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's activity report 2022

ProvideU Assembly OÜ's field of activity is the production of electronic components. The company is part of the Novedo

Holding AB consolidation group.

In 2022, the company's main activity was the purchase of materials and components, the manufacture, processing, assembly and testing of electronic, mechanical, pneumatic products from purchased materials and components.

ProvideU Assembly OÜ's turnover depends on customers who order finished products from us. Business is not seasonal, but orders are fulfilled year-round and are based on customer forecasts and frame orders, which are updated quarterly and in real time if necessary. The company's management has worked to reduce adverse effects on the company's financial operations. All unpaid long-term liabilities are denominated in euros.

In 2022, we started new projects and made prototypes for existing and new customers, whose main task was the development of both newer and older generation technologies.

In 2022, we optimized warehouse management and purchased additional storage towers for electronic components.

In 2022, we continued to work with the existing customer base, for whom we largely developed the manufacture of printed circuit boards - storage of electronic components in the SMT machine and AOI control, hand and wave soldering in the machine, testing, and varnishing of finished PCBs with UV varnish, as well as the manufacture, processing, assembly and testing of mechanical, pneumatic products from purchased materials and components. In 2022, we continued to do milling and other CNC work ourselves, which we previously ordered as subcontracting from other suppliers.

Production and household waste is generated in the company's factory. The production processes generate metal waste (such as steel and copper), plastic waste, hazardous waste and packaging waste (film, cardboard, paper). Household waste is also generated by non-production activities. Some packaging materials are reused both internally and when delivering products to customers. Circulating packaging is used with some suppliers.

Waste sorting is controlled by marked waste containers and boxes. Since 2022, we have started to assess the quantities, volumes and carbon dioxide emissions of the transport used for delivered components. The company has contractual and reliable partners for waste management, who provide information on waste statistics. Based on the data submitted, we make decisions to reduce significant environmental and social risks.

ProvideU Assembly OÜ complies with ISO9001:2015; ISO14001:2015; ISO18001:2007, CSA for explosive atmosphere electrical equipment, as well as FM Approvals and NEMKO certificate requirements.

In 2022, ProvideU Assembly OÜ had an average of 51 employees.

In 2023, the plan is to continue in the existing field of activity and to fulfill orders for existing projects. At the same time, we continue to search for new customers. The main focus in production is on quality control and ensuring deliveries by the desired date of the customer. Facing

The instability caused by the war in Ukraine and energy prices, the challenge is to adapt to the new reality in order to maintain economic activity during and after the crisis. One form of adaptation is to redesign the existing business model and increase flexibility in providing services to our customers.

Main financial ratios: 2 022 2 021

Operating profit margin 10% 12%

Short-term debt coverage ratio 2.26 2.15

Debt ratio 0.41 0.42

Return on assets (ROA) 17% 26%

Return on equity (ROE) 28% 44%

Methodology for calculating financial ratios: