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's activity report 2022

General Information

AS Linde Gas, formerly known as AS Eesti AGA, is part of the Linde Northern Europe region along with companies from Scandinavia and the Baltic States. AGA (Accumulated Gases Joint Stock Company) three letters have been known in the pages of Estonian history since 1908. In 1920, the then

Reval AGA representative office was established and in 1921 the subsidiary Eesti AGA, which was nationalized in 1940.

After a 50-year hiatus, AS Eesti AGA was re-established in 1991 and the company became the leading supplier of industrial and medical gases and gas equipment in Estonia.

Since 2000, the company has been part of the Linde Group, which produces medical and industrial gases, and in 2019.

merged with the US gas company Praxair. As a result, Linde became the world's largest gas and technology company, employing approximately 70,000 people and serving customers in more than 100 countries. In the merger of companies, the Nordic and Baltic countries switched to a new name in 2020 - Linde Gas and the brand name Linde was adopted.

The strong AGA brand remained in use as a brand for sparkling water products, liquefied gas and welding products.

Linde industrial gases are used in a wide range of fields, from life-saving oxygen in hospitals to high-purity specialty gases in the electronics industry. In Estonia, we market a wide range of industrial, food, medical and specialty gases and technical solutions for industrial use, as well as sparkling water products and liquefied gas for private consumers. Our largest customers are oil shale and chemical industry companies, processing and food industry and healthcare institutions.

Business

AS Linde Gas sales revenue decreased by 8% in 2022 compared to 2021, which was caused by a 19.2% decrease in exports, sales in Estonia increased by +12.8% compared to 2021.

year. The decline in exports was mainly due to decreased demand for private consumer carbon dioxide cylinders in the Nordic countries. The biggest growth driver for domestic sales growth was the growth in industrial customer turnover.

The Northern Europe Business Services Center is located in Estonia, which provides services to Scandinavia and the Baltic States. Digitization and automation have helped to make the Business Services Center's work more cost-effective. As of 31.12.2022, the Business Services Center employed 118 people (135 in 2021) and provided services for 5.7 million euros (5.4 million euros in 2021).

Key indicators and ratios

Financial indicators (thousand EUR) 2022 2021

Sales revenue 43 677 47 442

Sales revenue growth -8% -2%

Profit before 4 682 3 658 taxation

Profit growth 28% 128%

Net profitability 10.7% 6.5%

Short-term obligations 6.03 4.97 coverage ratio

Net asset profitability 15.5% 12.2%