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's activity report 2022

OÜ LX Motors was founded in May 2002. The past fiscal year marked the company's 19th year of operation. The company continued to sell and service Honda vehicles, which is the company's main activity.

The main areas of activity in 2022 were still the sale, rental, and repair of new and used vehicles, mainly Honda vehicles, and various products. In addition to vehicles, the sale and service of robotic lawnmowers under the Honda brand have been growing year by year, and we have developed different service packages for lawnmowers.

To characterize the seasonality or cyclical nature of our business, we believe that the seasonality of our company varies from year to year. The range of products added in 2012, Honda Power Equipment and Honda Marine, added seasonal variation to sales activity.

Based on the experience of the ninth sales year, we can state that sales of these products are still more active from April to August.

In 2022, OÜ LX Motors generated sales revenue of 3.2 million euros. Sales revenue consisted of 85.8% goods and 14.2% services.

99.4% of OÜ LX Motors' sales revenue in 2022 came from sales in Estonia and 0.6% from sales in European Union countries. The profit for the financial year was 25,980 euros.

Main financial ratios 2022 2021

Sales revenue (thousand euros) 3230 2497

Turnover growth(+), decrease(-) 29.3 -22.2

Operating profit margin (%) 3.2 3.4

Total assets (thousand euros) 1217 1102

Short-term liabilities coverage ratio 0.9 1.1 (times)

ROA (%) 2.13 0.36

Turnover growth (%) = (sales revenue 2022 – sales revenue 2021)/ sales revenue 2021*100

Operating profit margin (%) = operating profit/sales revenue * 100

Short-term liabilities coverage ratio (times) = current assets/short-term liabilities

ROA (%) = net profit/ total assets * 100

Equity restoration measures As of December 31, 2022, the company's equity is negative. The following changes are planned to bring the equity in line with the Commercial Code: (cid:127) We continue to look for opportunities to refinance existing loans with cheaper ones to reduce loan costs (cid:127) In January 2023, we raised the service price by 10% (cid:127) The product range is expanding, with the aim of increasing sales turnover to 3.6 million euros and achieving a net profit of 60,000 euros for the company in 2023 (cid:127) Through active Honda Insurance sales, we aim to achieve better results in after-sales service - with this product, the customer is guaranteed dealership repair for vehicles up to eight years old