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's activity report 2022

The Estonian Beef Producers Cooperative is a commercial cooperative and was established on 13.05.2015. The aim of the cooperative is to support and promote the economic interests of its members through joint economic activity in which members participate as beef producers. The cooperative organizes the joint marketing of agricultural products (beef cattle) produced by its members. As of 31.12.2022, the Estonian Beef Producers Cooperative had 26 members who breed the most common beef breeds in Estonia (hereford, angus, simmental, limousin, aquitaine blonde, sharolee and their crosses). On average, the size of the members' herd was 200 beef cattle. In total, about 5000 animals grow in the members' herds. The number of members has been stable in the last year, but in the future, there is a possibility that we will include new members.

During the period 01.01.2022-31.12.2022, the commercial cooperative's sales revenue was 5,074,016, which was 1.5 times higher than in 2021. The number of animals brokered also increased compared to 2021. Over 70% of sales revenue was made up of live animal sales to export markets, which increased compared to 2021. The main part of the sales was made up of fattening bull sales. The cooperative was in loss in 2022 -39,699 euros.

The main reason for the loss is the incorrect estimation of the costs of animal brokerage. Since 2022, we have been sending animals to third countries, which involved quarantine-related expenses for animal veterinary procedures and maintenance. The expenses were higher than initially calculated. Conclusions have been drawn from this and purchase prices have been adjusted. The overall financial situation is monitored continuously.

2022 is characterized by the growth of live cattle prices and increased demand in Europe. In 2023, the commercial cooperative will continue in the same field of activity.

We will invest more in building and maintaining customer relationships to secure a place in the sector. Also, animal welfare, farm development, and innovative IT developments remain important. The goal is to find new partners to further increase sales volumes. We are working to ensure that the cooperative has enough economic activities even off-season. In the following years, we will continue to develop the cooperative and find new customers. As of the end of 2022, there was 1 board member and 7 employees on the payroll. The total labor cost was 144,410 euros.

Key financial indicators in 2022 2022 2021

Sales revenue 5,074,016 3,370,332

Operating profit -28,159 35,676

Net profit -39,699 23,474

Short-term liability payment ability 0.67 0.96 (current assets/short-term liabilities)

Liquidity ratio (current assets-inventory/short-term liabilities) 0.37 0.63

Debt ratio (total liabilities/total assets) 0.86 0.83

Equity ratio 0.14 0.17 (equity/total assets)