This company's branding has already reached 17,321 peopleand his is followed by 138 Storybook users.On average, the company has been rated 5.0 points.and commented 2 times.

Activity report 2022

OÜ Lasita Maja is a company that produces wooden garden and summer houses, realizing most of its production in export markets. The company's production activity takes place in Estonia. In two significant markets,

Germany and the United Kingdom, OÜ Lasita Maja's sales activities are partially organized through subsidiaries Lasita Maja Deutschland GmbH and Lasita Maja UK Ltd.

Lasita Maja experienced extreme and radically changing conditions in various markets throughout 2022.

The primary impact of the aggression war initiated by Russia against Ukraine in the first quarter of the year on the company was the disruption of sawn timber supply chains, which threatened to cause a serious deficit of this raw material as the year progressed. OÜ Lasita Maja managed to redirect sawn timber procurements to alternative suppliers in the Baltics and Scandinavia relatively well. To verify the sustainability of the purchased timber materials from sources in line with sustainable forestry practices, the company also initiated PEFC certification in addition to the existing FCS standard.

Inevitably, the situation in raw material markets also led to an increase in timber prices, assisted by the rise in prices of other energy-intensive production inputs. In the last quarter of 2022, there was a relatively rapid decline in sawn timber prices. Lasita Maja managed to use most of the relatively expensive raw material stocks procured earlier by the end of the reporting year, which undoubtedly improves the company's competitiveness in the first quarter of 2023.

The boom in the garden and summer house market during the two previous seasons and the optimistic pre-orders made for the 2022 summer season collapsed the respective markets in Europe with amplification, and Lasita Maja inevitably had to adjust production volumes.

Changes in the organizational structure and the adjustment of the number of jobs were carried out in several waves in the company. Gradually, the number of jobs was reduced to a level that made it reasonable to implement a shift work model throughout the company. Along with adjusting production volumes, the company also sought opportunities to save on other operating costs. Most of the cost-saving measures were implemented by the end of October 2022.

Despite the sharp decline in sales volumes, Lasita Maja managed to achieve a decent net sales realization in 2022, amounting to 49,717,812 €. In historical terms, this is only below two previous years when the market volume was inflated by indirect effects of the Covid-19 pandemic.

Compared to 2021, the company's turnover fell by 15.6%. The only markets that managed to show significant growth were Italy and Australia.

The company's gross profit for the reporting year reached 17,517,000 euros, which is only 2.2% below the corresponding figure for 2021. The gross profit margin improved to 35.3% in 2022. (The corresponding figure for 2021 was 30.2%) Considering the dynamics of raw material prices, the company managed the output prices of production relatively well. Due to the relatively lower open order stock, the company's management had a better overview of the input prices of materials to be realized for specific orders than during 2021.

Thanks to reduced production volumes, the company managed to avoid a sharp increase in warehouse stocks by the end of the year.

As of 31.12.2022, the company had raw material and finished goods stocks worth 11,058,000 euros, which is 5.5% more than at the end of 2021. The level of working capital in the company fell by 7,446,000 euros or 9.7% during 2022.

The company prefers FSC and PEFC certified raw material for the main raw material used in production - sawn timber. During the reporting year, the share of material originating from FSC and PEFC supervised supply sources reached nearly 80 percent.

The company used only short-term financial instruments during the reporting year, as a result of which financial risks (including interest risks) are low.

In 2022, OÜ Lasita Maja made investments in fixed assets amounting to 0.4 million euros.

This included the installation of a spark extinguisher in the aspiration system, the acquisition of smaller production equipment, and the renewal of the forklift fleet.

The company complies with all environmental norms and laws in its operations. OÜ Lasita Maja was issued an environmental permit with indefinite validity in 2022. In 2022, OÜ Lasita Maja