Estonia's largest investment holding company

A year after its stock market debut, the value of Infortar’s shares surpassed the one-billion-euro mark for the first time today. Infortar’s stock has been the strongest performer on the main list, with the company’s value increasing by 78% since its IPO.

Infortar’s balance sheet exceeded the one-billion-euro threshold in 2022, followed by its revenue in 2023, and its equity in 2024.

“It was once a dream to create a crisis- and inflation-resistant billion-euro company. When we went public, we promised both growth and dividend potential, and today we have delivered on those promises. Now it’s time to set new goals,” said Infortar’s CEO, Ain Hanschmidt.

“Infortar has gained strong momentum since going public, expanding into both existing and new markets and sectors, while paying solid dividends to nearly 6,000 shareholders,” Hanschmidt added.

Last year, Infortar made three major investments. In the spring, the company entered the agricultural sector by acquiring one of Estonia’s largest dairy farms in Halinga and is now building a biogas plant next to the farm to produce local gas. In the late spring and summer, the group invested €110 million to acquire Tallink shares, increasing its stake in the company to 68.5%. In the autumn, Infortar’s subsidiary Elenger signed a €120 million deal with the German energy group EWE AG to acquire EWE Group’s entire Polish business, including a natural gas distribution network in Western Poland and all energy sales operations.

Tallink Takso plans to cease operations within the next month, as the company will undergo liquidation. According to Infortar CEO Martti Talgre, both the market and the company's focus have shifted.

“Tallink Takso was originally established to serve Tallink passengers. However, the market situation has changed beyond recognition, and from the customer’s perspective, obtaining fast and high-quality service is no longer an issue. Additionally, Infortar has become a publicly traded company, which, in pursuit of constant growth, is focusing on developing profitable businesses in its core sectors,” said Talgre.

“We are deeply grateful to everyone who has contributed over the years, whether as passengers, employees, or taxi drivers. We will address all existing obligations and transport agreements gradually, ensuring no one is left in a difficult situation. The yellow taxis will continue to operate on Tallinn’s streets for at least the next month,” noted Tallink Takso's Chairman of the Board, Tõnu Uusmaa.

As part of the liquidation process, fourteen employees working in the office and call center will be laid off. Taxi drivers operate as sole proprietors or small business owners.

Tallink Takso generated a revenue of €2.36 million in 2023, with a loss of €211,000. The company’s revenue constitutes 0.2% of Infortar’s total sales revenue of €1.085 billion.