Market announcement
AS INFORTAR
LEI code
549300LS1K5S7AWHV603
Size of the entity
Large group
Economic activities
Financial and Insurance Activities
Country of registered office
Estonia
General information
Categories
Annual financial report
Unique data record identifier
11118
Attachments
Submission date and time
24.04.2024 14:31:45
Content of announcement in Estonian
Title
Aktsiaselts Infortar auditeeritud majandusaasta aruanne 2023
Message
Aktsiaselts Infortar (edaspidi Infortar) nõukogu kiitis heaks 2023. aasta
auditeeritud aastaaruande ja esitab selle kinnitamiseks aktsionäride
üldkoosolekule.
Olulisemad sündmused 2023
Energeetika
Kontserni elektri- ja gaasimüügikogused kahekordistusid 2023. aastal ulatudes
Soomes, Eestis, Lätis, Leedus ja Poolas kokku 15,9 TWh-ni. 2023 suurim
investeering oli Läti gaasi jaotusvõrku omava Gaso omandamine, mis tähendas
energia müügi ja tootmise kõrval olulist laienemist infrastruktuuri segmendis.
Laevandus
Laevanduses jätkas Infortar oma osaluse suurendamist, tänase päeva seisuga on
osalus AS- s Tallink Grupp 42,33%
Kinnisvara
Kinnisvara valdkonnas alustasid Infortari ettevõtted möödunud aastal suurematest
projektidest Rimi logistikakeskuse ja Pärnu uue silla ehitust ning Tallinki
logistikakeskuse laiendust.
Tähtsamad finantsnäitajad ja suhtarvud
+----------------------------------------------------+------------+------------+
|Finantsnäitaja/suhtarv |12 kuud 2023|12 kuud 2022|
+----------------------------------------------------+------------+------------+
|Müügitulu (miljonites eurodes) | 1 084,626| 1 053,712|
+----------------------------------------------------+------------+------------+
|Brutokasum (miljonites eurodes) | 149,473| 126,537|
+----------------------------------------------------+------------+------------+
|EBITDA (miljonites eurodes) | 143,283| 120,046|
+----------------------------------------------------+------------+------------+
|EBITDA marginaal (%) | 13,2%| 11,4%|
+----------------------------------------------------+------------+------------+
|Ärikasum/ kahjum (EBIT) (miljonites eurodes) | 123,628| 99,140|
+----------------------------------------------------+------------+------------+
|Aruandeaasta kasum/ kahjum (miljonites eurodes) | 293,830| 96,124|
+----------------------------------------------------+------------+------------+
|Puhaskasum jooksvast tegevusest, (miljonites | | |
|eurodes)(1) | 138,746| 106,616|
+----------------------------------------------------+------------+------------+
|Kasum aktsia kohta (eurodes)(2) | 14.62| 4.77|
+----------------------------------------------------+------------+------------+
|Omakapital (miljonites eurodes) | 820,210| 568, 677|
+----------------------------------------------------+------------+------------+
|Kohustised (miljonites eurodes) | 441,160| 427,205|
+----------------------------------------------------+------------+------------+
|Netovõlg | 354,045| 367,203|
+----------------------------------------------------+------------+------------+
|Investeerimislaenude ja EBITDA suhe | 2.0x| 1.7x|
+----------------------------------------------------+------------+------------+
(1)Sisaldab 159 miljonit eurot Gaso ostust tekkinud ühekordset kasumit ja
kinnisvara ümberhindluste mõju. (2 )Arvutamisel on kasutatud 31.12.2023 seisuga
aktsiate arvu 21 045 000, millest on võetud maha omaaktsiate arv 945 000.
Müügitulu
2023. majandusaastal suurenes kontserni konsolideeritud müügitulu 30,9 miljoni
euro võrra 1 084,6 miljoni euroni (2022 konsolideeritud müügitulu 1 053,7
miljonit eurot). Olulist positiivset mõju avaldas piirkondliku gaasimüügi
turuosa kasv 25% protsendini, mis võimaldas müügitulu võrreldes eelneva aastaga
suurendada.
EBITDA ja segmendiaruandlus
Energeetikasegmendi EBITDA oli 135,9 miljonit eurot 2023. majandusaastal
(115,969 miljonit eurot 2022. majandusaastal). Kasumi kasvu suunasid turuosa
kasv ning müügimahtude kahekordistumine. Kontserni tütarühing AS Eesti Gaas
juhib teadlikult hinnariske, kasutades selleks tuletisinstrumente ja
piirkondlikke maagaasi ladustamise võimalusi.
