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's activity report 2022

Main areas of activity, product and service groups of the company

AS Med S&P was registered on 13.08.2012 as a private limited company. In 2016, OÜ Med S&P was restructured into a joint-stock company. After the restructuring, all current employees of AS retain their jobs. The shares of Med S&P OÜ were replaced with Med S&P AS shares.

The main activity is the wholesale of medical equipment and it was engaged in this in the 2022 financial year.

Sales revenue consisted of 99.36% sales to Belarus in the amount of 3447449 euros./2021:2499348 eur/.

Number of employees, labor costs and board fees and benefits

AS Med S&P consists of one board member.

The number of employees at AS Med S&P in 2022 was six employees and the total salary with taxes for them amounted to 104 709 euros.

In 2022, MED SP AS opened a representative office in Belarus. The main activity of the representative office is to seek business opportunities.

The number of employees in the representative office in 2022 was four people and the total salary with taxes for them amounted to 59989 euros

Main financial figures for the financial year and the previous financial year and their accounting methodology 2022 year 2021 year

Sales revenue (eur) 3469825 2499348

Sales revenue growth 0.39 -0.49

Net profit (eur) 393043 256143

Net profit growth 53.45% 40.76%

Net profitability 0.11% 0.10%

Coverage ratio of short-term liabilities 3.51 4.60

ROE 0.27% 0.24%

Methodology for calculating the financial figures provided:

Sales revenue growth = (2022 sales revenue -2021 sales revenue)/2021 sales revenue

Net profit growth (%) = (2022 net profit - 2021 net profit)/2021 net profit*100

Net profitability (%) = net profit/ sales revenue*100

Coverage ratio of short-term liabilities = current assets/ short-term liabilities

ROE (%) = net profit/equity *100

Future plans

The main objectives of AS Med S&P in 2022 are to find a market share in Estonia and to expand and strengthen its position.

The outbreak of the Covid-19 virus at the beginning of 2021 and the declaration of a state of emergency in Estonia

Republic, certainly affected the activities of MedS&P AS.

Due to the pandemic, the activities of MedS&P AS's key suppliers and medical device manufacturers slowed down significantly