Estonia’s most valuable companies are Tallink, Swedbank and Eesti Energia

Estonia’s most valuable companies are the shipping operator, Tallink; the subsidiary of the Swedish banking giant, Swedbank; and the local energy company, Eesti Energia, according to the data compiled by Prudentia, a mergers and acquisitions advisory company, and Nasdaq Tallinn, the central stock exchange.

The Top 101 of Estonia’s Most Valuable Enterprises is based on the data as of the end of 2018, Prudentia and Nasdaq Tallinn said in a joint statement. “The global economic crisis accompanied by the coronavirus has currently made extensive adjustments to the value of enterprises; however, fixing the pre-crisis values was necessary to make sure that we have a better picture in the following years of the changes and developments on the business landscape,” they said.

According to Illar Kaasik, the managing partner at Prudentia, the initiator of the top 101, the current and future tops enable a time series of data to be generated, which can be used to analyse the trends and changes through the economic cycles.

The complete top is available online.

Assessment of the value and importance

To create the top, the compilers assessed the value of the enterprise and its importance for the Estonian economy, regardless of its capital structure. An exception is financial services providers (such as banks and insurance companies), for which the equity value was assessed.

Prudentia, one of the compilers of the top, is a corporate finance advisory company with offices in Tallinn and Riga. It offers its clients expertise in the local financial industry and capital market.

Nasdaq is one of the world’s leading providers of trading, stock exchange technology, listing, information and public company services, operating on six continents.

Cover: One of the ferries of Tallink, the Star.

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