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's activity report 2022

The main activity of AS D.T.L. Consumer Products Estonia is the wholesale of food and industrial goods and the representation of consumer goods brands in the region.

The overall economic results of the company for 2022 can be considered good. Export activity was also in a moderate growth trend last year.

Strong competition in the retail market has become increasingly sharp. The arrival of Lidl as a new significant player strongly affects the Estonian retail market. According to preliminary data from market research firm Nielsen, Lidl has taken about 6% of the market share in its first year. It is not yet clear whether the large increases in food prices will cause Lidl's arrival to make other retail chains reconsider their markups.

A major challenge has been the sharp increase in the prices of cereals, sunflower oil, sugar, potatoes and other raw materials on the world market last year, which caused strong price pressure from producers. It is not yet known whether and how this will affect the habits and preferences of the end consumer.

According to Statistics Estonia, compared to 2021, the sales revenue of retail companies increased by 2% in constant prices in 2022, but the sales revenue decreased by 3% in food stores.

After a couple of years of Covid pressure, the big war in Ukraine affected 2022 and affects the whole world and markets today. Considering several critical price increases and the resulting complex negotiations with retail chains, we rate the economic results of 2022 as good. We were able to achieve both turnover and profit targets and secured the market leader position with several brands. Sales and profit growth was mainly supported by effective sales and marketing activities and cost savings.

Among the new brands, we started cooperation with the sauce brand Flying Goose and also expanded the product portfolio of other Asian brands.

There were no significant research and development projects during the reporting period and there were no related expenditures. Research and development projects are not planned for the next few years.

During the reporting period, fixed assets were acquired for a total of 70,340 euros, which also includes the acquisition of a vehicle under capital lease terms and investments in updating warehouse inventory and warehouse software. In 2023, it is planned to continue investing in updating warehouse technology and developing warehouse software. We also focus on bringing new brands with sales potential to the Estonian market.

2023 will certainly be a difficult year in the world economy - the war in Ukraine continues and we may see fluctuations in demand due to large price increases in food products.

We do not foresee any significant further price increases for food products for 2023, but in the current hectic world, there may be many surprises. The Lidl store chain is likely to increase its market share at the expense of other retail chains.

The business activity of AS D.T.L. Consumer Products Estonia is not seasonal and the economic activity is not cyclical. The company's economic activity does not involve significant environmental and social impacts. During the financial year and also during the preparation of the report, no significant risks related to changes in exchange rates, interest rates and stock prices have emerged.

We have analyzed the impact of the war in Ukraine on the company's economic activity and found that it does not have a significant direct impact on the future business activity of D.T.L. Consumer Products Estonia AS and we have taken this impact into account when preparing the annual financial statements and the management report.

However, the war may still affect the prices of raw materials on the world market and thus also the final prices of food products

The planned sales revenue of AS D.T.L. Consumer Products Estonia for 2023 is 7,000,000 EUR and profit 300,000 EUR.