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's activity report 2022

CarVertical OÜ was established on 26.01.2018. The main activity of CarVertical OÜ is the collection of IT data, which is used in the automotive industry.

The company uses technology and collects as much data as possible about different used cars, combining this data and creating new different products that marketers can sell in b2b and b2c segments. Technology is used to protect vehicle buyers from fraud.

In the future, the company intends to work in the same business area. The reporting period begins on 01.01.2022 and ends on 31.12.2022.

No investments were made during the reporting year.

The company has one board member.

In 2022, payments were made to the board (for work and for the use of the trademark).

CarVertical OÜ ended 2022 with a loss of 452 061 EUR (the year 2021 ended with a loss of 290 309 EUR).

In 2022, the sales revenue was 5 002 472 EUR (in 2021 it was 4 250 287 EUR).

During the reporting period, there were no significant events that could affect the results of the following fiscal years.

In 2023, the company will continue its business activities.

In 2023, a subsidiary was established in the UK.

Main financial ratios of carVertical OÜ: 2022 2021

Sales revenue 5 002 472 4 250 287

Net profit(-loss) -452 061 -290 309

Current assets 493 583 920 638

Short-term liabilities 381 350 356 344

Assets 493 668 920 723

Equity 112 318 564 379

Net profitability (%) -9,04% -6,83%

Coverage ratio of short-term liabilities (times) 1,29 2,58

ROA (%) -91,57% -31,53%

ROE (%) -402,48% -51,44%

Net profitability (%) = ((net profit(-loss)/sales revenue) x 100)

Coverage ratio of short-term liabilities (times) = current assets/short-term liabilities

ROA (%) = ((net profit(-loss)/assets) x 100)

ROE (%) = ((net profit(-loss)/equity) x 100) The losses in 2021 and 2022 were not accidental. The reasons were as follows:

Significant acquisitions of vehicle data sets and advertising campaigns on television and radio to increase brand awareness in the market.

These are the two main reasons for the losses over the years. In 2023, the profit margin was increased. If there are no force majeure circumstances in the last quarter of 2023, then 2023 will close with a profit.

In 2024, the company plans to change its transfer pricing policy with its main client, which will increase profitability. According to forecasts, 2024 should cover a significant part of previous investments.