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's activity report 2022

Lasnamäe Centrum OÜ was established at the end of 2018 and its field of activity is renting out its own real estate and operation (code 68201). Lasnamäe Centrum OÜ belongs to a consolidation group, in which the consolidating unit is Osaühing Capfield (Lasnamäe Centrum OÜ parent company, registry code 14042628).

Based on the contract concluded on 28.02.2019, Lasnamäe Centrum OÜ acquired a shopping center located in Tallinn at Mustakivi tee 13 as a complete economic unit, which included built-up real estate and all related and serving things, rights, obligations and contracts, including lease and asset management contracts, construction guarantees, etc. The purchase transaction was largely financed by a loan received from the parent company Luminor Bank AS. The management of the shopping center began in March 2019.

The board of Lasnamäe Centrum OÜ consists of two members. No salaries were paid to the board members in 2022.

In 2022, development expenditures amounted to 83,036 euros, when the renovation and reconstruction of the center began.

The Estonian economy and real estate market face enormous geopolitical and economic challenges in the coming years. The green revolution and the security and energy crisis are changing the business environment, inflation is accelerating.

In 2022, the management of the shopping center will continue in difficult economic conditions. The board has assessed the company's operations as sustainable.

The most important financial ratios characterizing 2022 are as follows: 2022 2021

Coverage ratio of short-term liabilities 0.25 0.24

Net profitability (%) 17.77 76.29

Total asset profitability (%) 1.91 6.86

Equity profitability (%) 15.36 65.19

The methodology for calculating financial ratios is as follows:

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

Net profitability = net profit / sales revenue * 100

Total asset profitability (ROA) = net profit / total assets*100

Equity profitability (ROE) = net profit / equity*100