ANNUAL REPORT 2021

23 REPORT ON ASSETS AND FINANCIAL MANAGEMENT ASSETS AND FUNDS The carrying amount of the Company’s assets recognised as at 31 December 2021 in accordance with International Financial Reporting Standards (IFRS) amounted to EUR 324 686 thousand, a year-on-year increase of EUR 33 657 thousand (11.6%). The increase was due to an increase in non-current assets by EUR 2 654 thousand as a result of investments in machinery, equipment and buildings, exceeding depreciation charges for the assets by EUR 1 949 thousand (1.7%), and an increase in financial investments. Current assets increased by EUR 31 003 thousand (32.7%), primarily due to an increase in their largest item, inventories, by EUR 18 549 thousand (35%) to EUR 72 002 thousand. Trade receivables and other financial assets also increased, by EUR 11 344 thousand (28%). The Company’s cash decreased by EUR 303 thousand. As at 31 December 2021, the Company’s equity increased by EUR 5 659 thousand to EUR 211 298 thousand (2.8%) after the recognition of profit for 2021. The higher increase in assets compared to equity resulted in the equity-to-assets ratio falling from 70.7% to 65.1% as at 31 December 2021. Liabilities increased by EUR 27 998 thousand (32.8%). The highest growth was recorded in short- term interest-bearing loans and borrowings (by EUR 17 526 thousand) and trade payables (by EUR 14 224 thousand). In total, interest-bearing loans and borrowings amounted to EUR 61 628 thousand, and their share of total funds was 19% as at 31 December 2021. As at 31 December 2021, the Company’s trade receivables amounted to EUR 51 783 thousand, an increase of EUR 11 344 thousand over the previous year. Inventories amounted to EUR 72 002 thousand and trade payables amounted to EUR 36 440 thousand as at 31 December 2021. Throughout the period, the Company’s overdue receivables and overdue payables were at no time a significant percentage of total receivables and payables. The equity-to-total-assets ratio decreased to 65.1%. 65% 19% 11% 37% 25% 22% 16% Property, plant & equipment Financial assets Inventories Receivables Assets as at 31 Dec 2021 Equity & Liabilities as at 31 Dec 2021 5% Equity Interest-bearing loans and borrowings Other current liabilities Other non-current liabilities REPORT BY THE BOARD OF DIRECTORS ON BUSINESS ACTIVITIES, ASSETS AND FINANCIAL PERFORMANCE IN 2021 AND INFORMATION ON THE BUSINESS PLAN