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's activity report 2022

The main activity of Profile Vehicles Baltic OÜ is the conversion of motor vehicles. In addition to us, production also takes place in Hungary among the subsidiaries of the Profile Group. Most of our production goes for export, mainly to Scandinavian countries, especially Finland, and also to other countries. Asia and Africa have been added.

Our main products have so far been ambulance and police special vehicles. Ambulances are mainly built on Mercedes-Benz, Volkswagen and Ford Transit models. In addition, police vehicles based on VW Transporter were produced for the Estonian market last year. Also, a large part of our production consists of subcontracting - i.e., component manufacturing for the parent company.

In 2022, there was a decline in turnover, due to a decrease in domestic sales, an increase in the volume of component manufacturing, and a decrease in the sale of base vehicles. Also with larger batches to both Sweden and Finland. The Estonian sale in terms of conversion was - 25 vehicles. In total, we delivered - 51 vehicles.

The loss for the year was -42,454 euros.

In 2022, we invested in the construction of the PROGREZ brand based on VW Crafter. In cooperation with our parent company, a completely new solution was made in terms of interior details and the CanBus electrical system was also updated. This product has also been the most built version in our company in 2022.

In the „Protection“ product group, where we increase the security class of vehicles by installing ballistic protection materials, we continued to develop and expand the field. We have already manufactured this product and can continue to offer it to both the domestic market and all foreign markets.

Due to the further increase in the share of all component manufacturing, we have increased the stock of goods in stock and we have also increased the warehouse space both indoors and outdoors. We also increased the storage space for finished goods and for better storage of goods, we also acquired a second cold storage (200 m2). We have reviewed the list of subcontractors and found alternative goods suppliers in strategic product groups (such as ABS details).

In cooperation with the parent company, we developed our new anniversary product based on MB Sprinter - „Profile Savior“ In 2023, we will continue to produce ambulances and police vehicles. The main goal for 2023 is the full implementation of the new warehouse program. This is primarily for better coordination and efficiency of production / warehouse management and through this profit growth. The share of component manufacturing must constantly grow for both the parent company and our factory in Hungary.

The members of the board were paid a gross amount of 67,700 euros during the reporting year. No significant benefits have been given to the members of the board, nor are there any potential obligations related to the members of the board.

The average number of employees during the financial year was 34 people and they were paid a gross salary of 704,398 euros, including a board member's fee of 67,700 euros.

Main ratios for the financial year and the previous financial year: 2022 2021

Turnover growth -11% 15%

Profit growth -131% 71%