Press release: Recession ended in 2010 for Estonian companies
The overview “Financial indicators of Estonian companies 2010” indicates that almost all commercial sectors became profitable and the losses of Estonian companies decreased by 60 per cent in the previous financial year. Sales revenues have also started to grow again.
The total amount of companies’ losses was 1.2 billion euros (18 billion kroons), being below the level of the previous year by 1.7 billion euros (26.9 billion kroons). The number of companies that reported a loss decreased by 17 per cent during the year. 25,926 companies completed the financial year with a loss.
At the same time 44,351 companies, i.e. 28 per cent more than in the previous financial year, completed the year with profits. The total sum of profits earned by companies in 2010 was 3.5 billion euros (55 billion kroons).
The construction sector that had reported losses for several years previously became profitable again in 2010. The greatest increase in profitability occurred in the sectors of wholesale and retail and in repair of motor vehicles and motorcycles (924%), processing industry (541%) and transportation and warehousing (486%). The only sector that still remained unprofitable was accommodation and catering.
The sales revenue of Estonian companies increased in 2010 compared to the same period of the previous year by 8 per cent, reaching the level of 37 billion euros (579 billion kroons).
Sales volumes increased the most in the sectors of art, entertainment and leisure (53%), agriculture, forestry and fishing (48%) and processing industry (43%).
The overview “Financial indicators of Estonian companies 2010” is based on data acquired from the annual reports of approximately 74,000 companies. The materials are available for review on the website of Krediidiinfo.