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's activity report 2022

Introduction

USA Cars OÜ was established on August 21, 2014. The main activity of USA Cars OÜ is the sale of used and new passenger cars and minibuses (with a total mass of less than 3.5 t). In 2016, a strategic decision was made to expand operations to Europe. From that moment on, even more time is dedicated to individual work with clients and attempts are made to make truly valuable, interesting offers in every sense to the company's partners. Over 150 exclusive American cars were sold in the EU territory. Each car is a pride of its owner. The main priority of the company's work is the quality of service, logistical processes, negotiation stage, and legal framework.

Economic Environment

The last few years have been hectic in the automotive industry - due to the chip crisis, there was a deficit of new cars and the used car market flourished. Now new cars are back on the market, but people's consumer confidence has taken a serious hit due to price increases. General price increases and rising living costs make consumers and companies more uncertain, and larger expenses, such as buying a new car, are postponed to the distant future. At the same time, car dealers' warehouses are filling up as car factories have been vigorously fulfilling interim pre-orders. Special offers and discounts are being made again to attract buyers.

More and more new cars are coming to the market, which will continue to cause a decline in used car prices in the coming year.

Revenues, expenses, and profit In 2022, USA Cars OÜ's sales revenue amounted to 8,942,727 euros, of which sales in Estonia accounted for 8.14% and sales in Poland 85.9%. The company's sales revenue increased 11 times compared to 2021, and the profit amounted to 443,631 euros. The company successfully continued to develop its business and the thoughtful activities of the sales department ensured that important customers did not disappear and cash flows remained at the necessary level.

The range of cars in 2022 has not changed significantly compared to previous years.

There is no noticeable seasonality or cyclical nature in the company's business activities.

The company's shareholders do not have an official dividend policy. The distribution of dividends is decided when the company has achieved a strong financial position, taking into account at the same time the growth ambitions of the shareholders and the desire to make a profit allocation. In 2022, the company paid dividends in the amount of 37,000 euros. The income tax cost of dividends paid out to shareholders was 9,119 euros.

The management has no doubt, USA Cars OÜ is capable of continuing as a going concern and in the course of normal business activities to realize its assets and fulfill its obligations.

Investments

During the reporting period, 8,136 euros were invested in tangible fixed assets. There are no plans for 2023