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's activity report 2022

Rakvere Metsamajand OÜ continued its main activity in 2022, namely the production of wooden summer houses, garden houses, saunas.

The first half of the year is still characterized by high demand and very high raw material (wood) purchase prices and its deficit.

Due to the difficulty in obtaining wood, we purchased a large amount of raw material at a very high price.

From July, the demand for products dropped sharply and the selling price of products also started to fall.

Generally, the second half of the year was very difficult as the volume of orders dropped sharply and much due to general economic uncertainty in all our main markets.

At the same time, there was still a very high-priced raw material in stock, which was used for the production of products with significantly reduced selling prices. By the end of the year, it was possible to essentially use up the expensive raw material warehouse, but this also had a significant impact on the profitability of the year.

The same activity will continue in the next financial year. No major investment plans have been made and the stabilization of markets and supply chains is awaited to make future investment plans.

The sales revenue for 2022 was 15,042,033 euros. The financial result for 2022 was a profit of 480,558 euros.

The main financial ratios were: 31.12.2022 31. 12.2021

Business profitability (operating profit / sales revenue) % 3 % 9 %

Net profitability (net profit / sales revenue) % 3 % 9 %

Return on equity (net profit / total equity) % 13 % 56 %

Total asset profitability (net profit / total assets) % 9 % 30 %

Liquidity ratio (current assets / short-term liabilities) 2.58 1.8

Asset turnover ratio (sales revenue / assets) 3.06 3.56

The average number of employees in 2022 was 81 and the total salary of employees was 1,862,671 euros.

The board member was paid a salary of 23,340 euros in 2022. No fee was paid for being a member.