Laevanduse segmendi EBITDA oli 214,5 miljonit eurot 2023. majandusaastal (135,8
miljonit eurot 2022. majandusaastal). Infortar konsolideerib AS Tallink Grupp
tulemused kapitaliosaluse meetodil, ehk vastavalt oma osaluse protsendile AS-s
Tallink Grupp, kuid segmendiaruandluses on vastavalt kehtivatele
raamatupidamisreeglitele kajastatud 100% AS Tallink Grupp tulemused (sealhulgas
100% EBITDA).
Kinnisvarasegmendis võetakse kasumlikkuse hindamisel arvesse eraldiseisvate
kinnisvara ettevõtete EBITDA. 2023. majandusaastal oli kinnisvara EBITDA kokku
12,3 miljonit eurot (2022. majandusaastal 11,4 miljonit eurot). 2023.
majandusaastal lisandusid arvestusse kolm uut hoonet aadressidel Liivalaia 9,
Tähesaju 9 ja Tähesaju 11.
Puhaskasum
Konsolideeritud puhaskasum oli 2023. majandusaastal 293,8 miljonit eurot (2022.
majandusaastal 96,1 miljonit eurot). Ühekordse olulise mõjuga tehingutest olid
puhaskasumi arvestuses Läti gaasi jaotusvõrgu ettevõte Gaso omandamine ja
kinnisvara ümberhindluse mõjud. Konsolideeritud ärikasum oli 2023.
majandusaastal 123,6 miljonit eurot (2022. majandusaastal 99,1 miljonit eurot).
Ärikasum näitab kontserni põhitegevusest teenitavat kasumit.
Investeeringud
Aastatel 2021-2023 on AS-i Infortar grupi investeeringute kogusumma ligikaudu
265 miljonit eurot. Suurimaks investeeringuks kujunes Läti gaasi jaotusvõrku
omava Gaso omandamine 2023. aastal. Infortar jätkab investeeringutega tulevikus,
aastateks 2023-2025 on plaanis täiendavad investeeringud kogumahus ligikaudu
110 miljonit eurot. Olulisemad töös olevad arendusprojektid on logistikakeskuse
rajamine Sauele ja 4MW paneelide võimsusega päikeseelektrijaama ehitus Lätis.
Finantseerimine
Laenu ja liisingkohustised olid 2023. majandusaastal kokku 441,2 miljonit eurot
(2022. majandusaastal 427,2 miljonit eurot). Finantseerimistegevusest tulenevate
rahavoogude juhtimisele aitas kaasa 2023. aastal toimunud aktsiate avalik
pakkumine, mille raames kaasati 31,2 miljonit eurot.
Dividendid
31. oktoobril 2023 kinnitatud dividendipoliitika kohaselt on eesmärgiks maksta
dividendideks vähemalt 1 euro aktsia kohta majandusaastas. Dividendide
väljamakseid tehakse kahes osas. Infortar kontserni juhatus ja nõukogu teevad
aktsionäride üldkoosolekule ettepaneku tasuda 2023. aasta majandustulemuste eest
dividendi 3 eurot aktsia kohta.
Konsolideeritud kasumiaruanne
Auditeeritud, tuhandetes eurodes
12 kuud 2023 12 kuud 2022
Müügitulu 1 084 626 1 053 712
Müüdud kaupade ja teenuste kulud -935 153 -927 175
Brutokasum/ kahjum 149 473 126 537
Müügi- ja turunduskulud -1 620 -1 408
Üldhalduskulud -22 085 -17 520
Kinnisvara ümberhindlused -4 074 -10 492
Muud äritulud 4 492 2 261
Muud ärikulud -2 558 -238
Kasum/ kahjum äritegevusest 123 628 99 140
2
Finantstulud 765 680
Finantskulud -22 750 -6 275
Kapitaliosaluse meetodil arvestatud
kasum/kahjum 39 639 8 157
Soodusostust saadud tulu 159 158 0
Kasum/ kahjum enne tulumaksu 302 440 101 702
Tulumaks -8 610 -5 578
Aruandeperioodi puhaskasum/ kahjum 293 830 96 124
Emaettevõtte omanikele kuuluv
puhaskasum/ kahjum 293 778 95 943
Vähemusosalusele kuuluv kasum/kahjum 52 181
Muu koondkasum/ kahjum
Töösuhtejärgsete hüvitiste kohustuste
ümberhindlus -44 0
Rahavoogude riskimaandamisinstrumendid* -58 189 94 772
Välismaiste tütarettevõtjate
valuutakursivahed -42 3
Muu koondkasum kokku -58 275 94 775
Aruandeaasta koondkasum/ kahjum kokku 235 555 190 899
sealhulgas:
Emaettevõtte omanikele kuuluv kasum/-
kahjum 235 547 190 718
Vähemusosalusele kuuluv kasum/ kahjum 52 181
Tavakasum aktsia kohta (eurodes) 14,62 15,23
Lahustatud kasum aktsia kohta (eurodes) 14,56 15,23
* Mitterahalised tuletisinstrumentide ümberhindlused koondkasumites ei mõjuta
AS-i Eesti Gaasi ega Infortari põhiäritegevuse kasumlikkust ega rahavoo
teenimise võimet.
