Already 4,683 people have seen this company's branding and they are being followed by 36 Storybook user.In average the company has been rated 5.0 points but has not been commented.

's activity report 2022

Green Marine AS is a subsidiary of AS Tallinna Sadam, whose main activity is the provision of comprehensive environmental services to AS Tallinna

Sadam and other ships arriving at ports. Other significant areas of business include the provision of waste management services for pumpable oil residues, construction and demolition waste management services, and waste management services for the Estonian Defense Forces and other clients.

As a result of its main activity, the company's priority continues to be the environmental servicing of ships. The company's activities are characterized by seasonality, with the volume of work increasing significantly from May to October, as the number of passenger ships increases during this period and cruise ships also visit the port of Tallinn. The servicing of the latter has a significant impact on the company's financial results.

The company has set a goal to increase the volume of waste to be recycled and reused, based on the opportunities in Estonia and neighboring countries. Sustainability development has always been a priority for the company. All work in the company is organized according to the quality and environmental management standards ISO 9001, ISO 14001 and AQAP 2110.

The financial results of the reporting year, compared to the previous financial year, were most positively influenced by the significantly increased acceptance of pumpable oil residues and the high world market price of crude oil. As a result of the above, the sales revenue from the realization of the fuel component increased.

In January 2022, AS Green Marine was recognized as a successful bidder in the public procurement organized by AS Tallinna Sadam for the provision of ship waste management services in Vanasadam, Muuga port, Paldiski South port, Paljassaare port and Saaremaa port, as a result of which the provision of the mentioned services to AS Tallinna Sadam will continue. As a result, investments will be made to modernize transport and collection equipment and to improve waste final treatment.

The volume of servicing line and cargo ships, compared to the previous period, somewhat decreased due to the decrease in cargo volumes in the port and changes caused by the chartering and sale of passenger ships by tour operators. The volume of servicing cruise ships increased during the same period.

The largest development project during the reporting period continued to be the development of a construction and demolition waste management complex. The launch of the complex supports the handling of waste accepted as a result of the service provided to construction companies and increases their recycling and reuse. The volume of waste handled, compared to the previous period, made a big leap.

Waste management services were still provided to the Estonian Defense Forces under a contract concluded with RKIK.

The Environmental Investment Center SA supported the company's activities to increase waste recycling by purchasing 2 sorting grabs and containers.

Year by year, the share of services provided to other clients has grown compared to the services provided to AS Tallinna Sadam.

The management highly values the dedicated and professional team, therefore employee motivation continues to be important. This is also reflected in increased labor costs and other costs for employee motivation. Great attention is also paid to employee safety.

In 2023, the management will continue to work in the same areas, taking into account all important priorities. For 2023, the company has planned investments to renew transport vehicles, machinery park and containers. All acquired and to be acquired in 2023 transport vehicles comply

with EURO 6 standards.

The increase in Euribor that started in 2022 did not have a significant impact on the financial results of the reporting year. However, the company predicts its impact to increase in 2023.

Ratios 2022 2021 2020

Change in turnover 44.76% 83.87% -44.96%

Change in profit 79.18% 197.01% -296.02%

Net profitability 19.86% 16.04% -30.41%

Coverage ratio of short-term liabilities 1.73 1.54 0.60

Debt ratio 0.40 0.41 0.51

ROA 22.33% 16.48% -39.77%

ROE 37.33% 27.84% -39.77%

Formulas used to calculate ratios:

Change in turnover (%) = (sales revenue current year - sales revenue previous year) / sales revenue previous year *100