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's activity report 2022

The main activity of Innovative Water Systems OÜ is the production of plastic plates, sheets, profiles, pipes, hoses, fittings, etc. (EMTAK: 22211).

The aim of the activity is to develop and produce technical products in the field of sewage, water supply and industry.

The main products manufactured by the company are stormwater and sewage pipes, pumps and tanks used by water and sewage companies. Small pumps, septic tanks, tanks and industrial tanks used in private households are also produced. The products are made from prepared semi-finished products and usually as a custom order according to the needs of a specific project.

Developments in 2022:  The company's turnover increased by 17% and exports by 52% compared to 2021.

 We participated for the first time in Europe's largest trade fair IFAT 2022, in Munich.

 We developed and launched a new pump solution for solid particle separation.

 The number of employees remains at 30. Goals for 2023:  Increase export volumes and enter new markets.

 Develop a new series of small pumps.

 Participate in local trade fairs in cooperation with export partners.

Impact of COVID-19 on business in 2022:  In 2022, several employees of the company fell ill with the COVID-19 virus and production was significantly disrupted for two weeks, productivity was at 30% of our capacity during this time.

 Due to the spread of the virus, several planned foreign visits were also cancelled, which negatively affected the growth and development of the company.

Economic results 2022 2021

Turnover growth 17% 22%

Profit/ loss growth -10% 7%

Net profitability 7% 9%

Short-term obligations coverage ratio 2.2 2.1

Formulas used in the calculation of ratios:

Turnover growth (%) = (sales revenue c.y.- sales revenue p.y)/ sales revenue p.y x 100

Profit growth (%) = (net profit c.y- net profit p.y)/ net profit p.y x 100

Net profitability (%)= net profit/sales revenue x 100

Short-term obligations coverage ratio = current assets/ short-term liabilities