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's activity report 2022

Introduction

Moller Auto Pärnu OÜ's main activities are retail sales, maintenance, warranty service and used car sales of Volkswagen AG and Škoda vehicles.

Following Russia's invasion of Ukraine in February 2022, the situation in Ukraine has affected car production, as the Volkswagen Group (hereinafter: the factory) had subcontractors in the country who were under attack. This primarily concerns the wiring and high-voltage cables of several electric car models produced in Ukraine, which have caused delays in production. Disruptions in global supply chains have led to a significant increase in prices, energy shortages and inflation. The company's management quickly adapted to the changes, constantly reviewing the pricing strategy, renegotiating supplier contracts, and thus ensuring stable growth compared to the previous year.

The company has implemented all necessary routines to comply with established sanctions.

Moller Auto Pärnu OÜ's revenues, expenses and profit in 2022 and 2021

Compared to the previous 2022 2021 year

New cars sold (pcs) 394 346 13.9% (2021: 3.0%)

Sales revenue (thousands of euros) 19 336 17 243 12.1% (2021: 23.2%) including new car sales revenue (thousands of euros) 10 913 8 961 21.8% (2021: 14.4%)

Gross profit (thousands of euros) 2 098 2 034 3.1% (2021: 23.1%)

Marketing expenses (thousands of euros) 1 093 1 101 -0.7% (2021: 10.5%)

General administrative expenses (thousands of euros) 734 611 20.2% (2021: 6.4% )

Net profit before taxation (thousands of euros)

392 465

Key financial indicators of Moller Auto Pärnu OÜ's economic activity in 2022 and 2021 2022 2021

Sales revenue (thousands of euros) 19 336 17 243

Net profit before taxation 392 465 (thousands of euros)

Net profit margin (%)01 2.0% 2.7%

Total asset return ROA (%)02 8.8% 15.9%

Return on equity ROE (%)03 51.1% 57.5%

Solvency ratio04 1.1 1.2

Formulas used in the calculation of ratios: 01 Net profit margin (net profitability) (%) = profit before taxation/ sales revenue*100 02 Total asset return ROA (%) = profit before taxation/ total assets*100 03 Return on equity ROE (%) = profit before taxation/ total equity*100 04 Solvency ratio, short-term obligations coverage ratio (times) = current assets/ short-term obligations

Risk of changes in exchange rates and interest rates

Transactions with the supplier are mainly settled in euros, so the currency risk is low. The interest rate on loans received and granted in connection with the group account is linked to EURIBOR.

Investments

A total of 34 thousand euros was invested in fixed assets during the reporting period (2021: 69 thousand euros).