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's activity report 2022

The company is engaged in the production of sauna stoves, electric heaters and their control electronics.

We produce electric heaters with control electronics. We also produce wood-burning heaters with necessary accessories.

2022 was a successful year for HUUM OÜ. Production volume increased significantly. Sales turnover increased by almost 30%.

The existing premises became too small and during this financial year, the company moved to new premises, which allow for further growth. Production and warehouse conditions have improved. Several investments are related to the move.

The Smart Sauna development project, which was also supported by EAS with European Union funds, ended in the reporting year. Follow-up projects will also take place after the reporting period.

The sales process has been stable and does not depend significantly on seasons. The cyclical nature of construction has a minor impact.

During the reporting year, the sales volume of products intended for the US and Canadian market has significantly increased. The trend will continue after the reporting period.

The prevailing economic crisis in Europe has had an impact during the reporting year and also in the following period, and European turnover has decreased. Despite this, the company has practically achieved its sales growth target. Sales increased by 29.25%. The growth trend will continue after the reporting period. The impact of exchange rates and interest rates on operations has been insignificant.

The HUUM team has grown significantly. Investments have been made in the recruitment of sales, marketing and development specialists. The professionalism of the team is strategically important for the company to ensure its continued development and growth.

The company has set a goal to operate as environmentally friendly, green as possible.

We continued to invest in development activities, which are also supported by European Union funds.

No transactions with parts have taken place during the financial year.

Donations made to Ukraine did not significantly affect the company's economic activity. This has been a positive example and has raised the company's reputation.

.FINANCIAL INDICATORS:

Short-term liability coverage ratio 2022 2021 (current assets/short-term liabilities) 2.43 4.60

Cash Ratio (cash + short-term securities / short-term liabilities) 0.23 0.02

Debt ratio (liabilities / total assets) 0.27 0.22

Return on Equity (ROE) % (net profit / average equity*100) 47.3% 95.9 %

No major investments are planned for the following year. Cooperation has been started with Ukrainian partners in the production of bodies. Production is located outside the direct war zone. At the same time, cooperation with Estonian partners continues and if necessary, it is possible to stop supplies from Ukraine without causing disruptions in production.

The goal for 2023 is to increase turnover by at least 20% and enter the Japanese market.