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's activity report 2022

The main activities of Talent Plastics Tallinn AS continue to be the production of plastic parts and the assembly of various products.

The largest customers operate in the automotive, electronics, medical technology and other industrial sectors.

2022 was a very challenging year for Talent Plastics Tallinn AS. Demand was generally high, but there were significant differences among customer groups. The automotive industry stood out with strong demand. There was a continued deficit in some raw materials and components and a continued rise in prices. Rapidly rising energy prices and high inflation had a negative impact on the company's financial results. The aggression initiated by Russia in Ukraine dramatically increased the risks and unpredictability of the global business environment.

The sales revenue for 2022 was 8,564 thousand euros, a decrease of 3.5% compared to 2021, and the net profit was 62.4 thousand euros.

Due to the difficult political and economic situation, several customers have postponed new development projects, and as a result, the sales volume of injection molds and projects decreased by 20% compared to 2021 to 400.8 thousand euros.

Considering the very difficult political and economic climate, the company's performance can be considered good.

In 2022, the company invested 463.2 thousand euros in new equipment. The main focus of the investment was on equipment necessary for the implementation of new projects, improving productivity and energy efficiency. Three new plastic injection molding presses were purchased, two of which are fully electric and the third uses hybrid technology. The new injection molding presses are up to 40% more energy efficient compared to the older generation presses. The replacement of lighting in production rooms with more energy-efficient LED lamps was completed. Several projects were launched to reduce the consumption of gas used for heating the company's premises. The waste heat generated by the cooling of plastic molding and compressed air compressor was utilized for heating storage and production rooms. In 2022, the company's business software was updated. Internal processes were developed and employees were trained.

Periodic audits of the quality system were successfully completed in accordance with IATF 16949:2016, ISO 9001:2015 and ISO 14001:2015 requirements.

Due to the continuation of Russian aggression in Ukraine, high energy prices and high inflation, we expect a very difficult situation to continue in the 2023 financial year and a slight decrease in sales volume compared to 2022.

year.

Investments planned for 2023 are aimed at updating the company's production equipment with a focus on improving efficiency and energy efficiency. We take into account the changing situation in the implementation of investments.

The average number of employees during the reporting year was 103. The total salary of all employees, including social tax, was 2,353.9 thousand euros. The board member was paid a salary of 117.8 thousand euros during the reporting year. No payments were made to the members of the council.

2 022 2 021

Return on equity ( % ) 1.8 % 11.5 %

Return on assets ( % ) 1.3 % 8.2 %

Return on sales ( % ) 0.7 % 4.3 %

Short-term debt coverage ratio 3.4 3.4

Solvency ratio 1.7 1.6

Methodology for calculating financial ratios:

Return on equity ( % ) = net profit / average equity * 100 %

Return on assets ( % ) = net profit / average assets * 100 %

Return on sales ( % ) = net profit / sales revenue * 100 %

Coverage ratio of short-term obligations = current assets / short-term obligations

Solvency ratio = ( current assets – inventories ) / short-term obligations