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's activity report 2022

The company has grown from a wholesale steel products company to a group, whose main business direction is the wholesale of a wide range of metal products to customers in the Estonian, Latvian and Finnish markets, and to a lesser extent to other neighboring countries. Exmet OÜ is one of the most well-known stockers of steel products in Estonia, the main sales arguments of the company are a wide range of products and quick availability of goods.

According to the development strategy and the growth of customer needs, Exmet OÜ as a group has significantly improved the product range, supply logistics and supplemented the product portfolio with its own production of reinforcement networks and bent products (Exmet RSE OÜ) and expanded the service portfolio by offering further processing services for metal products (manufacturing and installation of steel structures, cutting to size, various surface treatment services, milling, plasma cutting, laser cutting, welding works) through Exmet Services OÜ. A separate line of business has been added with the rapidly growing potential of lifting elements sales company Exmet PA OÜ.

By the end of the financial year, the company operated on a total of 37,000 square meters of its own and rented warehouse space, to which is added nearly 15,000 square meters of production space from a group perspective. As a side activity in real estate, the group's portfolio also includes the Leiva 3 property with rental income. In summary, Exmet manages a total of 70,000 square meters of closed gross area.

Significant changes in geopolitics in 2022 directly affected the entire global raw material market, and the steel products segment was no exception. Russia's military attack

on Ukraine at the end of February 2022 led to sanctions by European Union countries against Russia and Belarus, which supported the attack, which also includes a ban on the import of steel products. A significant part

of the raw materials used in the European metal industry came from these countries, so the imposed sanctions caused a shortage of steel products on the market and a sharp rise in prices. The energy crisis as an accelerator supported broad-based inflation and its impact on the construction and metal industry in Europe and, among other things, in the Baltic and Scandinavian countries turned out to be negative. The cooled economic environment at the end of last year has not fully thawed to this day.

In 2022, we focused on implementing a group-wide quality management process and activities that enable us to offer our group customers not only raw materials but also increasingly high value-added products and services.

Revenues, expenses and profit

Exmet OÜ's consolidated sales revenue for 2022 amounted to 180.7 million euros (2021: 173.6 million euros). Consolidated operating expenses amounted to 160.4 million euros (2021: 146.4 million euros). The consolidated net profit amounted to 23.7 million euros (2021: 30.2 million euros).

Financial ratios 2022 2021 change

Sales revenue (EUR) 180 651 699 173 611 387 4%

Net profit/loss (EUR) 23 691 149 30 187 624 -22%

Short-term liabilities coverage ratio 4.00 2.31 73%

Solvency ratio 1.61 0.78 106%

Return on assets (ROA, %) 20.8% 28.3% -27%

Return on equity (ROE, %) 27.0% 47.2% -43%