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's activity report 2022

The Central Cooperative Private Forest was established in 2009 by forest cooperatives. The main objective of the cooperative is to generate profit for its members, protect their economic interests, support and promote them through joint economic activity. The aim of the cooperative is to increase the income of forest owners from the forest through the joint marketing of produced timber and its processed products.

The members of the cooperative are 11 regional non-profit cooperatives registered in Estonia in the field of forestry.

The main activities of the Central Cooperative Private Forest in 2022 were the organization of the sale of roundwood and logging residues on the Estonian domestic market and the sale of planting material to private forest owners. The timber market was quite volatile in 2022 due to various global events, but at the same time, the prices of roundwood were very good. In the last quarter of the year, several timber assortments had absolute record prices. However, this has been followed by a rather rapid decline at the beginning of 2023. A total of 3 million plants were sold as planting material. The planting volumes have been affected rather by the decreasing logging volume, while there is an oversupply of certain plant articles in the sale of planting material. The Central Cooperative

Private Forest does not own the necessary equipment for reforestation or the organization of timber transport.

The aforementioned services are purchased from subcontractors. In 2022, support was successfully applied for from the

Environmental Investment Center to implement a project to create a cooperation platform for the establishment of new forests and carbon sequestration. The project activities will continue in 2023.

The development of the common brand of forest cooperatives continued. The aim is to make forest cooperatives stronger and more noticeable, as the number of companies operating in the sector is very large and differentiation under different brands is extremely complex. In 2022, no new cooperatives joined the "Forest Cooperative" brand.

There are still 8 forest cooperatives, 7 of which are members of the Central Cooperative Private Forest. All forest cooperatives that meet the quality requirements can join the brand.

In 2023, it is planned to continue with generally the same activities as in 2022. In 2023, the timber market may be rather in a slump, as there is a global decline in demand for sawn timber and packaging materials. Also, energy prices have fallen in the first quarters of 2023, which have a strong impact on the price of lower quality wood. In 2023, a social agreement is expected in the form of a new forestry development plan, which will allow for longer-term planning of forest management and timber market developments.

In the field of selling planting material, we must continue to provide quality service, i.e. quality plant, competitive price, convenient ordering and timely deliveries.

The company employs 2 employees (2 employees in 2021)

Key ratios:

Liquidity ratio (current assets-inventory/short-term liabilities) 1.2 times (2022) and 1.4 times (2021)

Net sales profitability (net profit/sales)*100 0.04% (2022) and -0.002% (2021)

Return on equity ROE (net profit/equity)*100 1.4% (2022) and -4.3% (2021)

Level of financial resources (cash/short-term liabilities) 0.5 times (2022) and 0.6 times (2021).