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's activity report 2022

OÜ Talwest Group started its operations in the footwear retail sector on May 1, 2002 when the Salamander shoe store was opened at Viru 5 Tallinn, in 2019 the operations were also expanded to clothing retail.

In 2021, the company OÜ Baltic Retail (100% stake) was purchased from Tallink, which owns 8 clothing stores.

By the end of 2022, the group's companies had a total of 28 stores located in Tallinn Ülemiste, Rocca al Mare, Nautica, T1 and Viru centers and Viru,

Valli and Suur-Karja street and in Tartu Lõunakeskus. The stores operate under the following names: shoe stores Salamander, Step Top, ZB shoes, Högl, Lurchi, Tops and clothing stores Tops, Marc O'Polo, Esprit, Jack & Jones, Vero Moda, United Colors of Benetton and Superdry.

In 2022, the consolidated sales revenue was 15,407,148 euros, in 2021 the group's sales revenue was 11,640,657 euros.

In 2023, plans are to close the Salamander store in Nautica center, Tops on Valli street and Högl in Viru center. Also, the Salamander store in Viru center is being renovated

and will reopen in May. A Tops store will also open in Viru center in May.

The group's companies have not calculated or paid a fee to board members for being on the board during the reporting year.

During the reporting year, employees were paid a salary of 1,589,272 euros and the average number of employees during the reporting year was 108 employees, in 2021 the salary was 1,068,069 euros (102 employees).

The main financial ratios and their calculation methodology are presented below:

Net profit margin : Net profit / Sales revenue

Operating profit margin : Operating profit / Sales revenue

Return on equity per year : Net profit/ Average equity for the period

Short-term liabilities coverage ratio : Current assets / Short-term liabilities

Equity ratio : Equity / Total assets

Consolidated report 2022 2021

Net profit margin 2.4% 6.2%

Operating profit margin 1.1% 3.7%

Return on equity per year 4.9% 10.5%

Short-term liabilities coverage ratio 2.53 2.69

Equity ratio 68.7% 72.5%

Parent company 2022 2021

Net profit margin 4.1% 5.5%

Operating profit margin 2.6% 3.7%

Return on equity per year 6.9% 8.2%

Short-term liabilities coverage ratio 2.85 2.65

Equity ratio 74.2% 73.7%