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's activity report 2022

Introduction In 2022, OÜ WEISS continued its traditional business activities. The main activity of OÜ Weiss is dairy farming. In 2022, the main herd of OÜ Weiss increased by 34 animals.

Revenues, expenses and profit In 2022, OÜ WEISS's sales revenue amounted to 8.075 million euros. 92% of sales revenue came from production and 8% from services.

100% of OÜ WEISS's sales revenue came from sales in Estonia

OÜ WEISS's gross profit amounted to 2,238,740 euros. The company's depreciation of fixed assets in 2022 amounted to 662,616 euros.

Main financial ratios 2021 2022

Sales revenue (thousand euros) 6114 8075

Turnover growth 19% 32%

Gross profit margin % 19.7% 27.7%

Net profit (thousand euros) 1204 2238

Short-term obligations coverage ratio 1.01 0.89

ROA 7.19% 11.49%

ROE 14.78% 22.18%

Formulas used in calculating ratios: (cid:127) Turnover growth (%) = (sales revenue 2022 - sales revenue 2021)/ sales revenue 2021 * 100 (cid:127) Gross profit margin (%) = gross profit/sales revenue * 100 (cid:127) Short-term obligations coverage ratio (times) = current assets/short-term obligations (cid:127) ROA (%) = net profit/ total assets * 100 (cid:127) ROE (%) = net profit/ total equity * 100

Investments

During the reporting period, land was purchased for 27,000 euros and tangible fixed assets for 1,633,832 euros, of which SEB leasing was used for a total of 1,544,360 euros for PV acquisition.

In 2020, the reconstruction of the calving barn and the construction of silos were started, the total cost of which is approximately 1 million euros. In total, in 2022, the construction of silos was completed and recorded in the amount of 771,215 and the existing calf barn was improved for a total of 113,851 euros.

Staff

The average number of employees of OÜ WEISS during the financial year was 63 employees. In 2022, the company's labor costs amounted to approximately 1836 thousand euros. No separate remuneration was paid to the company's board.

Goals for the next financial year

The main goal of OÜ WEISS for the next financial year is to continue the company's main activity of milk production. According to the company's expectations, production volume will be increased in 2023.

By the end of the 2022 financial year, OÜ Weiss has short-term and long-term obligations totaling 9399 thousand euros. Loans and leases to credit institutions are covered by fixed assets. In 2022, it is planned to extend the crop loan in the amount of 500 thousand euros. The investment loan in the amount of 1,184,466 euros will also be extended. The board is confident, based on its long-term experience, that it will be able to meet the remaining obligations in the course of its main activity.