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's activity report 2022

AS Grüne Fee Eesti was established in 1993 as a joint venture between Estonia and Finland. The main activity of the joint-stock company is vegetable cultivation in greenhouses. The most important crops are cucumber, frillice lettuce and leaf lettuce.

The company's turnover reached 11.2 million euros in 2022. Finished goods were exported for 1.8 million euros during the reporting period. The share of exports in total sales was 16.6%.

The most important investment of the reporting year was the partial replacement of lighting in cucumber greenhouses and the improvement and supplementation of the heat energy distribution network. A total of 564 thousand euros was invested during the reporting year.

The average number of employees for the year was 112. The cost of salaries, including social tax, was 2.96 million euros. The remuneration calculated for the member of the board of the joint-stock company was 289 thousand euros. The work of the members of the council was not remunerated.

The company's business activity is not seasonal and the company's activities do not have significant environmental and social impacts.

In the upcoming reporting period, we will continue our mission to make consumers' eating habits healthier, being ready again to increase the product range and cultivation area.

The company's production takes place all year round, therefore there is no seasonality or cyclicality in economic activity. The company's activities do not have significant environmental and social impacts.

Main financial ratios of the company: 2022 2021

Sales revenue (thousand euros) 11 279 10 797

Operating profitability (%) = operating profit / sales revenue * 100 14.47% 19.95%

Debt ratio = liabilities / equity 0.18 0.15

Short-term solvency ratio = current assets / short-term liabilities 3.03 3.65