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Strategic decision: We do not want to increase the customer base
Board member Karl Daniel Lukas Ridderlind (11.01.2024): "We focus only on high-quality service and maintaining relationships with existing customers. There are no plans to increase the customer base."

's activity report 2022

Amphenol ConneXus was established in 1996. The sole owner of the company is Amphenol International Ltd, which is owned by the New York Stock Exchange company

Amphenol Corporation. Within the corporation's internal division, Amphenol Connexus OÜ belongs to a group led by Amphenol Connexus AB in Sweden.

Karl Ridderlind, a board member and CEO of Amphenol Connexus AB, is also a member of the board of Amphenol Connexus OÜ. Amphenol Connexus AB and

Amphenol Connexus OÜ are essentially affiliated companies, where Amphenol Connexus AB is primarily focused on sales activities, Amphenol Connexus OÜ on engineering tasks, customer service, production preparation and implementation, production and related support processes. Amphenol Connexus AB also manufactures in North Macedonia and India. In the past fiscal year, cooperation continued with Amphenol ConneXus AB, to whom Amphenol ConneXus OÜ provides subcontracting services. The company's business is the production of electronic products (cables).

In 2022, turnover fell by 8%, due to a decrease in market demand compared to 2021. In 2022, the average number of employees was 314 (355 in 2021). The number of employees decreased due to a decrease in production volume. Amphenol ConneXus pays a fee to one board member.

In 2022, the board member's fee was 94,468 euros (72,445 euros in 2021). The decrease in production volume is related to the continued decrease in the share of production services, which is due to a decrease in competitiveness caused by the growth of labor costs. The Narva production unit will be closed on 30.06.2023. Production will be transferred to North Macedonia. Due to the closure of the production unit in 2023, business volume will decrease by about 36%. Instead of production activities, more focus will be placed on value-added engineering activities and

technical support for the North Macedonian factory. As a result of the closure of the production unit, 143 people will be laid off. In March 2023, the layoff notice was sent to employees and the Estonian Unemployment Insurance Fund. The criteria necessary for recording compensation were met in 2023.

Narva production premises are rented. The termination of the lease does not result in penalties for the Company according to the lease agreement. There are also no penalties from suppliers with whom raw material contracts are in force, as the Tallinn unit continues its work. Machines and equipment used in Narva production are reflected in the accounting of the affiliated company Amphenol ConneXus AB. Stocks have been used up by the time of the closure of the Narva production unit and no new raw materials will be purchased. The remaining stocks will be used in the Tallinn production unit. In summary, the decrease in production volume in 2023 due to the closure of the Narva production unit does not cause write-downs of Amphenol ConneXus OÜ assets.

The impact of the war in Ukraine on the company's operations is low, limited to general inflation effects. The company's board assesses financial risks as low.

The company has no loans and due to the stable financial situation of the company and the customer Amphenol ConneXus AB owner Amphenol Corporation, the risk that the customer will not fulfill its obligation is non-existent.

Financial indicators, in euros 2022 2021

Current assets 4,445,378 4,132,105

Short-term liabilities 711,495 820,756

Equity 4,274,484 3,933,958

Net profit 340,526 374,999

Sales revenue 7,285,770 7,899,682

Operating profit 340,526 374,999

Financial ratios 2022 2021

Short-term debt coverage ratio, times 6.2 5.03

Equity indebtedness, % 17 % 21 %

Net profit margin, % 5 % 5 %

Operating profit margin, % 5 % 5 %

Return on equity (ROE), % 8 % 10 %

Return on total assets (ROA), % 7 % 8 %

Formulas for calculating ratios:

Short-term debt coverage ratio = Current assets / Short-term liabilities

Equity indebtedness = Liabilities / Equity

Net profit margin = Net profit / Sales revenue

Operating profit margin = Operating profit / Sales revenue

Return on equity = Net profit / Equity

Return on total assets = Net profit / Total assets

Karl Ridderlind

Board member

Marko Simulman

Board member