Konsolideeritud finantsseisundi aruanne
Auditeerimata, tuhandetes eurodes 31.12.2023 31.12.2022
VARAD
Raha ja raha ekvivalendid 87 115 60 002
Lühiajalised tuletisinstrumendid 28 728 71 109
Realiseerunud tuletisinstrumentide nõuded 5 958 108 917
Nõuded ostjatele 162 575 122 006
Ettemaksed 24 603 76 752
Varud 146 884 16 654
Käibevara 455 863 455 440
Kapitaliosaluse meetodil kajastatud investeeringud 346 014 296 061
Pikajalised tuletisinstrumendid 1 125 12 866
Pikajalised laenud 9 072 15 736
Kinnisvarainvesteeringud 176 024 160 540
Materiaalne põhivara 446 748 147 724
Immateriaalne vara 14 366 8 853
Kasutusõigusega vara 11 300 10 192
Põhivara 1 004 650 651 972
VARAD KOKKU 1 460 512 1 107 412
KOHUSTISED JA OMAKAPITAL
Laenu- ja rendikohustised 186 025 266 308
Võlad tarnijatele 74 751 19 845
Maksukohustised 32 822 31 135
Ostjate ettemaksed 3 099 10 169
Muud lühiajalised kohustised 15 973 6 766
Lühiajalised kohustised 312 670 334 223
Laenu- ja rendikohustised 255 135 160 897
Muud pikaajalised kohustised 30 865 18 076
Pikaajalised eraldised 8 399 649
Edasilükkunud tulumaksukohustis 33 233 24 890
Pikaajalised kohustised 327 632 204 512
Kohustised kokku 640 302 538 735
Aktsiakapital 2 105 1 985
Omaakatsiad -95 -95
Ülekurss 29 344 0
Reservid 28 143 84 162
sh. riskimaandamise reserv* 24 118 82 307
Realiseerimata kursivahed -39 3
Jaotamata kasum 466 140 385 947
Aruandeaasta kasum 293 778 95 943
Emaettevõtja omanikele kuuluv omakapital 819 376 567 945
Vähemusosalus 834 732
Omakapital kokku 820 210 568 677
KOHUSTUSED JA OMAKAPITAL KOKKU 1 460 512 1 107 412
* tegemist on arvestusliku riskimaandamise positsiooni muutusega mis mõjutab
koondkasumi tulemust.
Konsolideeritud rahavoogude aruanne
Auditeerimata, tuhandetes eurodes
2023 2022
RAHAVOOD ÄRITEGEVUSEST
Kasum enne maksustamist 302 440 101 702
Korrigeerimised -104 561 -39 818
Muutused:
Makstud tulumaks -267 -4 051
Äritegevusega seotud nõuetes ja
ettemaksetes 54 540 -116 072
Varude muutused -61 914 3 667
Äritegevusega seotud kohustised -406 55 611
RAHAVOOD ÄRITEGEVUSEST KOKKU 189 832 1 039
RAHAVOOD INVESTEERIMISTEGEVUSEST
Tasutud tütar- ja sidusettevõtete ostul -113 728 -4 895
Antud laenud 0 -6 438
Laekunud laenude tagasimaksed ja intressid 9 343 992
Tasutud materiaalse põhivara soetamisel -18 143 -14 250
Tasutud kinnisvarainvesteeringute
soetamisel -18 556 -23 881
RAHAVOOD INVESTEERIMISTEGEVUSEST KOKKU -141 084 -48 472
RAHAVOOD FINANTSEERIMISTEGEVUSEST
Saadud sihtfinantseerimine 0 3 251
Arvelduskrediidi muutus 14 348 -9 456
Saadud laene 130 567 193 397
Saadud laenude tagasimaksed -312 846 -98 833
Rendikohustiste põhiosa tagasimaksed -2 233 -2 037
Makstud intressid -22 224 -7 960
Makstud dividendid -15 750 -16 110
Laekunud aktsiate emiteerimisest 29 464 0
RAHAVOOD FINANTSEERIMISTEGEVUSEST KOKKU -21 635 62 252
RAHAVOOD KOKKU 27 113 14 819
Raha ja raha ekvivalendid perioodi alguses 60 002 45 183
Raha ja raha ekvivalentide muutus 87 115 60 002
Raha ja raha ekvivalendid perioodi lõpus 27 113 14 819
Aktsiaselts Infortar aastaaruanne 2023 on lisatud teatele ja tehakse
kättesaadavaks veebilehel www.infortar.ee/aruandlus
(http://www.infortar.ee/aruandlus).
