Infortar's Q3 2024: Navigating Economic Challenges and Strategic Investments

Aktsiaselts Infortar, a diversified Estonian holding company, recently held an investor webinar to present its Q3 2024 financial results. The webinar, hosted on Microsoft Teams, was attended by the company's top management, including Chairman of the Board Ain Hanschmidt, Managing Director Martti Talgre, and Investor Relations Manager Kadri Laanvee. This article explores the key highlights of Infortar's Q3 2024 performance, focusing on the impact of the voluntary takeover bid for AS Tallink Grupp, economic challenges in core markets, strategic investments, and geopolitical tensions.


Infortar's voluntary takeover bid for AS Tallink Grupp, which increased its stake to 68.5%, had a significant impact on the company's Q3 financial performance. The acquisition brought additional liquidity to the market and provided an exit opportunity for Tallink shareholders, contributing to Infortar's overall revenue and EBITDA.


The economic challenges in Infortar's core markets, such as low consumer and business confidence levels, played a role in the company's Q3 results. However, Infortar's strategic investments in energy, real estate, and other sectors helped mitigate the impact of these challenges. The company's diversified portfolio allowed it to maintain profitability despite the economic headwinds.

Infortar's investments in energy, particularly its ownership of Eesti Gaas, contributed to its Q3 financial performance. Eesti Gaas, operating under the name Elenger in foreign markets, increased its sales volume by 40% compared to the previous half-year, totaling 10 TWh. The company's market share in the Finnish-Baltic gas market reached 25.4%. Infortar's expansion into Poland, Germany, and access to the wholesale gas market in the Netherlands and Belgium also contributed to its Q3 results.


Infortar's investments in the construction of the RIMI logistics center and the new bridge in Pärnu further supported its Q3 financial outcomes. These projects, along with the opening of a solar park in Nica, Latvia, demonstrated the company's commitment to strategic growth and diversification.

Geopolitical tensions also had an impact on Infortar's Q3 financial results. Mounting global geopolitical tensions affected demand for the company's services, particularly in its core markets. However, Infortar's diversified portfolio and strategic investments helped the company navigate these challenges and maintain profitability.

In conclusion, Infortar's Q3 2024 performance was marked by strategic investments, economic challenges, and geopolitical tensions. The company's increased stake in Tallink, investments in energy and real estate, and expansion into new markets contributed to its financial success. Despite the economic headwinds and geopolitical uncertainties, Infortar's diversified portfolio and strategic growth initiatives positioned the company for continued success.