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's activity report 2022

Windak OÜ was established in 2004 and is part of the international Windak group. Other group companies operate in Sweden, Austria, Australia, and North America. Windak OÜ has been operating in Estonia for approximately 20 years, with the main activity being the design, assembly, testing, and installation of customer-specific cable packaging equipment. As an additional service, the company offers post-warranty maintenance and spare parts sales. To date, Windak OÜ has sold and installed over 400 devices in 35 different countries. The main market share is in North America, but in recent years the company has also expanded more vigorously to the European landscape.

In 2022, Windak OÜ's sales revenue was 11,582,936 EUR (2021: 8,944,285 EUR) and the sales revenue growth was 29.5% (2021: 65%). The main market is traditionally North America, which accounted for 75% of turnover, and sales to the European Union were 25%.

Due to the continuous need for automation of production processes in manufacturing companies, the demand for Windak OÜ products has grown year by year. Thanks to the market situation described above, the company has planned a sales volume growth of 30% for 2023 compared to the previous financial year.

In its daily business activities, Windak OÜ is constantly looking for ways to increase efficiency and therefore, if necessary, invests in investments if the investment is considered appropriate and justified.

Windak OÜ employs approximately 60 employees who cover all aspects of the production process from sales to global service.

The average number of employees in 2022 was 47 (2021: 42).

The wage fund together with social taxes was 1,682,092 EUR (2020: 1,407,514 EUR). No salary payments were made to the management and control bodies in 2022.

The key financial ratios of Windak OÜ were: 2022 2021

Short-term debt coverage ratio 1.5 1.6

Return on equity ROE 29.5% 34.7%

Net profitability of turnover 13.7% 16.2%

Debt ratio 1.74 1.48

Short-term debt coverage ratio = Current assets / Short-term liabilities

ROE = Net profit / Equity

Net profitability of turnover = Net profit / Sales revenue