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's activity report 2022

Abbott Medical OÜ is a subsidiary of the American company Abbott Laboratories. The company was previously named St. Jude

Medical Estonia OÜ, it was established in September 2010 and this year was the company's 12th reporting year. Before that, the company was managed

from Finland.

The members of the company's council are:

Bradley Jay Slater, chairman of the board, a citizen of the United States;

John Arthur McCoy Jr., a citizen of the United States;

Marzena Dembek, a citizen of Poland.

The company's CEO and board member is Mika Mustonen and the company is audited by Ernst & Young Baltic AS.

Based on the profit report, the company's profit is 187,311 euros. The board proposes that the profit be transferred to retained earnings and no dividends are paid.

Abbott Medical has been operating in the Estonian market for 27 years. In 2010, the local sales company St. Jude Medical Estonia

OÜ took over the business activities from St. Jude Medical Finland Oy (Finnish unit, which provides customer service to the Estonian unit).

Since April 2020, the company CFS Poland has been supporting the finance and administration sector. In 2012, two employees were hired and in May 2012, an office was opened in Tallinn. In 2015, a third employee was hired and in 2017 a fourth. In 2018, one employee was transferred to Abbott Medical's Finnish representation, but he still supports business activities in Estonia. In 2022, a fourth employee was hired at Abbott

Medical Estonia. In 2022, the average number of employees was 4.

The company operates in the healthcare sector, offering a product portfolio that includes implantable cardioverter defibrillators, pacemakers, heart rhythm disorders, electrophysiology catheters, mapping and visualization devices, products for structural heart and vascular diseases, peripheral artery expansion devices and left ventricular assist devices for heart failure treatment. Business is based on procurement and contracts are 2-3 years. In the 2022 fiscal year, revenue grew by 17% compared to the 2021 result. In 2023, the company plans to achieve the sales targets set for that year.

In early 2018, the company started doing inventories itself. The local Abbott office does not have a local warehouse for storing inventory and therefore stocks are kept on a consignment basis in the customer's territory/warehouse, the company has assigned sales representatives to these warehouses. Previously, the owner of the inventory was the company SJM Coordination Center BVBA.

Events after the reporting date.

In the opinion of the board, the uncertainty caused by the war in Ukraine, high and volatile prices for electricity, transport and raw materials,

Sanctions imposed by Western countries on Russia and Belarus, high inflation and rising interest rates do not have an economic impact on the expanding group and the results of the upcoming year.

No other events occurred between the date of completion of the company's report.

2022 2021

Sales revenue 6 718 946 5 738 499

Net profit/loss 187 311 257 785

Net profitability 2.8% 4.5%

Short-term liabilities coverage ratio 3.4 2.4

Debt ratio 29.5% 41.8%

ROA 7.1% 8.9%

ROE 10.0% 15.3%

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

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

Debt ratio = liabilities / cost of assets * 100

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