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's activity report 2022

The partnership Laanetagune was established in 1998. The main activity of the company has been forestry services. The partnership has long-term work experience, skilled workers and proper machines for performing forestry work. We have worked in Sweden, France,

Poland, Germany.

Economic environment and its influences

Last year, Estonia's GDP decreased at constant prices. According to economists, inflation is slowing down, unemployment is slightly increasing, but wage growth remains strong. Moderate economic growth and normalization of price growth are forecasted for next year. 2022 was characterized by rapid price increases and a deterioration in the economic cycle. Rapid inflation and tightening financing conditions reduced spending and production, reducing households' purchasing power and increasing companies' costs. However, inflation, which reached 17.6% in December 2022, had been declining for several months and could reach modest numbers by the end of 2023. According to the IMF's recent assessment, a third of the world economy is expected to decline in 2023. In summary, the Estonian economy is facing a difficult year, but the stabilization of interest rates and the world economy could also bring about a surprisingly rapid recovery

Risks associated with changes in exchange rates and interest rates In 2022, settlements with customers and suppliers were mainly in euros and to a lesser extent in Swedish kronor. The exchange rate risk was increased by

Services settled in Swedish kronor. The interest on loans taken by the company is linked to the change in EURIBOR, so the risk from changes in interest rates is low.

Partnership's economic activity in 2022

The partnership's sales revenue was mainly from forestry services during the financial year, as in previous years. Logging services were provided for 4.9 million euros in 2022 and 3.5 million euros in 2021. Logging accounted for 97% of total sales revenue in the reporting year, 98% in the previous year. 97% of sales revenue came from work done in Germany, 92% in the previous year. The reporting year ended with a profit.

During the reporting year, 1.1 million euros were invested, of which 0.9 million euros in forestry technology. In 2021, 0.48 million was invested, mainly in logging technology.

No changes occurred in the company's management.

Objectives and estimates

OÜ Laanetagune does not intend to make significant changes in its operations in the next financial year. The plan for 2023 is to continue with forestry work.

We are aware of the difficult situation in the economy and have analyzed its impact on the company's economic activity and found that it does not have a significant impact on our field of activity.

Despite the difficult situation in the economy, the management believes that the continuity of the company's operations is certain.