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's activity report 2022

ACTIVITY REPORT 2022

According to the company's 2022 operating results, a satisfactory result has finally been achieved. The profit amounted to 713,223 euros, which grew from 2021.

compared to 4.9 times. The growth in profit is due to the situation in the Estonian bunkering market and the company's position in this sector.

Sanction factors worked in favor of a sharp rise in hydrocarbon prices and an increase in the sales margin. Shipowners and ship operators were in an unpredictable situation and tried to buy bunkering reserves for the future. The company had the opportunity to buy unsanctioned goods, which ensured the sale of goods.

Difficulties the company faced during the reporting year: -search for new suppliers and new goods based on new logistics - constant work with banks, which required shipping documents, certificates of origin and bank sanctions checks

The company coped with urgent problems and managed to work continuously.

The staff remained stable, the ship's crew worked efficiently, fulfilling production tasks and keeping the technical condition of the ship at a proper level.

At the beginning of 2023, the tanker IKLA underwent a full inspection and repair at the NETAMAN AS dock. For this, a collection fund was provided, from which 81,187.54 euros were paid in February 2023. At present, the ship's permits have been extended for 5 years and it is technically in good condition and ready for continuous use.

Plan for 2023:

Taking into account market trends, the company plans to make changes in its economic activities in 2023. Focus on the commercial part by removing the technical and crew component. The following circumstances led to this decision: 1. In the plans for 2023, there are thoughts to find permanent and reliable suppliers of goods resources and a financial institution that deals with lending and goods risk insurance.

2. The tanker IKLA cannot cope with the company's sales volumes, so there was a need to hand over some orders to market partners, primarily to the tanker EAST.

The company also acquired 50% of EINMIX OÜ shares to optimize expenses related to the supply of goods to the tanker IKLA. This measure ensured a continuous possibility of goods supply between terminals and the bunker ship and independence from logistics competition.

In conclusion, the company's board evaluates the results of the reporting year well and plans to continue to stay, develop and cooperate with partners and customers in the market sector.