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's activity report 2022

Granarolo Baltics OÜ was established in November 2015. The main activity in 2022 was the wholesale of food and beverages. Granarolo

Baltics OÜ is a subsidiary and representative of the Italian food industry giant Granarolo International in Estonia and other Baltic countries.

In 2022, Granarolo OÜ's sales revenue from its main activity - wholesale of food and beverages - was 10,210,167 EUR (2021: 8,395,011

EUR )

The net profit of Granarolo Baltics OÜ amounted to 782,723 EUR. ( 2021: 607,430 EUR)

The average number of employees during the financial year was 13 employees.

Key ratios of economic activity: 31.12.2022 31.12.2021

Short-term obligation payment ratio: current assets/short-term obligations 1.74 2.07

Liquidity ratio: (current assets-inventory) /short-term obligations 1.50 1.73

Turnover profitability: profit(-loss) / sales revenue 7.67 % 7.24 %

Debt ratio: obligations / equity 1.15 0.79

ROA : net profit / assets 17.4 % 18.7 %

ROE : net profit / equity 37.4 % 33.5 %

EBITA : profit before interest, taxes and depreciation 953,162 EUR 771,400 EUR

Goals for the next financial year

The main goal of Granarolo Baltics OÜ for the next financial year is to continue profitable operations and to promote the Granarolo brand and products in Estonia and elsewhere in the Baltics, and to increase the company's turnover and market share in Estonia, the Baltics and outside the European Union.

The overall macroeconomic development of Granarolo Baltics OÜ's operating environment does not have a significant impact on financial results.

Granarolo Baltics OÜ's business is not affected by seasonality or economic cyclicality.

The environmental and social impacts associated with Granarolo Baltics OÜ's operations are minimal.

Granarolo Baltics OÜ has no or low risks associated with changes in exchange rates, interest rates and stock prices.

Economic transactions are carried out in Euros and there are no financial obligations.