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Turnover of Margus Linnamäe's business empire nearing €900 million

Margus Linnamäe.
Margus Linnamäe. Source: Magnum AS

The turnover of investment firm MM Grupp, owned in majority by businessman Margus Linnamäe, came to €893 million and profit to €35,6 million in the last business year.

MM Grupp is active in Estonia, Latvia, Lithuania and Finland and includes a wide range of different companies in fields ranging from the food industry to online commerce, journalism, real estate and pharmaceuticals wholesale.

The largest part of turnover – €489 million – was generated in Estonia, with Latvian businesses yielding €172 million and Finland €133 million. MM Grupp turnover grew by more than €170 million over the past year, with assets totaling €740 by late April.

The group's net profit was €35.64 million and investments over €44 million. No dividend payments are planned for the past year the 2021/2022 economic year.

MM Grupp invested in news agencies in Lithuania, acquired agricultural and forest land, expanded its movie theaters business in Estonia and Lithuania, launched expansions in the Lithuanian pharmacies market and in catering in Estonia and Latvia. An entry was also secured into the segment of marketing agencies.

Margus Linnamäe's group employed 4,848 people in late April, up from 3,962 same time last year.

MM Grupp includes medicines wholesaler Magnum, several pharmacy chains, Postimees Grupp, TV networks such as Kanal2 and KidZone, radio stations Kuku, Elmar and MyHits, as well as news agency BNS. Other notable businesses are Express Post, Biomarket, Pet City, iDeal, Forum Cinemas, Apollo movie theaters, shops and cafes etc.

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Editor: Karin Koppel, Marcus Turovski

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