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's activity report 2022

The main activity of AS Sokotel is the sale of hotel, conference and restaurant services in the Republic of Estonia.

In 2022, the company's turnover was 12,526 thousand euros (in 2021, 3,854 thousand euros), which is divided by areas of activity as follows: • Accommodation 7,940 thousand euros (in 2021, 2,415 thousand euros) • Catering and conference services 4,336 thousand euros (in 2021, 1,370 thousand euros) • Other sales 250 thousand euros (in 2021, 69 thousand euros)

AS Sokotel operates the Original Sokos Hotel Viru in Tallinn, which has a total of 516 rooms.

According to ERR data from February 2023, more than 3.5 million foreign tourists stayed in Estonian accommodation establishments in 2022, spending nearly 1.1 billion euros in Estonia. Compared to the pre-corona period, the number of foreign tourists is almost 40% lower.

Most foreign tourists came to Estonia from Finland, accounting for 42% of all foreign tourists. In addition, the number of tourists from Latvia (16%) and

Germany (6%) increased the most. The number of tourists from outside the European Union tripled in 2022, but their share remained only around 20% of all tourists visiting Estonia.

The average number of employees in 2022 was 76 employees (in 2021, 54 employees) and the total amount of wages and additional remuneration together with state taxes was 2,144 thousand euros (in 2021, 1,311 thousand euros). Board members were paid fees, including bonuses and other benefits, totaling 166.4 thousand euros (in 2021, 99.6 thousand euros). No remuneration has been paid to the members of the Supervisory Board.

During 2022, the voluntary reserve capital was increased by 2.5 million euros. The company has entered into a written agreement with the parent company, according to which the parent company is ready to provide additional financial support for the next 12 months.

Financial ratios 2022 2021

Liquidity ratio 2.14 5.38

Return on assets (ROA) % -94.2 -230.9

Return on equity (ROE) % -1.27 -3.0

Turnover growth % 225 -23.17

Profit growth % 45.5 -9.83

Net profitability % -31.2 -186.2

Ratio formulas

Liquidity ratio = current assets / short-term liabilities

Return on assets (ROA) = profit for the reporting year / average total assets for the year

Return on equity (ROE) = profit for the reporting year / average total equity for the year

Turnover growth % = (sales revenue 2022 - sales revenue 2021) / sales revenue 2021

Profit growth % = (net profit 2022 - net profit 2021) / net profit 2021