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's activity report 2022

The main activity of Lantmännen Unibake Estonia AS is the production of frozen bakery products. Lantmännen Unibake Estonia AS is part of

the Lantmännen group, which is an agricultural cooperative owned by 18,000 Swedish farmers.

Products are marketed in Sweden, Finland, Norway, Denmark, Poland and the Baltic States. In 2022, sales revenue was 30,937 thousand euros (in 2021, sales revenue was 26,180 thousand euros).

The average number of employees in 2022 was 150 people (the average number of employees in 2021 was 139 people). The total amount of wages calculated for 2022 was 3,967 thousand euros (the total amount of wages calculated for 2021 was 3,407 thousand euros).

It is important for the company to operate in an environmentally friendly and efficient manner. Among other things, the amounts of bio-waste generated in production and the purity of wastewater are regularly monitored, as well as energy consumption. We also prefer sustainable and ethical solutions, such as cage-free eggs and RSPO certified palm oil.

In 2022, 749 thousand euros were invested in production equipment and software. In 2021, 511 thousand euros were invested in production equipment. Investments in production equipment will continue in 2023.

As sales revenue is mainly obtained from the Swedish and Finnish markets, the general macroeconomic development of these countries affects the company's operations.

In 2023, the company's main goal is to manage risks associated with rising input prices, and to make production more efficient.

The main activity of the joint-stock company is characterized by ratios and their calculation methodology.

2022 2021

Operating profit margin 1.2% 2.0%

Net margin 0.7% 1.6%

Return on equity 3.6% 7.2%

Return on assets 1.5% 2.7%

Equity ratio 42.1% 38.8%

Operating profit margin: operating profit/sales revenue

Net margin: net profit/sales revenue

Return on equity: net profit/average equity for the period

Return on assets: net profit/average assets for the period