Estonia, Financial Services, Good for Business, Markets and Companies

The number of profit making companies meanwhile grew by 3.4% to 81,740. Companies earned profits in all sectors and in all counties of Estonia. The ratio of profits to revenue rose to 9.3%.

The biggest rates of increase in profits were registered last year in mining, 343%, in professional, scientific and technical activities, 156%, and in the sector of electric energy, 56%.

The aggregate sales revenue of companies climbed 3.4% on year to 54.1 billion euros. The biggest increases were registered in accommodation and catering, 10%, and health care and social services, 9.5%.

The sum total of losses sustained by Estonian companies in 2016 was 1.3 billion euros, 16% smaller than in the previous year. In 2015, an increase of 14% in total losses on year was registered. The number of businesses that ended 2016 with a loss was 39,872, 1.8% smaller than the number of such businesses in 2015.

The survey titled Financial Indicators of Estonian Companies is carried out at the end of the year to be able to include also the actual financial data of businesses that are late filing their annual accounts, which make up almost 30% of all companies.

The survey for 2016 uses data from the financial reports of 133,351 Estonian companies, including credit institutions and insurers based on information available from the central bank and the Financial Supervision Authority.