Estonia, Good for Business, Industry, Markets and Companies, Oil

In March 2020, the company paid shareholders eight mln euros in dividends for the past financial year. 

Revenue of the company grew 22.9% in comparison with 2019 to 256.8 mln euros, it appears from the annual report.

VKG processed 5 mln tons of oil shale during the year, producing 659,000 tons of oil and phenolic products. In addition, it produced one terawatt-hour of energy from oil shale gas for consumers of electric energy, remote heating and industrial steam. 

The share of exports in the company's net revenue was 79 % last year, compared with 73% in 2018 and 71% in 2017.

Investments financed during 2019 amounted to 30.2 mln euros, up from 27.2 mln euros the year before.

In 2019, the company paid out 3.2 mln euros in dividends. The company's undistributed profit as at year-end stood at 354.9 mln euros.

On Dec. 30, shareholders of VKG decided that the group will repurchase up to 10% of own shares from shareholders during one year.

The average number of employees in 2019 was 1,792, 25 more than in 2018. Labor costs grew 8.8% on year to 49.6 mln euros.

The shareholders of VKG, according to Creditinfo, are Priit Piilmann with a stake of 38.13%, Margus Kangro with 24.98%, Ants Laos with 19.14% and Elar Sarapuu with 15.75%.