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's activity report 2022

In the reporting year, AS Reyktal mainly focused on shrimp fishing in the North Atlantic Ocean. Sales revenue was 29.9 million euros, which is 34% higher compared to the previous year.

Operating profit (EBIT) was 3,762 thousand euros, which constitutes about 12.6% of sales revenue (last year it was 2.5%). Compared to the previous year, the profit has increased due to higher catch and the market's post-covid recovery.

No significant investments were made during the reporting year, and no investments are planned for the next year. The company has decided to cease the operation of the fishing vessel Dagö and plans to operate with 2 freezer trawlers in 2023.

The outlook for the shrimp market for cooked shrimp is positive, but the outlook for industrial shrimp is rather challenging, as prices have fallen compared to the previous year. The return of oil prices to a lower level than in 2022 is a positive counterbalance to the price decline.

The owners decided to pay 2.4 million in dividends. No remuneration was paid to the board members in 2022.

At the end of the reporting year, equity was 51 million euros, the debt ratio was 0.38, equity constituted 73% of liabilities.

Key consolidated financial ratios.

2022 2021

Sales revenue (thousand euros) 29 918 22 273

Equity (thousand euros) 50 787 49 229

Change in sales revenue 34% 26%

Change in equity 3% -3%

Liquidity ratios

Current ratio = current assets / 1.85 2.93 short-term liabilities

Quick ratio = Current assets - Inventories - 1.43 2.51

Prepayments / short-term liabilities

Cash ratio = cash / short-term 0.13 0.55 liabilities

Leverage ratios

Debt ratio = total liabilities / total liabilities 0.28 0.29

Debt-to-equity ratio = liabilities 0.38 0.42 / equity

Times interest revenue = operating profit 5.05 -0.86 / interest expenses