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's activity report 2022

AS Konesko's main activities are the manufacture of electric motors and electrical components and mechanical subcontracting. The main sales markets are the European Union member states, the USA and China, where a large part of the products are sold through the long-term cooperation partner Konecranes Plc.

Main types of products manufactured: *electric motors *electrical cabinets and panels *bridge crane end carriages *control panels for bridge cranes *metal parts *power cables for bridge cranes In February 2022, Russia started a war in Ukraine, which had extensive effects on the global economy. Konesko's economic activity was directly affected by the extremely large price changes of various raw materials and the availability of various components and materials.

In 2022, turnover increased by 16.2% compared to the previous year and was 86.6 million euros; the balance sheet total changed by 4.6% and was 38.7 million euros at the end of 2022. The average number of employees decreased by 2.3%.

AS Konesko holds an ISO 9001 quality management system certificate, an ISO 45001 occupational health and safety management system certificate, and an ISO 14001 environmental management system certificate.

Investments included the use of equipment and other fixtures and tools worth 1.5 million euros. In 2023, there are plans to build a 950 kW solar park for the factories located in Koeru, which would provide energy security and reduce the effects on energy costs, which increased by 100% in 2023. The planned size of the investment is 0.6 million euros.

In 2022, due to high inflation, there was a lot of pressure on wage growth, labor costs increased by about 10%. The proportion of rented labor in the company decreased. Due to the effects of the war in Ukraine, there was a shortage of materials and components and problems with availability; due to problems with supply reliability, inventory volumes increased.

At the end of 2022, a fire occurred in the production unit located in Türi-Alliku, as a result of which the production building was damaged and a large amount of materials, components and semi-finished products were destroyed or became unusable. The initial estimated damage is 800 thousand euros.

Main financial ratios of AS Konesko: 2022 2021

Sales revenue (thousand euros) 86 559 74 475

Turnover growth (%) 16.2% 15.5%

Net profit (thousand euros) 3 028 2 639

Profit growth (%) 14.8% 23.1%

Net profitability (%) 3.5% 3.5%

Short-term obligations coverage ratio 2.0 2.1

ROA (%) 7.8% 7.1%

ROE (%) 12.5% 11.6%

Formulas used in calculating ratios:

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

Profit growth (%) = (net profit 2022 - net profit 2021) / net profit 2021 * 100

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

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

ROA (%) = net profit / total assets * 100