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's activity report 2022

Economic environment and its impact

HAVI Logistics OÜ provides comprehensive logistics services and supply chain solutions to the leading retail chain RIMI in the Baltics.

HAVI considers its strengths to be customer orientation, high service quality, handling and distribution of food products requiring different temperatures, which require complex processes, thereby ensuring food safety and quality. HAVI Logistics is part of the international HAVI Group, whose parent company is based in America and operates in more than a hundred countries around the world, including Europe and Asia. HAVI Logistics OÜ is

a subsidiary of Latvian HAVI Logistics SIA, operating in the Baltics as an integrated Baltic business unit. Globally, HAVI's clients include well-known major brands such as McDonalds, Subway, Vapiano, KFC and others. In addition, HAVI's service portfolio includes supply chain management, consulting, procurement, marketing services and the development of comprehensive solutions. Under the renewed directions, digital product developments can be found in the restaurant, convenience and retail sectors. The company's goal is to provide and develop strategic cooperation and ensure quality service.

Main developments of HAVI Logistics in 2022

The economic environment in 2022 was affected by high inflation, which led to a faster increase in the prices of goods than the general wage level. In the first half of the year, the impact of price growth on supplies was smaller, as the energy price mainly increased sharply. In the second half of the year, the decrease in consumption caused by the increase in the prices of goods and high energy prices affected the supply of goods. However, there was no significant decrease in supplies, as

RIMI chain of stores offers a wide range of consumer goods to buyers. The continuous pressure on service quality and limited budget has necessitated the efficient and safe use of resources. Safety is primarily focused on health and food safety. The company successfully passed the BRCGS global food safety standard audit in 2022. The keyword for personnel management has been equal treatment and occupational safety. As part of equal treatment of employees, the company participated in the Fontes salary survey to compare its employees' salaries with other sector participants and to get an overview of changes in the salary market. In 2022, the company was awarded the title of equal wage payer.

Economic activity and income

The turnover of HAVI Logistics OÜ for the financial year 2022 was 6.3 million euros (2021: 6.3 million euros), the company's turnover remained at the same level as in 2021. The company employed an average of 147 employees in 2022 (2021: 161 employees). The total wage cost was 2,801,811 euros (2021: 2,985,733 euros). No remuneration was paid to the members of the Management Board in 2022.

The company did not invest in fixed assets in 2022.

Ratios (cid:127) The liquidity ratio measures the company's ability to pay short-term liabilities with short-term realizable assets (2022: 0.58; 2021: 0.44).

The company's liquidity position improved in 2022.

Liquidity ratio = current assets / short-term liabilities (cid:127) The debt ratio is a solvency ratio that shows what proportion of assets are liabilities - (2022: 0.89; 2021: 0.92). The company's debt ratio remained relatively stable in 2022.

Debt ratio = total liabilities / total assets (cid:127) The solvency ratio compares the company's most liquid asset - cash, with its short-term liabilities - (2022: 0.21; 2021: 0.19). If the company's solvency ratio is below 1, it has more short-term liabilities than cash and its equivalents. The indicator remained relatively stable in 2022.

Solvency ratio = cash / short-term liabilities (cid:127) Net return on sales is a financial ratio used to calculate the percentage of profit from sales revenue - (2022: 3.8%; 2021: 3.6%). The indicator improved in 2022.

Net return on sales (%) = net profit / sales revenue *100 (cid:127) Return on equity (ROE) is a financial ratio that shows how well the company manages the capital that shareholders have invested in it - (2022: 93.5%; 2021: 93.2%). The 2022 indicator remained relatively stable compared to previous years.

ROE (%) = net profit / equity *100