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On the 6th of May, a webinar took place where Martti Talgre, and Kadri Laanvee discussed the record-breaking results of Infortar for the first quarter of 2024 – revenue increased to 373 million euros and net profit to 62 million euros. The webinar can be viewed here.
"Infortar successfully managed to increase its sales volumes amidst stabilized energy prices and continue its expansion into new markets and sectors. Today, over 80 percent of our revenue comes from foreign markets, our investments have been profitable, and as one of the region's largest investment companies, we are constantly seeking growth opportunities," noted Ain Hanschmidt, CEO of Infortar.
Infortar's largest private equity energy company in the Finnish and Baltic region, Eesti Gaas (known as Elenger in foreign markets), increased its sales volume by 74 percent compared to the same period last year, reaching a total of 6.1 TWh. The company's market share in gas sales in the Finland-Baltic market increased to 26.4 percent, and Eesti Gaas/Elenger imports about a third of the gas arriving in the region.
In addition to energy, shipping, and real estate, Infortar entered the agricultural sector by acquiring a majority stake in one of Estonia's largest dairy farms in Halinga, Pärnumaa. Tallink, in the maritime transport sector, posted a profit in the first quarter. In the real estate sector, the expansion of Tallink's logistics center in Maardu was completed at the beginning of the year, construction continues on the 25,000 m2 RIMI logistics center in Saue municipality, and work on a new bridge in Pärnu is underway.
Compared to the first quarter of last year, Infortar's EBITDA grew by 40 percent and profit by 32 percent. Infortar's equity amounted to 853 million euros as of March 31st this year, with assets totaling 1.4 billion euros. The company made investments totaling 7 million euros in the first quarter.
