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's activity report 2022

Radius Machining is a metalworking company established in 2005, whose main activities are serial CNC turning and milling, production of hydraulic components and assembly of nodes.

The company has high competence and long-term experience in its field. The company employs 70 people.

Modern machinery allows to produce effectively both simple and complex details.

The company's goal is to be successful in the long term, to produce added value for owners and to provide high-quality products to customers. For this, we involve our partners, we are flexible, we monitor the requirements of customers and legislation. We constantly update our knowledge to use best practices and implement innovation.

The year 2022 will be characterized by record prices for raw materials and energy. The stabilization of input prices only began in the last months of the fiscal year.

Radius Machining's sales revenue grew to a record 9.7 million euros in 2022 (2021: 7.95 million euros).

However, operating profit decreased by 35% compared to 2021 to 531 thousand euros (2021: 807 thousand euros).

The company's sustainable activities are supported by stable customer relationships based on long-term reliable cooperation. At the same time, there is a constant search for new customers.

To satisfy customer needs, develop production processes and increase efficiency, the company continues to invest in production equipment. In 2022, a total of 576 thousand euros was invested in equipment. A resource efficiency project was started, which will provide additional capacity in the milling department in 2023 in the form of a new CNC work center and energy savings throughout the company's building automation and transition to LED lighting.

At the end of 2022, the company acquired 100% of Radius Linder and parts of Radius.

In 2023, in addition to supplier delivery problems, the solvency of customers continues to be a major risk.

Realized political and economic risks will continue to significantly affect supply chains and raw material and energy prices. The impact of the war in Ukraine, the resulting economic downturn in both Estonia and Europe will have a significant impact on the continuity of the company's operations. In the management's opinion, the company's operations do not have significant environmental or social impacts. We consider currency risk to be rather insignificant. The company's operations are not seasonal.

Key financial ratios of Radius Machining 2022 2021

Operating profitability (operating profit / sales revenue * 100) 5.5% 10.2%

Return on equity ROE (net profit / equity * 100) 13.4% 22.5%

Return on total assets ROA (net profit / total assets * 100) 7.3% 12.1%

Short-term debt coverage ratio (current assets / short-term liabilities) 1.9 2.0