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's activity report 2022

VG Estonia OÜ is part of the Vincent Group Ltd group. Vincent Group Ltd is a management company registered in Malta, which mainly invests in companies related to remote gambling services. VG Estonia

OÜ has a supportive function, providing support services to other Vincent Group companies.

The main services provided in the 2022 fiscal year were: (cid:127) legal assistance (cid:127) accounting (cid:127) software development (cid:127) IT support services (cid:127) player customer support and fraud prevention (cid:127) risk management and creation of sports betting odds.

Our employees

In 2022, the number of employees increased by 143 and by the end of the year, VG Estonia OÜ had a total of 310 employees.

In 2023, there are plans to increase the volume of support services and accordingly the number of employees.

Investments

During the fiscal year, the company has invested in new offices, located in Porto Franco. The move to the new office space is planned for the summer of 2023.

Main risks

The company's management, who have extensive experience in managing and developing similar companies, play a significant role in managing business risks.

The company is threatened by the following financial risks: liquidity risk, currency risk, and interest rate risk.

Liquidity risk - the management regularly monitors cash balances to ensure the availability of sufficient cash reserves for timely fulfillment of obligations.

To hedge currency risk, transactions with customers are settled in the same currency in which the customer started the transaction. In addition, the company's management monitors exchange rate fluctuations and responds accordingly.

Interest rate risk is low because the company does not use borrowed capital to expand its operations.

The company's main financial indicators: (in euros) 01.02.2022-31.12.2022 01.01.2021-31.12.2021

Sales revenue 14 283 850 8 286 405

Short-term debt coverage ratio 3.39 3.13

Calculation methodology:1

Short-term debt coverage ratio = current assets / short-term liabilities