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's activity report 2022

The main activity of AS Tartu Agro is the production of milk, meat and grain (EMTAK code 01501). The total sales revenue in the production year 2022 was 9.56 million euros, which is 27.3% higher than in 2021.

The agricultural sector had a generally good year in 2022. Grain yields were very good and prices were also good when sold wisely. In crop production, selling prices were higher than input prices.

The purchase price of milk was very good, the average price increased by 26% compared to the beginning of the year.

Due to the Russian-Ukrainian war, prices rose significantly for both fuel and fertilizers, the impact of both is also felt by AS Tartu Agro.

The dairy sector has been and is decisive in the economy, 69.1% of total sales revenue or 6.6 million euros was revenue from milk sales. The total production of milk sold decreased by 5.8% or 855 tons compared to the previous year, but the purchase price of milk increased significantly over the same period. The purchase price of milk in 2022 was on average 476 euros per ton, in 2021 it was 322 euros per ton, which is 47.8% higher compared to 2021. The decrease in total milk production was partly caused by a 2.8% (36 cows) decrease in the number of dairy cows compared to normal years (1300 dairy cows). A greater impact on the decline in total production came from the reconstruction work carried out in dairy farms, which was made possible by the rise in the milk selling price over many years. Extending the milking parlor from 20 to 28 milking places in Rahinge farm resulted in the transfer of milking rounds from three to two and the work disrupted the entire operation of the dairy farm. Despite a partial decline in milk production levels last year, the better analysis of farm animal husbandry specialists in ensuring the profitability of milk production cannot be overlooked, with the ultimate goal of increasing the profitability of milk production.

Cheap, standard feed ration reduced the total milk production by a few percent, but the profit after milk sales increased more than four times compared to the previous year and the cost price of milk, 309 euros per ton, allows production to continue in case of a drop in milk prices.

Milk production per cow was 11791 kg in 2022 according to performance control data, compared to 12356 kg in 2021.

In 2023, the price of milk has dropped by almost 22% from 530 to 415 by May, but we hope that the average price for the year will be between 430 and 440.

Beef production decreased by 12.1% in the production year from 562 tons to 494 tons. The decision made two years ago to stop raising bull calves born on the farm for fattening (live weight approx. 550 kg). As a result, the volume of beef sales in live weight will be around 400 tons per year in the coming years. The number of bull calves sold with an average live weight of 50 kg increased to 514 in 2022 (335 in 2021). The average selling price of a bull calf, 73 euros per head, is not profitable, but it eliminates significant losses in raising bull calves to fattening. Due to the increased realization of bull calves, the number of young cattle also decreased by 253 heads by the end of the production year, from 1459 to 1206. So far, the number of calves born in two cattle farms during different production years has been stable at around 1200 heads, the increase in the number of cows in Rahinge farm has been hindered for years by the final construction of the dairy farm dependent on the financial situation, the so-called half barn at the southern end of the milking parlor has remained unfinished. Selling bull calves as calves, a generally better financial situation in the farm and also the expected investment support should allow the addition to be made in the near future without a bank loan.

AS Tartu Agro's investments in 2022 in the purchase of fixed assets and construction from own resources amounted to 1.996 million euros. This was made possible thanks to the rapid rise in the milk selling price during the financial year (47.8%) compared to the rise in the cost price of milk over the same period (8%) thanks to cheap milk production input prices. Maintaining such profitability is not possible in the future. In 2023, we will continue to invest in young cattle barns if the average milk purchase price allows it.

2022 was a favorable year for crop production in terms of weather. The total grain yield in dry weight in 2022 was 8368 tons with a yield of 6.0 tons per hectare.

The corresponding indicators a year ago were 7133 tons and 4.66 tons per hectare. Overall, the results of the crop production year have ensured the availability of a feed base for cattle even for dry periods and also the storage of sales articles (rapeseed, sold seed grains, silage) in stock.

As of today, it seems that the crop yield in 2023 will be about 20% lower than last year due to the spring cold period and lack of precipitation.

In 2023, we will continue in cattle and crop production at the same volumes. We will also try to find ways to save production costs in the future.

We comply with environmental requirements set out in the complex permits issued by the Environmental Board. There are many factors in agricultural production that have environmental impacts. AS Tartu Agro complies with all environmental requirements in both crop and animal production. In the near future, some updates are planned in relation to the handling of silage storage precipitation water in order to reduce the entry of pollutants into the environment. In 2022, we also reconstructed the manure storage for the same reason, diverting rainwater elsewhere.

The average number of employees of AS Tartu Agro in 2022 was 120 people and the total amount of salaries with taxes was 2.83 million euros.

The board of AS Tartu Agro consists of 1 member and the council consists of 3 members. The salary cost of the board member with social tax was 33500 euros in 2022.

No remuneration was paid to the members of the council.

AS Tartu Agro provides work for a large number of people, including Ukrainians, offering them a place to live in addition to a job.