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's activity report 2022

Introduction

AllePal OÜ (hereinafter the company) specializes in managing online portals for buying, selling, and services. Our company operates several well-known brands, including kv.ee, osta.ee, auto24.ee, kuldnebors.ee, mototehnika.ee, rasketehnika.ee, veetehnika.ee, and getapro.ee.

This activity report provides an overview of the company's activities and financial situation during the reporting year from May 1, 2022, to April 30, 2023.

Operating Environment and Impact on Economic Results

Considering the rise in loan interest rates, the war in Ukraine, and high energy prices, the real estate market cooled down during the fiscal year. However, signs of market recovery began to appear towards the end of the fiscal year. The sales periods for both real estate and cars lengthened. This, in turn, promoted the sale of longer-term advertising packages, which positively affected our portals. The cooled real estate market increased the demand for advertising products.

Our general announcement and trading portals are growing along with other e-commerce, but after the large growth following COVID, the growth from a high comparison base has been more modest in a year.

The company's business activities are not seasonal.

Significant Events

During the fiscal year, we acquired the service portal GetaPro.ee, which has been operating in Estonia for some time. The portal's services are free and have managed to grow the user base faster than expected. We plan to make certain parts of the portal's services paid next year.

Social Activity

Our company's activities help promote the circulation of durable goods, thereby extending their useful life and supporting a more sustainable environment. In addition, our participation in public sector internet auctions increases transaction transparency and allows the public sector to save costs.

Investments in Fixed Assets

During the reporting period, we invested 44 thousand euros in tangible fixed assets and 330 thousand euros in intangible fixed assets. Next fiscal year, we plan to invest somewhat more in servers and other IT assets.

Revenues, Expenses, and Profit

During the reporting year, our company's sales revenue was 15.5 million euros and net profit was 1.79 million euros. Our main sources of income are related to listing fees, advertising, and commission fees.

The company's articles of association do not specify a dividend policy. Profits are distributed (losses are covered) each time in accordance with the law.

Financial Risks

The company's activities involve several financial risks, including market risk, credit risk, and liquidity risk. Our company's risk management program focuses on mitigating financial market volatility, with the aim of minimizing financial risks and ensuring the stability of financial results.

To mitigate credit risk, we continuously monitor receivables and use reminders and warnings as needed. To mitigate liquidity risk, we ensure sufficient funds and credit limits. To avoid currency risk, we only settle in euros.

Management and Staff

The company's executive management and senior management received remuneration totaling 80 thousand euros during the fiscal year. The company's labor costs, including taxes and other benefits, were 2,069 thousand euros, and the average number of employees converted to full-time was 39.

Objectives

The main objectives for the next fiscal year include increasing market share and developing products in terms of usability and accessibility.

Summary

During the reporting year, AllePal OÜ took several strategic steps, acquiring the GetaPro.ee portal and continuing to successfully manage various internet portals. In our activities, we have focused on social responsibility and environmental sustainability. Despite challenges in the real estate and car sectors, we continue to strive towards our goals and look to the future optimistically. We see sustainable growth in e-commerce and even more so in the circulation of durable goods, where our trading portals play a significant role.