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's activity report 2022

AS Hotel Viru belongs to the Pontos Group, whose home country is the Republic of Finland. The company's main activity is renting real estate in Tallinn.

The company's main tenant is AS Sokotel.

In 2022, AS Hotel Viru's revenues increased to 7.1 million euros. The corresponding figure for 2021 was 6.5 million euros.

AS Hotel Viru's profit for 2022 was 1.3 million euros. In 2021, the company earned 9 million euros in net profit. The main factors affecting net profit were the adjustment of the value of real estate and the temporary discount on loans given due to the fall in the SRV share price.. 2022.

The value of real estate increased by 2.9 million euros in 2022 and the temporary discount on loans given negatively affected the profit by 11.4 million euros.

Key issues related to the company's operations were discussed at board meetings or at shareholder meetings convened at the initiative of the board Timo

Tapani Kokkila served as the sole member of the board.

AS Hotel Viru had no employees under employment contract in 2022. No remuneration was paid to the members of the board and the council.

The lease agreement with AS Sokotel is valid until 31.8.2028.

As the company's economic activity is limited to the euro area, the company does not have significant economic risks associated with changes in exchange rates on the world market.

The general (macroeconomic) development of the operating environment of Hotel Viru AS has been more volatile in the post-pandemic year than before. The stability of the company's financial results is ensured by a long-term lease agreement with the anchor tenant. The biggest influencer in the financial results of Hotel Viru AS is the increase or decrease in the value of real estate in connection with the formation of fair value. The increase in the value of the property in 2022 had a positive impact from the perspective of Hotel Viru AS. In 2022, the economic activity of the real estate sector was also negatively affected by a sharp increase in energy costs and, consequently, a sharp increase in the cost of living in the operating environment.

There are no significant influencers in the business activities of Hotel Viru AS from the perspective of seasonality or cyclical economic activity. The lease agreement of Hotel Viru AS

with Sokotel AS is not based on turnover-based rent, but is fixed rent, balancing possible seasonality and providing resilience to economic fluctuations.

Hotel Viru AS continues to adhere to the principles of economical and sustainable management.

Financial results

Main financial indicators in euros 2021 2022

Sales revenue 6 472 418 7 073 559

Change in sales revenue 7.7% 9.3%

EBITDA 8 623 699 9 445 210

Change in EBITDA % 343.7% 9.5%

Operating profit (loss) 8 623 699 9 445 210

Net profit 8 909 911 1 297 680

Change in net profit 290.4% -85.4%

Equity ratio 60.9% 58.6%

Return on equity (ROE) 12.2% 1.8%

Return on assets (ROA) 7.2% 1.1%

EBITDA = profit before financial income and expenses and depreciation

Equity ratio = equity / average assets

Return on equity (ROE) = net profit / average equity * 100%

Return on assets (ROA) = net profit / average asset volume * 100%