Energy, Estonia, Good for Business

International Internet Magazine. Baltic States news & analytics Friday, 22.03.2019, 15:01

Tartu-based energy infrastructure company Giga boosts sales by 31.2%

BC, Tallinn, 20.03.2018.Print version
Giga AS, the Tartu-based remote heating infrastructure construction company which owns a 40% stake in heating provider Fortum Tartu, saw its revenue grow 31.2% year over year to approximately 11.4 million euros in 2016, informs LETA/BNS.

The company's net profit for the period surged 33.7% to 9.5 million euros, it appears from the annual report.

The average number of employees in 2016 was 82 and wage costs totaled 1.9 million euros.

The core business of Giga AS is construction of water, gas and sewerage networks. The company holds 40% of the shares in the heating company Fortum Tartu AS. Via the subsidiary Suits Meedia OU, the company also holds 50% stakes in the newspaper publisher SL Ohtuleht AS and magazine publisher Ajakirjade Kirjastus AS.

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