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's activity report 2022

OÜ Kudi Studio was established in 2019. In 2022, Kudi Studio OÜ continued its operations in its main field Other Information Technology and Computer-related activities 62091.

The main activity of Kudi Studio OÜ is search traffic, development and monetization through iOS app subscription, development and monetization through Android advertising apps.

We are intermediaries between some partners who provide us with Google/Yahoo/Bing search flows to earn money, and other partners who monetize these search flows through search queries and clicks on ads/purchases.

In 2022, KuDi Studio OÜ's sales revenue amounted to 10,054 thousand euros (in 2021, it was 2,074 thousand euros).

The profit in 2022 amounted to 1,703 thousand euros (in 2021, the profit was 346 thousand euros).

The economic activity in 2022 was characterized by the formation of the main list of partners.

During the reporting period, a total of 109 thousand euros was invested in tangible fixed assets.

During the reporting period, a total of 81 thousand euros was accounted for salaries. The number of employees increased at the end of the fiscal year.

And 390 thousand euros were accounted for dividends.

The main field of activity of the company will remain the same in the next fiscal year. The goal of the company for the next fiscal year is to improve operations and maintain its market positions in the event of a general economic downturn.

The Board of OÜ KuDi Studio has prepared the annual financial statements in accordance with the Commercial Code, which accurately and fairly reflect the company's assets, liabilities and equity, and the results of economic activity and cash flows. The annual financial statements have been prepared in accordance with the Accounting Act. Kudi Studio OÜ's 2022 annual financial statements have been prepared in accordance with the Estonian Financial Reporting

Standard.

The annual financial statements reflect significant circumstances affecting the valuation of assets and liabilities that occurred between the balance sheet date of 31.12.2022 and the date of preparation of the annual report 15.06.2023.

Assets and liabilities have been valued on a considered and conservative basis. The preparation of the annual financial statements requires the provision of estimates.

These estimates are based on current information about the company's status and intentions and risks as of the date of preparation of the annual financial statements. The final result of economic transactions reflected in the fiscal year or earlier periods may differ from the estimate given in the current period

In the opinion of the Board, OÜ KuDi Studio is still an operating economic unit.

The Board confirms the correctness and completeness of the preparation of the 2022 annual report.

2022 2021

Profit and loss indicators, thousand EUR

Sales revenue 10,308 2,098

Operating profit 1,683 352

Net profit 1,683 352

Balance sheet indicators, thousand EUR

Total current assets 3,427 665

Total equity 1,563 347

Short-term liabilities 1,917 323

Ratios

Operating profitability (%) 16% 17%

Revenue growth (%) 391%

Profit growth (%) 378% -80%

Liquidity ratio 1.79 2.06

ROE (%) 108% 101%

Short-term liabilities coverage ratio(times) 1.79 2.06

CATR 3.01 3.15