Employment, Estonia, EU – Baltic States, Legislation, Markets and Companies

In 2014, the company sustained a loss of 336,000 euros mainly as a result of the sale of fixed assets.

Sales in 2015 grew by 0.8 percent year over year to 2.1 million euros. "The emphasis in 2015 was on developing own products and expanding the market outside of Estonia," it stands in the annual report of Eesti Vanglatoostus. The biggest portion of the revenue, 1.2 million euros, was earned by selling stoves, industrial ovens and burners of the Stoveman brand.

In a breakdown by market, revenue generated in Estonia totaled 1.5 million euros, compared with 1.6 million euros in 2014. Revenue in Finland totaled 297,700 euros and revenue in Latvia 108,000 euros. Sales to Slovakia, a new market, amounted to 268 euros.

The number of employees was 27 in 2015 and 26 in 2014, and wage costs totaled respectively 406,866 euros and 386,651 euros. Payouts for the remuneration of employees working under the Imprisonment Act totaled 855,800 euros last year and 241,000 euros in 2014.

The company is planning to stick to the same areas of business in 2016 and to post a full-year revenue of 2.05 million euros. "In the coming year we intend to put the emphasis on product development and quality control, as well as on increasing export," the annual report says.

At the beginning of the year AS Eesti Vanglatoostus, a company established in 2001, consisted of an administration unit based in Tallinn and manufacturing units in the prisons of Harku, Viru and Tartu.