Infortar tegutseb viies riigis, ühingu peamised tegevusvaldkonnad on
energeetika, laevandus ja kinnisvara. Infortar omab 42,3 protsendi suurust
osalust AS-is Tallink Grupp, 100% osalust AS-is Eesti Gaas ning mitmekülgset ja
kaasaegset, ca 110 000 m2 suurust kinnisvaraportfelli. Lisaks kolmele
põhitegevusvaldkonnale tegutseb Infortar ka ehituse, maavarade, trükinduse,
taksonduse ja paljudes muudes valdkondades. Kokku kuulub Infortari kontserni
103 ühingut: 47 kontserni tütarühingut, 5 sidusettevõtjat ja 50 sidusettevõtjate
tütarühingut. Arvestamata sidusettevõtjaid annab Infortar tööd 1308 inimesele.
Kadri Laanvee
AS Infortar investorsuhete juht
e-post: [email protected] (mailto:[email protected])
telefon: +372 5156662
https://infortar.ee/investorile
Content of announcement in English
Title
Aktsiaselts Infortar 2023 audited Annual Report
Message
The Supervisory Board of Aktsiaselts Infortar approved the audited annual report
for 2023 and will submit it to the Annual General Meeting for approval.
Major events
Energy
- The group's electricity and gas sales volumes doubled in 2023, reaching
a total of 15.9 TWh in Finland, Estonia, Latvia, Lithuania, and Poland.
- The most substantial investment in 2023 was the acquisition of Gaso,
which owns the gas distribution network in Latvia. This led to a significant
expansion in the infrastructure segment, complementing energy sales and
production.
Maritime transport
- In the maritime transport sector, Infortar continued to increase its
shareholding in AS Tallink Grupp, and as of today, the ownership in AS Tallink
Grupp stands at 42.33%.
Real estate
- In the real estate sector, Infortar group major development projects
included the construction of the logistics center in Saue and the new bridge in
Pärnu, and the expansion of the Tallink logistics center.
KEY FIGURES OF FINANCIAL YEAR
+------------------------------------------------+--------------+--------------+
|Key figures |12 months 2023|12 months 2022|
+------------------------------------------------+--------------+--------------+
|Sales revenue, mEUR | 1 084,626| 1 053,712|
+------------------------------------------------+--------------+--------------+
|Gross profit, mEUR | 149,473| 126,537|
+------------------------------------------------+--------------+--------------+
|EBITDA, mEUR | 143,283| 120,046|
+------------------------------------------------+--------------+--------------+
|EBITDA margin (%) | 13,2%| 11,4%|
+------------------------------------------------+--------------+--------------+
|Net profit, EBIT, mEUR | 123,628| 99,140|
+------------------------------------------------+--------------+--------------+
|Total profit, mEUR | 293,830| 96,124|
+------------------------------------------------+--------------+--------------+
|Net profit from recurring business operations | | |
|(1) | 138,746| 106,616|
+------------------------------------------------+--------------+--------------+
|EPS (euros)(2) | 14.62| 4.77|
+------------------------------------------------+--------------+--------------+
|Total equity | 820,210| 568, 677|
+------------------------------------------------+--------------+--------------+
|Total liabilities | 441,160| 427,205|
+------------------------------------------------+--------------+--------------+
|Net debt | 354,045| 367,203|
+------------------------------------------------+--------------+--------------+
|Long-term debt / EBITDA | 2.0x| 1.7x|
+------------------------------------------------+--------------+--------------+
(1 )Includes a one-time profit of 159 million euros from the acquisition of
Gaso, and in 2023, additional real estate revaluations.( 2 )The calculation is
based on the number of shares as of 31.12.2023, totaling to 21 045 000 shares,
from which the number of treasury shares, totaling to 945 000 shares, has been
deducted.
