Skip to content

Estonia's largest investment holding company

Watch

Cornerstone Laid for the Sindi–Lodja Bridge

At midday on 11 December, winter swimmers brought a time capsule from the opposite bank of the River Reiu. The capsule was then placed into the bridge structure by Pärnu Mayor Kristel Voltenberg, Hannes Vaidla, Head of the Western Division of the Transport Administration, Ain Hanschmidt, CEO of Infortar, and Robert Sinikas, CEO of INF Infra.

According to Ain Hanschmidt, the construction of the Sindi–Lodja Bridge is rewriting history. “Archaeological excavations at the mouth of the River Reiu have revealed what is likely Estonia’s oldest house, dating back 7,300 years. With the building of the new bridge, however, we are writing new construction history and creating a fresh culture of cooperation, as this is the first time in Estonia that we are using the alliance contracting model, which binds the client and the contractor more closely together,” Hanschmidt said.

“By placing today’s time capsule, we mark an important milestone in the construction of the bridge. We have now completed the underground structures and reached ground level, marking the start of the above-ground phase. We will continue with the construction of the bridge piers and the installation of the steel structure, followed by the construction of the deck slab. In the second half of the summer, we will open the new bridge to traffic, after which we will refurbish the adjacent old bridge for pedestrians and cyclists,” noted INF Infra CEO Robert Sinikas.

“The time capsule placed today represents not only a new stage in the construction process but also an innovative approach to delivering infrastructure projects. The alliance model has enabled us to bring together the expertise of the client, designer and contractor at an early stage to ensure higher quality results and better-managed risks. This form of cooperation creates greater transparency and shared responsibility within the project and helps ensure that the completed bridge will benefit the region in the long term,” said Hannes Vaidla, Head of the Western Division of the Transport Administration.

The new Sindi–Lodja steel composite bridge, featuring V-shaped intermediate piers, will span the River Reiu alongside the existing reinforced concrete arch bridge. The new bridge has been designed so that it does not dominate the old one; instead, the two structures will complement each other.

The alliance procurement method—used in Estonia for the first time—is a new-generation contracting approach that differs from traditional methods in terms of early involvement, joint decision-making, and the sharing of risks and benefits between the client and the contractor.

Construction works on the site are scheduled for completion in 2027.

Watch video here

Q3 Results of 2025

Infortar’s sales volume grew by one-third in the third quarter, reaching 468 million euros, EBITDA amounted to 105 million euros, and net profit to 72 million euros. Over the first nine months, the Group’s revenue increased to 1.4 billion euros, and total investments reached 96 million euros.

A recording of the webinar presenting the second-quarter results is available HERE.

“We delivered a strong quarterly result, with all business segments contributing more significantly than a year ago. The considerable growth in sales volumes has had a positive impact on profitability, higher revenues have translated into increased profit. Tallink has successfully adapted to the regional economic challenges and market environment, increasing passenger numbers. Following a mild winter, Elenger expanded its market share in Finland and the Baltic region to a record 30% over the summer months. In the real estate and construction segment, we continue work on several large infrastructure projects, including the construction of the main line of Rail Baltica,” said Ain Hanschmidt, CEO of Infortar.

“The Group companies Tallink and Elenger have jointly taken a significant step towards sustainability – Tallink’s newest shuttle vessel, MyStar, began using bio-LNG fuel in the third quarter, with the aim of transitioning both MyStar and Megastar fully to bio-LNG. Tallink is setting an example for other operators and helping to reduce the environmental footprint across the Baltic Sea,” Hanschmidt added.

“Major changes are also taking place in onshore gas consumption. In Estonia, the share of locally produced biomethane – derived from cattle manure and biowaste – has already grown to nearly 10% of the country’s total gas consumption, thereby strengthening our overall energy independence. In the transport sector, imported fossil gas has already been replaced by locally produced green gas, transforming what was once a fossil fuel into a renewable and domestic source of energy,” Hanschmidt noted.

The Group’s sales revenue for nine months totalled €1.419 billion, with EBITDA of €190 million and a net profit of €58 million. As of 30 September 2025, the company’s equity stood at €1.2 billion, and total assets at €2.5 billion. In July this year, the company paid out €31 million in dividends.

Infortar Estonian Challenge

Next summer, the Estonian Golf Association will host the Infortar Estonian Challenge at the Estonian Golf & Country Club in Jõelähtme, as part of the European professional golf series, the HotelPlanner Tour. The tournament boasts a record-breaking prize fund of €300,000 – the largest in Estonian sporting history – with the winner taking home a €48,000 cheque.

According to Ain Hanschmidt, President of the Estonian Golf Association, bringing a professional tournament to Estonia marks a significant milestone in the development of golf in the country.

“For Estonian national golfers, it opens a window into the professional world; for golf fans, it’s a chance to experience top-level golf first-hand; and for Estonian sport as a whole, it adds another prestigious international event alongside WRC Delfi Rally Estonia, the Swedbank Tallinn Marathon, and Ironman – helping raise the profile of our country and our players,” Hanschmidt noted.

Sam Townend, Chief Executive of the HotelPlanner Tour, added:

“Estonia will become the 52nd country to host a stage of the HotelPlanner Tour and the first new country since 2020. We expect 156 top-class players from across the globe – including rising stars and golfers who have already earned millions over their careers.”

The Estonian Golf Association has signed a three-year hosting agreement with the European Tour Group, with the total cost of organising the three stages exceeding €1.5 million. The main sponsor of the event is Infortar, one of the largest companies in the region, supported by the national golf team’s sponsor club, which includes 30 companies and private members.

The inaugural Infortar Estonian Challenge will take place from 30 July to 2 August at the Sea Course of the Estonian Golf & Country Club – one of the most renowned courses in the Baltic region.

Hanno Kross, CEO of the Estonian Golf & Country Club, emphasised that it’s no coincidence the professional tournament will be held in Jõelähtme for the next two years:

“Since our founding 20 years ago, we have worked closely with the European Tour to bring world-class expertise to Estonia in both golf development and course management. Hosting top-level tournaments has always been central to our strategy – we have already hosted seven European Championships at our Sea Course. It’s a great honour that the European Tour and the Estonian Golf Association have chosen us from among all Estonian courses to provide professionals with a beautiful yet challenging venue,” said Kross.

The event also grants the Estonian Golf Association 50 playing invitations, which can be exchanged with other tournament organisers. This gives Estonian golfers an opportunity to begin their professional journeys at the second tier of European professional golf.

The HotelPlanner Tour – formerly known as the Challenge Tour – is Europe’s second-tier professional golf series, established in 1989. It has served as a launchpad for golfers aspiring to reach the world’s elite: the top 20 players each season advance to the DP World Tour (formerly the European Tour).

To date, 231 former HotelPlanner Tour players have won 618 tournaments on the DP World Tour. The 2026 HotelPlanner Tour season will begin in January in South Africa and conclude with the Grand Final in Mallorca, featuring up to 30 tournaments across 20 or more countries in Europe, Asia, the Middle East, and Africa.

Over the years, the Tour has produced eight major champions – Michael Campbell, Trevor Immelman, Louis Oosthuizen, Martin Kaymer, Henrik Stenson, Justin Rose, Brooks Koepka, and Matt Fitzpatrick. In 2011, Martin Kaymer became the first Tour graduate to reach the world number one ranking.

In total, 35 former HotelPlanner Tour players have represented their teams in the Ryder Cup, including six members of the victorious European team who began their professional journeys on the Tour.