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Enterprise Estonia posts €756,000 net gain for 2017

Enterprise Estonia (EAS).
Enterprise Estonia (EAS). Source: (Enterprise Estonia)

The operating income of Enterprise Estonia in 2017 totaled €100.7 million and operating costs approximately €100 million, with the foundation's net gain for the year totaling €755,500.

 Translated into full-time positions, the foundation employed an average of 276 people last year, and labour costs totaled €9.7 million, it appears from Enterprise Estonia's annual report.

In 2016, in comparison, Enterprise Estonia employed a total of 267, with labour costs totaling €9.6 million.

Last year, a total of €102 million in investments were brought to and 1,055 jobs created in Estonia, the foundation said. 194 key customers utilised the services of the Enterprise Estonia portfolio, and the aggregate export sales revenue of companies in its client portfolio totaled €5.4 billion.

In the entrepreneurship and export sphere, Enterprise Estonia provided support to over 50 companies in the total amount of €13.9 million. E-residents established 1,542 businesses in 2017, which surpassed the goal of 1,500 e-resident established companies.

In tourism, 2017 was a very successful year for Estonia, with tourist numbers growing seven percent on year. The foundation supported seven new family attractions and international sports and cultural events. Revenue from tourism grew by an estimated €100 million on year to €1.8 billion, and altogether 3.5 million tourists stayed at Estonian accommodation establishments last year.

The foundation's 2018 targets include an increase of €100 million in export sales by Enterprise Estonia customers, the creation of 1,000 jobs as a result of foreign investments, and €150 million in foreign investments made with the help of Enterprise Estonia.

Editor: Aili Vahtla

Source: BNS

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