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's activity report 2022

Estonian Concert in 2022. The year 2022 was post-COVID-19 pandemic and a year with a very turbulent foreign policy and macroeconomic environment. The economic activities of the Estonian Concert were significantly influenced by the cultural consumption that was still seeking stability after the corona crisis and was strongly fluctuating, the war in Russia

against Ukraine and an extremely unstable, hyperinflationary macroeconomic environment.

Until mid-2022, the market for cultural events was noticeably declining after two epidemic years, the purchasing behavior of the audience was influenced by both the continued spread of the virus and the uncertain and unpredictable economic and security situation. The audience's attendance at cultural events recovered slowly and purchase decisions were made at the last minute just before the concert took place.

The market for cultural events picked up in the last quarter of the year, only in December was the occupancy of the halls comparable to the pre-pandemic period.

The war in Russia against Ukraine most affected the activities of the Estonian Concert in the St. John's Church in St. Petersburg.

We were forced to suspend concert activities, but at the same time continue to fulfill administrative obligations in a situation where due to European Union sanctions, payments could no longer be made to subjects of the Russian Federation. Essentially, the Estonian Concert lost the opportunity to operate in one of its five concert halls and a significant part of ticket and rental income.

We operated throughout 2022 in hyperinflationary macroeconomic conditions (THI was 19.4% in 2022). The change in the price of energy carriers, which increased the administrative costs of the four buildings managed in Estonia by the Estonian Concert by more than 260 thousand euros compared to the previous year, had the greatest impact on our economic activities

Despite the difficult circumstances, the Estonian Concert earned more revenue than planned in 2022 as a result of skillful management (planned: 8,682 thousand euros; actual: 8,749 thousand euros) and the result of the main activity before depreciation was 257 thousand euros larger than planned (planned: 184 thousand euros; actual: 441 thousand euros). In 2022, the financial result of the Estonian Concert was -13 thousand euros (planned: -420 thousand euros). Cash flows during 2022 were positive, we maintained and further strengthened the financial position of the institution.

Concert activity statistics 2022 2022 2021

Concerts Listeners Concerts Listeners

Concerts in Tallinn 268 56 247 132 24 661

Concerts in Tartu 98 19 403 43 7 854

Concerts in Pärnu 50 11 343 31 5 377

Concerts in Jõhvi 21 2 091 23 2 376

Concerts elsewhere 350 75 142 182 42 181

in Estonia

Concerts abroad 14 6 020 80 9 824

TOTAL 801 170 246 497 92 267