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's activity report 2022

Lemoine Estonia OÜ is a company owned by Groupe Lemoine SA and Biosphere Holding Ltd, whose main activity is the production and sale of cotton hygiene products. The company was founded in 2014 and the company started its main activity in 2015.

In 2022, the company produced a total of 4,713 tons of cotton cloth, which is 1.6% more than in 2021.

year.

In 2022, the company produced 47 million packs of cotton pads, which is 2% more than in 2021.

In 2022, the utilization of production capacity was on average 96% compared to 2021, where the utilization of production capacity was on average 94%.

The turnover in 2022 was a total of 16.696 million euros, which is 29.5% more than the previous year. The difference is due to the increase in the selling price, which was about 22% during 2022, the increase in the share of cotton cloth sales and the arrival of new customers.

93% of turnover (15.518 million euros) was the sale of cotton pads and 6% (967.8 thousand euros) was the sale of cotton cloth. The turnover for 2021 was 12.897 million euros, of which the sale of cotton pads accounted for 97% (12.558 million euros), 3% came from the sale of cotton cloth (339 thousand euros).

11% of turnover came from exports to Ukraine, 85% was intra-EU sales and 4% of sales to other third countries. In 2021, 35% of turnover was from exports to Ukraine and

Russia, 63% was intra-EU.

The company earned a net profit of 190,441 euros in 2022 (in 2021, the net loss was 189,228 euros). The economic result was strongly influenced by the increase in selling prices and the favorable energy purchase price, which was fixed at a very good level for 2022.

Main financial ratios

Main financial ratios 2022 2021

Sales revenue (th EUR) 16,696 12,897

Sales revenue growth 29% 4%

Operating profit (th EUR) 219 218

Net profit (th EUR) 190 189

Net profitability 1.1% 1.5%

Short-term obligations coverage ratio 0.9 0.7

Formulas used in the calculation of ratios:

Sales revenue growth (%) = (sales revenue 2022 – sales revenue 2021)/ sales revenue 2021* 100

Short-term obligations coverage ratio (times) = current assets/short-term obligations

In 2022, an average of 51 people worked in the company (53 people in 2021), of which 34 were directly involved in production (36 people in 2021), 7 were production-supporting workers and