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Q1 results of 2026

Infortar increased its revenue by 13% in the first quarter to EUR 505 million. The company’s profit amounted to EUR 5 million, and EBITDA reached EUR 47 million. The Group’s equity amounted to EUR 1.236 billion, total assets to EUR 2.659 billion and investments to EUR 29 million. Infortar’s borrowings decreased by 7% to EUR 1.032 billion, and net debt decreased by 16% to EUR 800 million.

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

According to Ain Hanschmidt, CEO of Infortar, the improvement across all of the Group’s key financial indicators has been driven by organic growth in day-to-day business activity and volumes. “Over the past year, we have further reduced our already low debt burden. A strong balance sheet and solid liquidity give us a secure financial position and room to grow even in more challenging conditions,” Hanschmidt noted.

“We have built a portfolio that does not rely on any single sector or market. Energy, maritime transport, real estate and agriculture perform differently across economic cycles, and that diversification is what gives the Group stability. In a changing environment, it helps us balance risk and maintain steady cash flows,” Hanschmidt said.

“Changes in Tallink Grupp’s management have brought fresh momentum, and we are entering the peak summer season on the Baltic Sea with confidence. In real estate and construction, projects are progressing well: the Rail Baltica project continues to move forward, the Halinga green gas plant in Pärnu County is nearing completion, concrete works are actively underway at the Depo store development in Lasnamäe, Tallinn, the arches of the Sindi–Lodja bridge have been installed in Paikuse, a topping-out ceremony was held at INF Ehitus’s new production facility, and the newly renovated Tallink Express Hotel has reopened,” Hanschmidt added.

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Welcome Peep Jalakas

As of 6 April, Peep Jalakas has taken up the role of Chairman of the Management Board of Tallink Grupp. In his first interviews, he noted that he sees the offer to lead Tallink as a significant recognition of his work to date. On his very first day, we asked the new CEO to sum up the past 40 years of his life in just a few sentences.

“I was born and raised in the small town of Kunda, attended Kunda Ühisgümnaasium, and went on to study economics at the University of Tartu. Numbers have always fascinated me, and when the opportunity arose to join SEB Bank during my second year at university, I didn’t hesitate for long. Of course, at 20, I didn’t imagine I would stay there for 20 years and work my way through nine different roles – from teller and client manager to Head of Credit and ultimately Member of the Management Board. At one point, I also spent six months in Sweden.”

As a leader, Peep is demanding of both himself and his colleagues, valuing precision and openness. He also believes that alongside hard work, it is important to take time to celebrate achievements, as most of us spend half or more of our waking hours at work with colleagues – and that part of life should be enjoyable too.

“I’m very excited to join the Tallink team and contribute to the company’s growth and development. Over the years, Tallink has shown it can perform in all kinds of circumstances. My goal is to ensure Tallink continues to be the number one choice for both customers and employees, while delivering financial results that satisfy our more than 37,000 shareholders.”

In his free time, Peep enjoys sports, with running as his main passion, alongside ball games such as tennis and volleyball.

“During secondary school, in addition to basketball, I was also actively involved in folk dancing. I can confidently say it’s the mother of all cardio training – there’s only a very short step from that to running a full marathon,” he added with a smile.

Welcome aboard and best of luck! tere

Photo: Jake Farra

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INF Maavarad is the first in Estonia

INF Maavarad has taken a significant step in its sustainability strategy by becoming the first company in Estonia’s construction aggregates sector to issue Environmental Product Declarations (EPDs) for its products.

An EPD, or Environmental Product Declaration, is an analysis based on Life Cycle Assessment (LCA) that provides a comprehensive overview of a product’s environmental impacts, including its carbon footprint. Importantly, all calculations are verified by an independent third party prior to publication, ensuring the reliability and comparability of the data.

The introduction of EPDs creates value across the entire supply chain. It provides:

greater transparency for the producer in understanding and improving its operations,
clarity and reliable information for customers,
essential input for calculating the environmental impacts of other products, where EPDs are often a prerequisite.

For INF Maavarad, this represents a milestone that supports both the company’s and the wider construction sector’s transition towards more environmentally conscious and measurable solutions.

OÜ INF Maavarad is part of the Infortar Group and is engaged in the extraction and processing of construction aggregates. The company brings together long-standing experience and sector expertise dating back to 1993. INF Maavarad produces materials that are essential for the construction industry’s daily needs and places strong value on engineering know-how – its quarries are managed by experienced, certified mining engineers. The company actively collaborates with both clients and local communities to minimise the impacts of its operations and contribute to shared development.