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's activity report 2022

Nefab Packaging OÜ is part of the Nefab Group, which was founded over 70 years ago, with its parent company Nefab AB based in Sweden. The group's production and sales units are located in more than 30 countries in Europe, North and South America, and Asia.

The aim of Nefab Group's activities is to reduce resource consumption in customers' supply chains. This is done through the optimization of packaging and packaging solutions, offering global services and complete solutions. The development of the field of activity is very fast, as trade between different regions of the world is increasing and one of our goals is to create a smaller “footprint“ for the environment. More information can be found on the website www.nefab.com.

Nefab has been operating in the Estonian market since 2001. Since 2010, it has been operating under the name Nefab Packaging OÜ and in 2014

Nefab Packaging OÜ and Nefab Eesti AS, which until then owned the production buildings, were merged into

Nefab Packaging OÜ, where all activities and assets are concentrated.

Nefab Packaging OÜ aims to be a partner to all exporting companies that are committed to sustainability and value quality products and services. Our partners appreciate the impact of their activities on the environment and want to reduce it through smart packaging solutions. The majority of sales are made up of plywood and wooden transport packaging and an increasing proportion of cardboard products. An important part of our value proposition is related to services for planning the purchase of packaging material, managing stocks, packing products and storing finished products.

Compared to 2021, sales volume has grown in 2022. In 2022, the company's turnover was 33.89 million euros, of which 64% was sales to other group subsidiaries in Scandinavia and Central Europe. The company's main markets are Estonia (26% of turnover), Sweden (26%), Finland (12%), the Netherlands (12%), Denmark (7%).

In 2023, the company will continue its activities to promote its market position in the provision of comprehensive solutions, including developing partnerships with key companies in all major market segments throughout the Baltics. The market will be entered with new and innovative packaging solutions and materials and the opportunity to assess the impact of solutions on the environment. The development and digitization of services in all Baltic countries will be of great importance.

In 2021, a subsidiary Nefab Lithuania UAB was established in Lithuania to represent the Nefab brand in the Lithuanian market.

In recent years, substantial investments have been made in production equipment for automation of production capacity and increasing productivity, and investments in equipment will continue in 2023.

Financial ratios 2022 2021 Calculation formula

Net return on sales 6% 8% net profit / sales revenue

Return on assets (ROA) 13% 13% net profit / average assets

Return on equity (ROE) 16% 16% net profit / average equity

Debt ratio 0.2 0.2 (short-term debt+long-term debt) / total assets

Liquidity ratio 1.4 2.2 (current assets-inventory) / short-term liabilities

Sales revenue growth 42% 21% (sales revenue 2021-sales revenue 2020) / sales revenue 2020

Number of employees 240 233 number of employees at the end of the period