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's activity report 2022

Introduction

AS Remeksi Keskus was established in 1994 on the basis of the repair and mechanics workshop of the Oil Shale Chemical Production Association. Initially, the company mainly dealt with the industrial and chemical equipment repair and maintenance of TK Oil Shale Chemistry (hereinafter Nitrofert AS,

VKG AS) workshops. Over a long period of time, experience in the production of metal structures and industrial equipment also accumulated, which is still the main activity of the company. Since 2000, AS Remeksi Keskus has actively started to develop the production of various metal structures. At the end of 2019, the company's business name was changed. The new business name became AS

AXIS Tech Estonia.

General development of activities Due to the drastic rise in metal prices and supply and logistics problems caused by the Russian-Ukrainian war that started on 24.02.2022, the company's management decided to suspend production activities and started selling the company's assets.

In 2022, the company completed its major projects: the manufacture of a port crane for IBAU

HAMBURG Ingenieurgesellschaft Industriebau GmbH, installation of EnerDry AS dryer, manufacture of metal structures for Axioma Servisas UAB support reactor. No new major projects were taken into production. From June, we carried out a massive gradual reduction of employees.

The company's Lithuanian branch is reducing its activities, the Ukrainian representative has completely stopped its activities, control

Over the Russian branch has been lost and its result has been eliminated in the report.

Revenues, expenses and profit

AS Axis Tech Estonia's sales revenue in 2022 amounted to 13.9 (2021: 18.9) million euros, which is 26% less than in 2021. 28% (2021: 6%) of sales revenue was realized in Estonia, 72% (2021: 94%) in foreign markets. The largest sales revenue foreign country was Lithuania 5.0 (2021: 3.6) million euros France 1.8 (2021: 0) million euros.

AS Axis Tech Estonia's loss for the reporting year amounted to 0.24 (2021: loss 15.07) million euros.

The cost of materials and services for the reporting year reached 12 (2021: 23.2) million euros.

Main financial ratios

In euros 2022 2021

Sales revenue 13 946 611 18 864 833

Sales revenue growth % -26 51

Operating profit amount % 2.3 -78

Net profit -242 439 -15 072 262

Net profitability % -1.7 -80

Short-term obligation coverage ratio 0.2 0.3

ROA % -9.6 -159

ROE % 1.4 89

Formulas used in the calculation of ratios: 1. Sales revenue growth (%) = (sales revenue 2021 - sales revenue 2020) / sales revenue 2020*100%