital lease loans valid in 2023.

As of the date of the annual report, the company is in compliance with the terms of capital lease contracts.

Dividend policy In 2022, 100 thousand euros were announced for the payment of dividends, 78 thousand euros were paid out as dividends. In 2023, it is possible to pay out previously announced dividends, we are currently monitoring the economic situation.

In 2023, dividends of 50 thousand euros will be announced.

Significant events and macroeconomic development of the operating environment during the preparation period of the annual report

Energy, obligations and price fluctuations caused by the Ukraine-Russia war and the economic downturn pose difficult tasks for transport services in 2023: timely response to price fluctuations, maintaining sales volumes, while ensuring profitability.

The deepening economic downturn in Scandinavia and the Baltic States has had a domino effect on the activities of Mullo Transport AS. We are ready to act to ensure the continuity of the company. A subsidiary is being established in Sweden for better customer service and continuation of work.

Risk assessment

The company's management has assessed the risks associated with financial instruments, including the risks associated with changes in exchange rates and interest rates during the financial year and the reporting period, and found that they have a certain, if not significant, impact on operations in the near future.

Monitor contracts with clients concluded in Swedish kronor, their pricing policy. In the longer term, it is difficult to assess the further rise in interest rates and its impact.

Environmental and social impacts

There are no significant environmental and social impacts associated with the company's activities.