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's activity report 2022

OÜ Starforest is a small Estonian private capital-based company engaged in the purchase of forest lands and forest management.

The main activity of OÜ Starforest in 2022 was forest management and the sale of forest material.

The crisis caused by the Covid-19 pandemic has indeed subsided in 2022, but the military invasion of Russia into Ukraine that began in the spring of 2022 has created new bottlenecks for the entire economy. Also, in 2022, there has been very high inflation throughout Europe, including Estonia, which reduces purchasing power and consequently also the economic downturn in the following years.

The turnover of OÜ Starforest in 2022 was 7,389,596 euros. Compared to 2021, the company's turnover increased by about 60%.

In 2022, 141 thousand euros were invested in tangible fixed assets (2021: 137 thousand euros). Also, biological assets (forest land with growing forest) were invested in the amount of 3.5 million euros (2021: 1.7 million euros).

It is planned to continue the current activity in 2023.

Key financial ratios 2022 2021

Business profitability (business profit / sales revenue) % 39 39

Net profitability (net profit / sales revenue) % 39 39

Equity net profitability (net profit / equity) % 35 32

Total capital net profitability (net profit / total assets) % 31 28