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's activity report 2022

Introduction

The main activity of the joint-stock company EBM Group is the reception, storage, bottling of edible oil into plastic containers and its further sale. In addition, the company deals with the processing and sale of imported edible oil.

Since 2012, the wholesale of edible oil has become the main activity of the company. Edible oil is mainly marketed in the Baltic countries, as well as

Finland and Sweden. We also export edible oil to various countries outside the European Union.

In 2022, AS EBM Group continued its traditional business activities and secured the market position achieved in previous years. In addition, steps were taken to increase market share in the field related to the sale of edible oils.

Revenues, expenses and profit in 2022, the net turnover of realization was 38 432 thousand EUR, including export 71.7%. The increase in net turnover of realization was influenced by world market prices for edible oils, which have been constantly growing in recent years.

0.7% of the total volume of realization was made up of turnover from bottling edible oil into containers, 6% - preparation of edible oil mixtures and further sale, 92.6% - turnover from wholesale of edible oil. Compared to 2021, the net turnover of realization increased by 42.5%.

The net profit of AS EBM Group for the reporting year amounted to 1429.3 thousand EUR.

General administrative expenses were 1303 thousand EUR (170 thousand EUR in 2021) and marketing expenses 870 thousand EUR (681 thousand EUR in 2021).

The increase in marketing expenses was mainly due to the growth in export volume. The increase in general administrative expenses is related to the formation of a reserve for unlikely receivables.

The company's depreciation of fixed assets in 2022 amounted to 195 thousand EUR, which is 10.5% less than in the previous year.

Main financial ratios 31.12.2021 31.12.2022

Net profitability, % (Net profit / sales revenue) 3.29 3.72

Short-term obligations coverage ratio (Current assets / short-term obligations) 1.92 3.15

Return on equity ROE, % (Net profit / equity * 100) 14.42 18.84

Return on assets ROA, % (Net profit / assets * 100) 8.46 13.83

Risk of changes in exchange rates and interest rates

Transactions with suppliers and customers take place in both euros and dollars. The company uses various financial instruments to hedge the risk of exchange rate changes. In the management's opinion, changing the dollar rate did not have a significant impact on the company's financial results.

Investments

During the reporting period, a total of 308 thousand EUR was invested in tangible fixed assets.

Other financial investments

As other financial investments, a 19% stake in the company SIA Ellas Grupa was recorded. As of 31.12.2022, the cost of the investment is 2 698 EUR.

The subsidiary OÜ Uniraf Oil (located in Estonia, 100% stake) had no activity during the reporting year.

Personnel

The average number of employees of AS EBM Group during the financial year was 24 employees. In 2022, the company's labor costs amounted to 741 thousand EUR, an increase of 9.96% over the year.

The management consists of 2 members, the council of 3 members. No payments were made to the members of the board and the council in 2022.