Revenue
2023, the group's consolidated revenue increased by 30.9 million euros to
1,084.6 million euros (consolidated revenue for 2022 was 1,053.7 million euros).
Revenue growth was driven by the increase in gas sales volumes and the expanded
market share in the Baltic-Finnish region, reaching to 25%.
EBITDA and segment reporting
The annual EBITDA of the Energy segment was 135,9 million euros in 2023 (106.3
million euros in 2022). The profitability is connected with the increase in
market share and the doubling of sales volumes. The group's subsidiary, AS Eesti
Gaas, actively manages market price risks by utilizing regional natural gas
storage options and using relevant financial derivative instruments.
The annual EBITDA of the Shipping segment was 214.5 million euros in the 2023
(135.8 million euros in 2022). Infortar consolidates the results of AS Tallink
Grupp using the equity method, in accordance with its percentage of ownership in
AS Tallink Grupp. However, in segment reporting, the results of Tallink Grupp
AS, include 100% of the EBITDA, as it is in accordance with applicable
accounting rules.
In the Real Estate segment, the profitability is assessed based on the EBITDA of
separate real estate companies' results. In 2023, the total annual EBITDA of
real estate was 12.3 million euros (in 2022, the total annual EBITDA of real
estate was 11.4 million euros). In 2023, three new buildings were added to the
portfolio at the addresses Liivalaia 9, Tähesaju 9, and Tähesaju 11.
Net profit
The consolidated net profit for the year 2023 is 293.8 million euros (compared
to 96.1 million euros in the year 2022). One-time significant transactions
impacting the net profit include the acquisition of the Latvian gas distribution
company Gaso and the effects of property revaluation. Non-recurring items
affecting previous year net profit include the extraordinary profit booked from
acquisition of the Latvian gas distribution company Gaso and the revaluation of
the real estate portfolio. Infortar's net profit from recurring operations
(excluding non-recurring items, which affect comparability) is 144,8 million
euros.
The consolidated operating profit for 2023 was 123.6 million euros (compared to
99.1 million euros in 2022).
Investments
In the past three years (2021-2023), Infortar Group has invested approximately
265 million euros, with the largest investment being the acquisition of Gaso in
2023.
Infortar will continue its investments in the future. Investments already
planned for the years 2024 and 2025 totaling approximately 110 million euros.
The major ongoing development projects include the establishment of a logistics
center in Saue and the construction of a 4MW solar power plant in Latvia.
Financing
The total loan and leasing obligations in 2023 amounted to 441.2 million euros
(compared to 427.2 million euros in 2022). Financing activities cash flow also
includes the proceeds from the initial public offering, which amounted to 31.2
million euros.
Dividends
According to the dividend policy confirmed on October 31, 2023, the objective is
to pay dividends of at least 1 euro per share per fiscal year. Dividend payments
are made semi-annually. The Management Board and The Supervisory Board propose
to General Meeting of Shareholders to pay a dividend of 3 euros per share for
the 2023 financial results.
Consolidated statement of profit or loss and other comprehensive income
Audited, EUR thousand
12-month 2023 12-month 2022
Revenue 1 084 626 1 053 712
Cost of sales -934 811 -927 175
Gross profit/ loss 149 473 126 537
Marketing expenses -1 620 -1 408
Administrative expenses -22 085 -17 520
Profit (loss) from the change in the fair value
of the investment property -4 074 -10 492
Other operating income 4 492 2 261
Other operating expenses -2 258 -238
Operating profit/ loss 123 628 99 140
Financial income 2 765 680
Financial expenses -22 750 -6 275
Profit (loss) from investments in the equity
method 39 639 8 157
Gain from discount purchase 159 158 0
Profit (loss) before tax 302 440 101 702
Income tax expense -8 610 -5 578
Net profit of the financial year 293 830 96 124
Equity holders of the Parent 293 778 95 943
Minority interests 52 181
Other comprehensive income
Revaluation of post-employment benefit
obligations -44 0
Cash flow hedges - the effective portion of a
change in fair value * -58 189 94 772
Exchange rate differences from the translation
of foreign subsidiaries -42 3
Total other comprehensive income -58 275 94 775
Total comprehensive income / loss for the
financial year 235 555 190 899
Attributable to:
Equity holders of the Parent 235 547 190 718
Minority interests 52 181
14,62 15,23
Ordinary earnings per share (in euros per share) 14,56 15,23
* The revaluations of non-monetary derivative instruments in consolidated
profits do not affect the profitability or cash flow generation ability of AS
Eesti Gaas or Infortar's main business activities.
