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's activity report 2022

The main activity of OÜ Metsagrupp is the purchase of forest properties, forest management and the sale of timber. Timber production takes place on properties owned by the company. The company also deals with the purchase and management of real estate (agricultural land) and agriculture.

Since 2021, also with the production of solar energy.

In 2022, OÜ Metsagrupp's sales revenue amounted to 9,758 thousand euros (in 2021, 6,911 thousand euros). Sales revenue increased by 41.1% compared to the previous year, due to the increase in wood and electricity prices. 50% (in 2021, 53%) of sales revenue was made up of timber sales.

OÜ Metsagrupp sells 100% of goods and services in Estonia. In 2022, a total of 75 thousand cubic meters of forest material was sold (in 2021, 65 thousand cubic meters). 100% of the total forest material was obtained from own logging. The company's net profit for the reporting year was 19,889 thousand euros.

OÜ Metsagrupp's business activity is environmentally friendly, in its forest management activities, the company follows the Forest Act in force in the Republic of Estonia, environmental standards and good practice in forest management. A good cooperation partner is TÜ Eesti Puidumüügikeskus, to jointly and profitably market the wood. The company's main activity is seasonal, with logging volumes decreasing significantly in spring and summer. Forest management depends heavily on the weather.

Depending on the weather conditions, the work is more or less intensive, but the process is continuous and the larger logging volumes are in the winter months. We use the services of companies and sole proprietors for planting forests and maintaining young stands. The basis for forestry activity is forest management plans prepared by licensed forest management companies for each property.

The company also has its own licensed forest appraiser and all employees are well versed in forestry and have long-term experience. All forest fund management takes place in the forest management software DESKISES, which allows to continuously view, plan and perform all data and work related to forest properties. The productivity of solar parks was good.

In the first quarter of 2022, Russia's attack on Ukraine had a sharp impact on the market.

The European Union imposed sanctions on the import of Russian goods into the European Union, thus limiting the inflow of capital into the aggressor country. The effects of the Russo-Ukrainian war on Metsagrupp OÜ were mainly reflected in the increase in the prices of goods and services purchased, while the energy crisis intensified by the war also accelerated the growth of forest material sales prices.

Risks related to changes in exchange rates, interest rates and stock prices

Transactions with customers and suppliers were in euros, so there was no exchange rate risk.

The interest on loans taken by the company is linked to the change in EURIBOR, so the risk arising from changes in interest rates is low.

Subsidiaries and associated companies

OÜ Metsagrupp has a subsidiary OÜ Mulgi Metsamajandus and three associated companies SW Metsatuul OÜ, Osaühing MGS Energia and Metsapäike OÜ. OÜ Mulgi Metsamajandus has a 60% stake and the company's main activity is forestry. The associated company SW Metsatuul OÜ has a 49% stake, the company develops wind parks on land. Associated company