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's activity report 2022

ACTIVITY REPORT

OÜ RF Group is a company engaged in Estonian fisheries. The main activities in 2022 were the purchase of smelt from both individuals and companies engaged in fishing, and the marketing of purchased fish both in Estonia and abroad.

Also of significant importance were the production and marketing of red caviar and the purchase and marketing of cuttlefish ink.

In 2022, preparations were started for the production and marketing of various products of red fish (trout-salmon).

In 2022, investments in the production and marketing of red caviar were increased

RF Group does not have direct foreign participations.

INVESTMENTS 2022. The necessary new production premises were built in the production building and the necessary equipment was acquired for processing different fish and introducing new product groups in 2023.

Negotiations were started with various manufacturers to acquire a red fish production line, with the aim of starting production in 2023, which would allow the company to increase the product range in existing and new markets.

Transportation means were acquired for the transportation of raw materials and finished products to customers.

GENERAL DEVELOPMENT OF THE OPERATING ENVIRONMENT AND ITS IMPACT

In the fisheries sector, significant decisions are expected from the EU Fisheries Commission in 2023 regarding the reduction of fishing quotas in the Baltic Sea region. This will negatively affect the volumes of smelt caught and the prices of raw materials in the coming years.

The increase in Euribor introduced by the European Central Bank to curb inflation will negatively affect loan money prices and significantly increase the cost of equipment to be purchased.

BUSINESS SEASONALITY

OÜ RF Group is significantly affected by seasonality. The procurement of raw materials mainly takes place in spring and autumn. Some product groups are exceptionally procured also in winter and summer.

The main sales periods are summer and winter.

OÜ RF Group's activities do not involve significant environmental or social impacts.