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's activity report 2022

Introduction

The main activity of AS ORU ÄRI is the retail and wholesale of summer and winter tires and their installation. We are the official representatives of Continental and Goodyear group tires in Estonia. We sell and install tires in Keila and Iru. The company's activity is characterized by strong seasonality.

Revenues, expenses, profit

The sales revenue of AS Oru Äri in 2022 was 7,323 thousand euros, which is 417.2 thousand euros more than in 2021. 94% of sales revenue came from tire sales, 5.7% from repair services, and 0.3% from other services.

The profit for the reporting year was 146.9 thousand euros.

Main ratios 2022.a. 2021.a.

Sales revenue (thousand euros) 7,323 6,906

Turnover growth % 6% 35%

Operating profit % 2.39% 2.57%

Net profit (thousand euros) 146.9 166.6

Net profitability % 2.0% 2.41%

Short-term obligations coverage ratio 2.17 3.61

ROE (return on equity) % 10.18% 12.1%

ROA (return on assets) % 5.75% 8.56%

Formulas used in calculating ratios:

Turnover growth % (sales revenue 2022-sales revenue 2021) / sales revenue 2021*100

Operating profit % (operating profit / sales revenue)*100

Net profitability % (net profit / sales revenue)*100

Short-term obligations coverage ratio (current assets / short-term obligations)

ROE % (net profit / total equity)*100

ROA % (net profit / total assets)*100

Staff

The average number of employees of AS Oru Äri during the financial year was 19 employees. The company's labor costs were 646.1 thousand euros, including the remuneration of the managing director with social taxes of 50.2 thousand euros.

Investments

During the reporting year, approximately 104.2 thousand euros were invested in fixed assets - the largest investment, approximately 48.4 thousand euros, was the expansion of the Keila tire workshop, which allows to double the volume of service work there. The capacity of the Iru tire warehouse was also increased by expanding the mezzanine and purchasing new warehouse shelves and containers. Smaller investments were made in transport vehicles and necessary equipment and tools.

Goals for the next financial years The goal for 2023 is to maintain our current market share, customers and staff in the midst of the ongoing economic downturn. We aim to increase the share of tires imported by AS

Oru Äri (especially truck tires) and the direct sale of passenger car tires to end consumers.