Estonia, Financial Services, Markets and Companies

Of sectors the biggest hit was suffered by the accommodation and food sector which was the only field to suffer loss summarily – while in 2013 the sector produced profit of 16 million euros, in 2014 loss totaled 26 million euros. At the same time sales revenue in the sector increased by 7%, Krediidiinfo said.

The number of companies ending the year with loss increased by 6% on year, totaling 36,378.

The growth of Estonian companies' sales decelerated for the third year in a row. Sales revenue of all companies amounted to 52.5 billion euros in 2014.

The sum of Estonian companies' profits increased by 6% and totaled 5.8 billion euros in 2014. In addition, the number of companies earning profit grew nearly 3% to 72,604.

Annual reports of 122,145 Estonian companies were used in the study.