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's activity report 2022

The main activities of Magnum Logistics OÜ are the handling of medicines, including veterinary medicines, transport services, logistics services and forwarding, and the retail and wholesale trade of industrial and food products in non-licensed activities.

Magnum Logistics OÜ provides various goods handling and storage services mainly to Magnum Group wholesalers (98% of turnover (2021/22: 94%)).

Magnum Logistics OÜ operates in a rented building at Vae 16 Laagri, Harjumaa, where goods arriving from suppliers are received, processed and issued according to customer orders. The goods belong to wholesalers and are taken into responsible storage by OÜ Magnum Logistics. OÜ Magnum Logistics rents a fleet of vans necessary for distribution, and services for distribution are also purchased from contract partners. Goods are delivered to customers according to agreed schedules. The warehouse operates on weekdays and weekends in two shifts. In addition, Magnum Logistics OÜ rents warehouse space in Tänassilma Technopark on Jälgimäe Road. There, mainly veterinary goods and foodstuffs are processed.

In 2022/23, the total labor cost of Magnum Logistics OÜ, including social taxes, was 4,799 thousand euros (2021/22: 4,317 thousand euros), including the remuneration of the board member 87 thousand euros (2021/22: 82 thousand euros). The average number of employees during the year was 214 people (2021/22: 197). The results of the reporting period of OÜ Magnum Logistics were affected by the increasing wage pressure along with the shortage of qualified labor.

Magnum Logistics OÜ has been issued with the necessary permits for handling and processing medicines by the State Agency of Medicines. The State Agency of Medicines has also issued a GMP (Good Manufacturing Practice) license for the processing of medicines. The performance of the quality system of Magnum Logistics OÜ has also been assessed during several audits by pharmaceutical manufacturers, as a result of which the quality system and processes of Magnum Logistics OÜ have been recognized as compliant.

In this financial year, the volume of pet product handling increased. Deliveries of goods to pet stores in Latvia and Lithuania continued.

The year 2023/24 is expected to be similar to the previous year, with the volume of services expected to grow somewhat. There were no changes in the handling of medicines in 2022/23 - the requirements for goods handling set by the state and business partners have largely remained unchanged. The same situation continues in 2023/24. The persistence of similar conditions eliminates the need for major changes in the business process in 2023/24.

In the opinion of the management, despite the changed economic environment, the company's credit risk has not changed significantly compared to the past.

Similarly, in the opinion of the company's management, the company's liquidity risk is low and it is able to fulfill its obligations to creditors. Since the company's business activities are essentially entirely in euros, the conventional currency risk is marginal and no transactions are concluded to hedge possible currency risks. As of 30.04.2023, there were interest-bearing obligations for 160 thousand euros, the repayment deadlines of which do not exceed five years and the interest rates do not change significantly. Therefore, interest risks are insignificant for the company.

The impact of the seasonality of handling medicines, pharmacy goods, hospital supplies and pet products on the business activities of Magnum Logistics OÜ is modest. There are some seasonal changes in the handling volumes of different product groups, but the overall handling volume changes little. However, the war in Ukraine-Russia and rapid inflation have caused a deterioration in the economic environment, which in turn may affect the company's financial results in the future.

The impact of the Covid-19 virus on the company's daily operations has become marginal. During the summer vacation period, temporary labor is used in addition to its own employees, which has a positive impact on employment in society.

Magnum Logistics OÜ has been actively working on improving continuity by updating process descriptions, increasing the reliability of techno systems and adding backup systems.

The environmental impact of Magnum Logistics OÜ's operations is low and consists of the combustion residues of natural gas used for heating buildings and the exhaust gases of diesel vans. The company follows the Estonian green turnaround action plan 2023-2025 in its environmental activities. In addition to direct business objectives, the company also pays attention to innovation, contribution to society and employee development, and modern principles of equal treatment of labor.