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's activity report 2022

SCM OÜ is engaged in the management of mechanical engineering and metalworking projects and the manufacture and sale of products in the respective field.

The company's sales revenue for 2022 was 11,272,391 euros, loss 536,079 euros, and balance sheet total 3,541,079 euros.

In 2022, the company paid a salary of 18,910 euros to a board member.

The reason for the extraordinary loss is the war in Ukraine that began in 2022. As a result of the war, steel prices rose 2.5 times in March-May 2022 compared to the pre-war price levels. In addition, steel supplies from Russia and Ukraine completely ceased, causing a large raw material deficit and affecting the reliability of our product supplies.

In 2023, the metal industry has adapted to new steel supply regions (previous suppliers from Russia and Ukraine have been successfully replaced with new suppliers from Europe) and as a result, steel price levels have now fallen below pre-war levels. However, it should be noted that the second half of 2023 and the forecasted first half of 2024 are seeing an economic slowdown, which is also affecting mechanical engineering. Many customers have significantly reduced order volumes and they predict that such a decline may last until mid-2024. To mitigate such risks, SCM has successfully found new customers, whose orders help us to successfully navigate the general economic downturn.

Main financial ratios: 2022 2021

Sales revenue 11,272,391 7,893,397

Revenue growth 42.81 27.86

Net profit -536,079 161,938

Net profitability -4.76 2.05

Short-term obligations coverage ratio 0.99 1.32

ROA -15.14 4.663

ROE -109.79 14.51

Formulas used in calculating ratios: * Sales growth (%) =(sales revenue 2022-sales revenue 2021)/sales revenue 2021*100 * Net profitability (%) = net profit/sales revenue*100 * Short-term obligations coverage ratio (times) = current assets/short-term obligations * ROA (%) = net profit/total assets*100 * ROE (%) = net profit/total equity*100