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's activity report 2022

OÜ Saaremaa DeliFood's main activity is the production and sale of dairy products. Curd snacks, yogurts, sour cream, cream cheese are produced for the retail network.

For large kitchens, cottage cheese, cream cheese, unflavored yogurt and sour cream are offered.

The company has been awarded the BRC grade AA+ food safety management system certificate and the organic product manufacturing recognition.

Key events in 2022

Like all companies whose activities depend on input prices, the past year was also difficult for Saaremaa DeliFood. The prices of raw materials have now risen for two years in a row. Energy carriers largely raised prices, causing all goods and services to become more expensive.

Since 2021, the price of raw milk and cream has also increased. Companies were forced to pass on the price of inputs in the final product, while the prices of raw materials have grown significantly faster than the prices of products have risen.

Despite the difficulties, Saaremaa DeliFood maintained a considerable market share in all Estonian retail chains. The export of products increased (about 50% in 2022, 42% in 2021). Active product development continued in all product segments. Participation in foreign fairs was used to find new customers.

Due to the difficult economic situation, the company was unable to make a profit during the reporting year. The solution to the situation is cost savings and more economical management.

OÜ Saaremaa DeliFood's activities do not have significant environmental or social impacts. There is no seasonality or cyclicality in the company's business activities. During the financial year or the reporting period, no risks related to exchange rates have emerged.

Financial results

The company's sales revenue was nearly 6.4 million euros, which is about 7% higher than last year's sales of 6 million euros. Gross profit was 685.2 thousand euros (901.7 thousand euros in 2021). Gross profitability decreased by about 4% compared to 2021 (gross profitability was 10.8% in 2022, 15.1% in 2021).

Financial indicators 2022 2021

Sales revenue 6 370 846 5 954 914

Turnover change 7.0% 3.1%

Gross profit 685 159 901 720

Gross profitability 10.75% 15.14%

EBIDTA -173 003 78 207

EBIDTA margin -2.7% 1.3%

Operating profit (-loss) -341 067 294 746

Net profit (-loss) -392 887 226 214

Net profitability -6.2% 3.8%

Equity ratio 46.5% 57.9%

Return on assets (ROA) -7.0% 4.6%

Solvency ratio 0.767 0.969

Average number of employees 41 40

Formulas for indicators and ratios

Turnover change = (sales revenue - previous period sales revenue) / previous period sales revenue*100

Gross profit = sales revenue - sold goods and used materials