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's activity report 2022

AS Antista is a 100% privately owned joint-stock company, which has been operating since 1998. The board of the joint-stock company consists of one member, the council consists of three members. The main activity of the company is the retail trade of household appliances and electronics.

In 2022, AS Antista consisted of 14 retail stores operating under the Euronics brand all over Estonia, an E-store, Business Customer Service, and units for providing support services to customers. The company employed over 270 employees in 2022.

In 2022, the information technology changes that started in 2021 were continued. An ordering environment intended for business customers was introduced. In total, investments in the company's fixed assets amounted to 500 thousand euros in 2022. Investments of the same magnitude are planned for 2023.

The field of activity of AS Antista is retail trade. The development of retail trade is closely related to general economic growth and environment.

According to Statistics Estonia, Estonia's gross domestic product fell by 1.3% in 2022. The year is characterized by a general economic slowdown. This is strongly reflected in the second half of the year, where the economic downturn exceeds the growth of the first half of the year. Private consumption fell into decline during 2022. In the fourth quarter of 2022, it was -1.9%, which is the weakest result since the first quarter of 2021. Household expenditures on goods, including home goods, fell the fastest. Consumer confidence in Estonia was low in the second half of 2022. According to the Bank of Estonia, the third quarter of 2021 saw a payout of more than one billion euros from the second pillar of the pension, which allowed customers to spend more. This set a high benchmark, which was difficult for consumers to exceed and also affected the characteristic feature of retail seasonality - the usual increase in turnover in the fourth quarter. Antista AS's turnover for the fourth quarter of 2022 did not exceed its comparison period.

A rapid price increase began at the end of 2021, driven by energy carriers. The price increase continued at the beginning of 2022. The price increase was supported by the conflict between Russia and Ukraine that began in February, the impact of which on the world, including Estonia, is just beginning to emerge. The impact of energy prices, the increase in food prices, the increase in service prices - all this leads to an increase in compulsory expenditures, which in turn may change consumer consumption patterns. Against the background of such external developments, the company wants to maintain the same turnover and profit level for 2023 as it was in 2022.

The company has no significant financial risks.

Main financial ratios: 2022 2021

Operating profitability 1.36% 2.19%

Net profitability 0.75% 2.54%

Equity ratio 19.09% 35.49%

ROA (return on assets) 7.3% 11.41%

ROE (return on equity) 26.36% 37.46%

Inventory turnover 9.16 10.07

Formulas used in calculating ratios: (cid:127) Operating profitability(%) = operating profit/sales revenue*100 (cid:127) Net profitability(%) = annual profit/sales revenue*100 (cid:127) Equity ratio = equity/total liabilities and equity *100 (cid:127) ROA(%) = operating profit/average asset volume*100 (cid:127) ROE(%) = operating profit/average equity*100 (cid:127) Inventory turnover = cost of goods sold/average inventory.

The average indicator is found as the average of the reporting period and the comparable period.