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's activity report 2022

General Information

AS VMT Tehased was established as a result of the restructuring of AS Viljandi Metall in 2006 when the parent company separated the entire steel structure production unit into an independent subsidiary. Production takes place in Viljandi, Põltsamaa and since 2021 also in Turba factory.

AS VMT Tehased has become one of the leading manufacturers of steel structures in Estonia. We have been certified since 2011 according to standards EN 1090-1 and EN ISO 3834-2. According to standardization, we are authorized to issue performance declarations with CE marking for structural bearing structures up to EXC3 class.

Market and field of activity

The main activities of the past financial year were the production of construction steel structures and mechanical engineering components for both export and Estonian sales, and the final assembly of equipment.

The main markets of the company are Estonia, Finland, Sweden and Norway.

The largest segments in 2022 were: 1. CONSTRUCTION STEEL STRUCTURES- ESTONIA, FINLAND AND SWEDEN 2. INDUSTRIAL EQUIPMENT COMPONENTS- SWEDEN, FINLAND, NORWAY

A total of 6780 tons of different types of steel products were produced.

As with the manufacturing industry on average, the proportion of costs for raw materials and other production inputs in the metal and machinery industry is high. The increase in steel prices on the world market and the decrease in the availability of raw materials in the first half of the year had the greatest impact on production activity in 2022.

Turnover

The sales revenue of VMT Tehased AS increased by 44% in 2022 compared to 2021 and amounted to 24 140 thousand eur. In 2021, this figure was 16 690 thousand eur. The share of exports in turnover was 53%, in 2021 it was 52%.

The increase in turnover was facilitated by the Turba factory acquired during the merger with Küteks AS in the spring of 2021, the main production output of which is industrial equipment components. Despite the increase in turnover, it has not been possible to keep the cost of production at the desired level in the Turba factory. The greatest impact was made by limited production capacity and the resulting labor and time costs.

Profit

The profit for the reporting year increased by 126% compared to the previous year and amounted to a total of 386 thousand eur. The net profitability was 1.60% in the past financial year, 1.02% in 2021. Considering the increase in steel prices and the limited availability of raw materials in the first half of the year, the company managed to increase profits and fulfill orders thanks to proactive raw material stocking in the warehouse.

Investments

The investments made during the reporting year are mainly related to the renewal of production equipment and increasing competitiveness in the company's three production units.

Investments made during the reporting year:

Buildings, structures 11 349