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's activity report 2022

OÜ Säästke started its economic activity in 2001. At the end of 2021, the company's name was changed to Jabs Jõesuu OÜ.

The main activity of the company is the production of solid wood windows and doors in the production complex located in Jõesuu village in Pärnu County and the export of finished products to Scandinavia.

The company has subsidiaries JABS Denmark A/S in Denmark and JABS Group Sweden AB in Sweden.

Main ratios: 2022 2021

Sales revenue, EUR 16 570 348 18 159 853

Net profit, EUR 5 426 069 13 497 421

Assets, EUR 16 858 133 15 552 146

Short-term debt coverage ratio (current assets/short-term liabilities) 6 7

Equity (EUR) 14 804 250 13 722 081

ROA (net profit/assets) % 32,2% 86,8%

ROE (net profit/equity) % 36,7% 98,4% 2022 was a successful year for the company. The company continued production and sales and maintained old markets despite sharp competition.

The average number of employees during the reporting year was 194 (2021: 217) and labor costs amounted to a total of 4.6 million euros (2021: 4.9 million euros).

In 2021, 2.6 million euros were invested in new production equipment, which reduced manual work in 2022 and consequently the number of employees decreased in 2022. The company also continuously invests in the development and sustainability of its employees.

No major investments are planned for 2023.

The general macroeconomic development of the operating environment has not had a significant impact on the company's financial results. The company has adjusted its cost base to adapt to the situation and expects a stable 2023 compared to 2022, which was mainly influenced by the introduction of new machines and changes in the production platform. The turnover decreased mainly due to problems arising from downtime in changing machinery room equipment. The company's main activity is not seasonal or cyclical.

Environmental conservation is monitored in daily work and possible threats to the environment are monitored.

Changes in exchange rates during the reporting period have not affected the company's operations.

The company will continue its operations also in 2023. The company's goal is to maintain or slightly increase the volume of operations in the new 2023 reporting year.