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's activity report 2022

OÜ Trimtex Baltic began operations in September 2008, with the main activity being the production of sportswear for export to both the European Union and outside. Trimtex Baltic OÜ procures the necessary materials for production, deals with product development and production preparation. Cutting and sublimation printing take place in the production department. Sewing work is outsourced. The finished products are packaged and exported.

They are developing warehouse and logistics services to get goods to customers faster and are also involved in online sales.

In recent years, the company's sales volumes have fallen due to the Covid pandemic and the general economic downturn. As of today, customers have remained and even more have come, but the order quantities for each product model have remained smaller than in 2019. To increase market share, the Trimtex board has decided to offer products to Germany and triathlon clothing worldwide. In this regard, it is planned to invest in digital solutions to make the customer journey smoother and faster. At the beginning of 2023, Trimtex won the Swedish army's sportswear public procurement, which ensures stability in sales volumes for the coming years.

In 2022, they invested in and implemented their own small sewing line, where special equipment was selected for the production of triathlon clothing. In addition, product samples are sewn in the new line and customers are offered product repair services to extend the product's lifespan.

In 2022, they designed and implemented a building automation system, which allows the entire house's energy use to be controlled in the same system and the goal is to save energy.

In 2022, transport and energy costs were significantly higher than budgeted. The global transport system is stabilizing and at the beginning of 2023, transport costs are lower than a year ago. To reduce energy costs, the company invested in a building automation system. In addition, from the beginning of 2023, the company started using green energy with a new electricity contract.

The parent company has joined the Ethical Trade Norge organization and, together with the use of certified management standards by Trimtex Baltic OÜ (ISO 9001:2015, ISO 14001:2015, ISO 45001:2018), the company continues its sustainable business activities. An important place is given to the assessment of environmental and social impact and risk analysis to improve the situation. The company joined the Responsible Business Forum (VEF) in 2022 with the aim of learning more and integrating the principles and objectives of responsible business (CSR- Corporate Social Responsibility) and UN Sustainable Development (SDG-Sustainable Development Goals) into the existing Trimtex Baltic management system. In 2023, the company's SDG goals and KPI system are outlined:

The key themes of social goals are - ethical practices, fair treatment and equal opportunities; Employee health, safety and well-being;

Training and development opportunities and family-friendliness; Support for community activities; Code of conduct in the supply chain.

The key activities of environmental goals are - Waste and hazardous materials management; Energy efficiency and CO2 emissions; Use of recycled materials in product manufacturing.

The key themes of economic and management goals are - Economic results; Efficient processes; Anti-corruption behavior.

In 2023, Trimtex Baltic OÜ will continue its business activities according to the set goals and investment plan.

The sales revenue for the reporting year was 7,804,431 euros (sales revenue in 2021 was 8,053,756 euros). The reporting year ended with a profit of 313,944 euros (in 2021 it was 672,864 euros).

Main financial ratios: 2021 2022

Net profitability (%) 8.35% 4.02%

Short-term obligations coverage ratio 2.12 5.57 (times)

ROA (%) 6.85% 4.59%

Solvency ratio 1.60 2.33

Formulas used in the calculation of ratios:

Net profitability % = reporting year profit / sales revenue * 100

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

ROA % = reporting year profit / total assets * 100

Solvency ratio (times) = (current assets - inventories) / short-term obligations