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's activity report 2022

ETS NORD AS is a rapidly developing technology company, we are completing the factory building at Peterburi tee 53 which creates healthy and economical indoor climate property development. This will become a springboard for our solutions. We are committed to the growth of the entire value chain for the next periods.

Digitalization from systems, in 2022, the Company bought back 3,237 of its own shares, modeling, supply and production processes, to a nominal value of 0.6 euros per share. Back to logistics, commissioning and maintenance processes.

The proportion of repurchased own shares in the share capital was

The Company owns development, sales, production and 1.88%. The company paid 647 thousand logistics units in Estonia, Finland, Sweden and the United Arab euros for its own shares. The purpose of acquiring own shares was

Emirates. Finnish and Swedish units Venttillverkarna Huddinge Aktiebolag operate as branches. The payment of the assets of the United Arab Emirates, namely part of the agreement was that part of the units operate as subsidiaries, but in 2022. ETS NORD AS will pay for the purchase price with its own shares.

Active economic activity in these

Revenues, expenses and profit in companies were not.

In 2022, the Company's sales revenue amounted to 70.4

Major events in 2022 million (2021: 59.2 million) euros. Operating profit

The year 2022 will be remembered primarily as a year of war. The terrorist aggression of Russia that began on February 24 in Ukraine once again showed that it is not possible to prepare sufficiently for any crisis. From the middle of 2022, interest rates began to rise sharply. The interest expenses for the financial year were 552

Today's world requires all of us to be flexible and thousand euros (2021: 455 thousand euros). In the opinion of the company's management, interest rates may continue to rise in the next reporting period,

Helping Ukraine win this war is a security guarantee for all of Europe and especially the Baltic States. The Company has also made its contribution to this. We supported the Ukrainian Red Cross with 30,000 euros in 2022. In 2023, we will continue to provide support according to needs and

The volume of the Company's assets and liabilities denominated in foreign currencies is marginal as of the balance sheet date, according to the management's

For the Company, 2022 was a volatile year in terms of input prices. At the beginning of the year, there was a significant price increase and the company assesses currency risks as low.

The second half of the year was a time of stabilization. The year

Investments in the first half we made the best result of all time, the growth of the second half remained higher due to the higher comparison base and the decrease in construction market demand. During the reporting period, the Company invested a total of 3.3 million (2021: 3.7 million) euros in fixed assets. The largest investment in 2022 was the acquisition of a new Swedish business unit (1,015 thousand euros) and additional investments were also made in machinery and equipment (762

The biggest single event was the acquisition of the new thousand euros) and product development and IT projects (163 thousand euros).

company Venttillverkarna Huddinge Aktiebolag in Sweden. This company is strategically located near Stockholm and allows us to continue to grow rapidly in a declining construction market.

In 2023, the Company will celebrate its twentieth

Last year we also started designing our new factory in Tallinn, which will be launched in the summer of 2024. The total investment with the construction cost is 13-15 million euros. The new 2023 will not be easy for the world. Even more, the continuous growth that has lasted for more than a dozen years ended last year. Inflation is at its peak and