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Activity report 2022

Introduction

Sportland Eesti AS is part of the Sportland International Group AS group. Sportland Eesti AS started its operations in 2000 and operates as a chain of stores selling and marketing the world's best sports and leisure brands in Estonia. Sportland Eesti AS operates the following retail concepts: Sportland, Sportland Outlet, Timberland, adidas, Under Armour, SportsDirect.com. In addition, it offers

Sportland Eesti AS offers its customers the opportunity to make their purchases in the Sportland online store.

The mission of Sportland is: "To make young people's lives more interesting, better and more emotional through the products and services we offer".

The vision of Sportland is "To be the world's best seller and marketer of sports and leisure lifestyles".

The financial year of Sportland Eesti AS for 2022 is 01.05.2022-30.04.2023, the financial year for 2021 was 01.05.2021- 30.04.2022.

The figures in the annual financial report are presented in thousands of euros.

Significant events of the 2022 financial year

An increased number of visitors to the stores helped to increase the revenues of Sportland Eesti AS during the period 01.05.2022-30.04.2023. At the same time, both labor and energy costs increased significantly over the year.

According to the objectives for the period 01.05.2022-30.04.2023, the following major changes took place: ❑ opening of four stores; ❑ renovation of three stores; ❑ closing of one store; ❑ development of e-commerce.

In October 2022, Sportland Eesti AS acquired a 100% stake in the subsidiary UAB SDI (Gedimino) LT in the Republic of Lithuania.

The subsidiary's field of activity is real estate management. The transaction took place between related parties.

Seasonality of business

The sales revenue for the first half of the year accounted for approximately 53% and the sales revenue for the second half of the year 47% of the annual sales revenue.

Currency and interest rate risks

Sportland Eesti AS has no risks associated with changes in exchange rates, interest rates and stock prices.

Revenues, expenses and profit

The sales revenues of Sportland Eesti AS for the reporting period were 60,016 thousand euros, in 2021 53,901 thousand euros.

In the 2022 financial year, the company earned a gross profit of 24,897 thousand euros. In 2021, a gross profit of 23,697 thousand euros was earned.

Operating expenses in 2022 were 12,255 thousand euros. The operating expenses for 2021 were 9,652 thousand euros.

EBITDA at the end of the 2022 financial year was 5,300 thousand euros. The result for 2021 was 8,317 thousand euros.

The net profit of Sportland Eesti AS for the 2022 financial year amounted to 3,104 thousand euros. The year 2021 ended with a profit of 6,178 thousand euros.

Balance Sheet

The balance sheet total of Sportland Eesti AS as of 30.04.2023 was 28,069 thousand euros, increasing by 12.3% compared to the end of the previous financial year, the balance sheet total as of 30.04.2022 was 25,000 thousand euros.

Current assets decreased by 2,929 thousand euros, of which inventories decreased by 1,187 thousand euros. Short-term receivables and prepayments increased by 3,075 thousand euros.

Liabilities to suppliers decreased by 982 thousand euros, other liabilities and prepayments increased by 947 thousand euros.