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's activity report 2022

The first entry for Hea Apteek OÜ was made in the Commercial Register on February 25, 2020. The main activity of the company is the operation of pharmacies (code 47731 of the Estonian economic activity classifier).

As of the end of the reporting year, Hea Apteek OÜ has 3 pharmacies in Tallinn and 1 in Paide.

In the 2022 financial year, the company's sales revenue was 9,541.5 thousand EUR and EBITDA or profit before depreciation and financial and tax expenses was -85.2 thousand EUR (data for the 2021 financial year was 8,813.6 thousand EUR and 61.6 thousand EUR respectively).

During the reporting year, regular economic activity took place. One pharmacy in the Hea Apteek OÜ group worked with the Tallinn City Government to organize the issuance of necessary medicines, including prescription drugs, to Ukrainian refugees who fled the Russian invasion that began on 24.02.2022. The Russian attack on Ukraine also affected sales growth. The active aid sent to the Ukrainian war zone in February and March caused a sharp increase in the first aid product group.

In 2023, the plan is to continue operations in the same field and provide high-level pharmacy services to our customers.

Financial indicators * 2022 2021

EBITDA, thousand EUR -85.2 61.6

EBITDA margin, % -0.9% 0.7%

Net profit margin, % -0.8% 0.8%

Asset productivity, % -4.0% 3.8%

Short-term obligations coverage ratio 0.8 0.8

Working capital, thousand EUR -341.5 -263.4

Equity ratio, % 0.4% 4.8% *Used formulas:

EBITDA = Operating profit before depreciation

EBITDA margin = Operating profit before depreciation / Sales revenue

Net profit margin = Net profit / Sales revenue

Asset productivity = Net profit / Assets

Short-term obligations coverage ratio = Current assets / Short-term obligations

Working capital = Current assets - Short-term obligations

Equity ratio = Equity / Total assets