On the 13th of February, the city of Tallinn held the annual event Gazelle Congress, where top-managers and company owners shared the stories of success. Also, the organizers announced the list of the fastest-growing companies in Estonia. Who made their way to the TOP 10?
Gazelle is a company whose revenue and income saw at least 50% growth. Around 1000 companies, whose profits doubled, tripled, or even grew by tenfold throughout the previous year, enter the list every year. But overall, there are only about 1% of Estonian companies in the Gazelle TOP.
Gazelle TOP 10 in the year 2020:
1. NV Trade OÜ
Main activity:
The sale of fuels, ores, metals, and industrial chemicals
Revenue in the year 2018:1 862 886
Operating income (EBIT) in the year 2018: 382 292
2. Smartech Shop OÜ
Main activity:
Retail sale of computers, peripheral units, and software in specialized stores
Revenue in the year 2018: 964 390
Operating income (EBIT) in the year 2018: 122 740
3. Imex Oil Trade OÜ
Main activity:
The sale of fuels, ores, metals, and industrial chemicals.
Revenue in the year 2018: 5 134 283
Operating income (EBIT) in the year 2018: 399 138
4. Tristore OÜ
Main activity:
Operation of sports facilities and tour operator activities
Revenue in the year 2018: 876 971
Operating income (EBIT) in the year 2018: 49 519
5. BHH Baltic OÜ
Main activity:
Wholesale of wood and construction materials
Revenue in the year 2018: 1 765 793
Operating income (EBIT) in the year 2018: 74 143
6. Tandem Kaubandus OÜ
Main activity:
Activities of head offices, wholesale of wood, construction materials and sanitary equipment, constructional designing, and tax consultancy.
Revenue in the year 2018: 2 228 290
Operating income (EBIT) in the year 2018: 611 294
7. Energiatehnika OÜ
Main activity:
Wholesale of electrical material and their requisites and electrical machines, inc cables
Revenue in the year 2018: 2 656 605
Operating income (EBIT) in the year 2018: 413 219
8. Roteh Grupp OÜ
Main activity:
Construction of residential and non-residential buildings
Revenue in the year 2018: 3 017 810
Operating income (EBIT) in the year 2018: 479 549
9. Smartvent Group OÜ
Main activity:
Installation of heating, ventilation and air conditioning equipment
Revenue in the year 2018: 1 057 457
Operating income (EBIT) in the year 2018: 72 377
10. Pühaste Pruulikoda OÜ
Main activity:
Manufacture of beer
Revenue in the year 2018: 701 067
Operating income (EBIT) in the year 2018: 167 661
Estonian IT-company RIA.com Marketplaces, which has grown over 50% as a result of a successful business in Ukraine, also was a nominee for the Gazelle TOP. The company is known thanks to its projects AUTO.RIA.com (one of the world’s TOP 6 car-selling websites) and DOM.RIA.com (real estate website, which received the well-known brand award in Ukraine). The company’s board member Artem Umanets tells that in the following years, the IT-sector will have a real breakthrough in Estonia.
“Nowadays, IT-sector generates more than 15% percent of Estonia’s GDP. Thousands of IT specialists have moved to our country in the last few years. Within a few years, small IT-companies will reach a new, significant level. I believe that in the year 2025, around one-third of companies in the Gazelle TOP will be from IT-sector”, tells Artem Umanets “We can take our company as an example. It saw a 50% growth throughout the last year, and our analysts predict that this growth will also continue in the following years. Therefore, we plan to commit the IPO, but in the near term, we will enter the Nasdaq First North market at the Tallinn Stock Exchange.