Consolidated statement of financial position
Audited, EUR thousand 31.12.2023 31.12.2022
ASSETS
Cash and cash equivalents 87 115 60 002
Short-term derivatives 28 728 71 109
Derivative financial assets 5 958 108 917
Trade and other receivables 162 575 122 006
Prepayments 24 603 76 752
Prepayments for inventories 146 884 16 654
Total current assets 455 863 455 440
Investments to associates 346 014 296 061
Derivative and other financial assets 1 125 12 866
Long-term loans 9 072 15 736
Long-term requirements 176 024 160 540
Investment property 446 748 147 724
Property, plant and equipment 14 366 8 853
Intangible assets 11 300 10 192
Right-of-use assets 1 004 650 651 972
Total non-current assets 1 460 512 1 107 412
LIABILITIES AND EQUITY
Interest-bearing loans and borrowings 186 025 266 308
Payables to suppliers 74 751 19 845
Tax obligations 32 822 31 135
Buyers' advances 3 099 10 169
Other current liabilities 15 973 6 766
Total current liabilities 312 670 334 223
Interest-bearing loans and borrowings 255 135 160 897
Other long-term liabilities 30 865 18 076
Long-term provisions 8 399 649
Deferred taxes 33 233 24 890
Total non-current liabilities 327 632 204 512
Total liabilities 640 302 538 735
Share capital 2 105 1 985
Own shares -95 -95
Share premium 29 344 0
Reserve capital 28 143 84 162
risk hedging reserve* 24 118 82 307
Unrealized currency translation differences -39 3
Retained earnings 466 140 385 947
Net profit of the financial year 293 778 95 943
Total equity attributable to equity holders of the
Parent 819 376 567 945
Minority interests 834 732
Total equity 820 210 568 677
TOTAL LIABILITIES AND EQUITY 1 460 512 1 107 412
*This represents a change in the accounting for risk management positions, which
affects the consolidated profit result.
Consolidated statement of cash flows
Audited, EUR thousand
2023 2022
Cash flows from operating activities
Net profit of the financial year 302 440 101 702
Adjustments: -104 561 -39 818
Income tax paid -267 -4 051
Changes in assets related to op.activities 54 540 -116 072
Changes in inventories -61 914 3 667
Changes in liabilities related to op.activities -406 55 611
Net cash from operating activities 189 832 1 039
Cash flows from investing activities
Acquisition / reduction of capital of associates -113 728 -4 895
Given loans 0 -6 438
Paybacks from given loans, and interest gain 9 343 992
Purchases of property, plant and equipment -18 143 -14 250
Purchases Investment property -18 556 -23 881
Net cash used in investing activities -141 084 -48 472
Cash flows from financing activities
Received government grants 0 3 251
Changes in overdraft 14 348 -9 456
Proceeds from borrowings 130 567 193 397
Repayments of borrowings -312 846 -98 833
Repayment of finance lease liabilities -2 233 -2 037
Interest paid -22 224 -7 960
Dividends paid -15 750 -16 110
Proceeds from share emission 29 464 0
Net cash used in financing activities -21 635 62 252
TOTAL NET CASH FLOW 27 113 14 819
Cash at the beginning of the year 60 002 45 183
Cash at the end of the period 87 115 60 002
Net (decrease)/increase in cash 27 113 14 819
Cash flows from financing activities
Aktsiaselts Infortar consolidated annual report 2023 is attached to this notice
and will be made available on website www.infortar.ee/en/reports
(http://www.infortar.ee/en/reports).
Infortar operates in five countries, the company's main fields of activity are
energy, maritime transport, and real estate. Infortar owns a 42,3% stake in AS
Tallink Grupp, a 100% stake in AS Eesti Gaas and a versatile and modern real
estate portfolio of approx. 110,000 m2. In addition to the three main areas of
activity, Infortar also operates in construction and mineral resources,
printing, taxi business and many other areas. A total of 103 companies belong to
the Infortar group: 47 subsidiaries, 5 affiliated companies and 50 subsidiaries
of affiliated companies. Excluding affiliates, Infortar employs 1,308 people.
Additional information:
Kadri Laanvee
Investor Relations Manager
e-mail: [email protected] (mailto:[email protected])
phone: +372 5156662
https://infortar.ee/en/investor