Already 9,948 people have seen this company's branding and they are being followed by 69 Storybook user.In average the company has been rated 3.7 points ja kommenteeritud 12 korda.

's activity report 2022

Lunden Food OÜ, which started production in 2007 under the name Lunden Tootmine OÜ, achieved a turnover of 32,816,026 euros in the current financial year (2021: 24,931,994 euros).

The company produces various chilled and frozen ready meals: stuffed breads, salads, sushi, pizzas, casseroles, desserts and other foods.

Lunden Food OÜ's financial results for 2022 were worse than expected. Significant turnover growth was achieved in 2022 compared to the previous year, but this was not enough to reach the company's profit.

The main growth in turnover came from Finnish and Estonian retail chains and convenience stores.

The company's main market has been Finnish retail chains and aviation companies and cruise ships in the Baltic Sea, where 78% of the company's total production was marketed in 2022.

Significantly more was invested in the local Estonian market, with production sold in Estonia accounting for approximately 20% of the total volume. The largest customer in the domestic market is

Circle K Eesti AS petrol stations.

The coronavirus crisis strongly affected the company's production volumes and sales results. However, the company was able to provide work for its employees, maintain jobs and carry out planned investments.

The goal for 2023 is to emerge from the crisis profitably by finding new customers and markets, while keeping costs under control.

The planned turnover for 2023 is 38 million euros, or 16% more than in 2022.

Macroeconomic developments can affect the company's operating environment in different directions. Economic growth and the addition of labor force have a positive effect, while rapid price increases have a negative effect. Hopefully, the tourism and catering sector will also recover from the recent downturn. We are most looking forward to stabilizing the situation, which would allow the company to operate evenly, with as little seasonal impact as possible.

The trend continues to invest in increasing production efficiency and updating the company's technology - in 2023, investments of 585 thousand euros are planned. (2021: 429 thousand, 2022: 647 thousand). In recent years, investments have been mainly replacement investments (to replace depreciated equipment), but since 2022, a significant part has also been investments supporting production expansion.

Lunden Food OÜ is increasingly focusing on monitoring the social and environmental impacts associated with its activities and developing responsible and sustainable operations.

Since 2020, we have joined EcoVadis, in the first year we were at the bronze level, in 2021 we achieved the silver level. In 2023, we try to maintain the silver level, focusing on reducing the carbon footprint.

The company employed an average of 322 full-time employees (2021: 317). Labor costs were a total of 4,501,463 euros, to which social security costs of 1,481,158 euros were added (2021: labor costs 4,002,195 euros, social security costs 1,323,785 euros).

The company's operations are open to various financial risks: interest rate risk, liquidity risk and risks associated with changes in exchange rates.

The interest rate risk increases when general interest rates start to rise. Profits earned in previous financial years have not been distributed by the company and investments have been made from own funds. Also in 2023, the aim is to reduce the risk by investing only using own funds. The company has no loan obligations, so the management considers the credit risk to be insignificant.

In the management's opinion, the company will not have direct liquidity problems, the aim is to improve the monitoring of accounts receivable to reduce indirect liquidity risks.

Lunden Food OÜ does not buy raw materials from third countries itself, but through its suppliers. This means that the company is indirectly exposed to the effects of changes in exchange rates.

On 24.02.2022, Russia started a war with Ukraine. In the management's opinion, the war indirectly affects the company's operations. The situation has significantly deteriorated in terms of the availability of raw materials, and raw material prices have already risen and will continue to rise. Due to agreed restrictions on the purchase of Russian energy carriers (oil and gas), transport prices have risen, as have electricity and heating prices.

Key financial ratios:

Business profitability (%) = operating profit / sales revenue * 100 2022: -0.66 % 2021: -1.94 %