FINESTA BALTIC OÜ current status
This company's branding has already reached 7,503 peopleand his is followed by 33 Storybook users.On average, the company has been rated 3.9 points.and commented 80 times.
's activity report 2022
Finesta Baltic OÜ was established in July 2008. The company operates in Estonia, Finland, Switzerland, Lithuania, and Latvia, providing personnel search, personnel rental, and business contact services. Finesta Baltic OÜ offers temporary staffing and outsourced services to Estonian companies, as well as recruitment services and business contacts to other companies operating in the EU.
Consolidation group structure: The group includes Finesta Baltic OÜ, Finesta Finland Oy, Finesta Lithuania UAB, and Finesta Latvia SIA.
No changes are currently planned in the composition of the consolidation group for the next financial year.
During the financial year, there were no events that affected the financial position or results of the consolidation group. Nor has the business been affected by seasonality or cyclicality. No general economic trends affecting the economic development of the consolidation group can be identified.
The consolidation group uses financial instruments offered by financial institutions such as factoring for financing long-term payments and investment loans for financing real estate investments. The purpose of using financial instruments is to maintain liquidity at a sufficiently high level.
The dividend policy is very conservative, as liquidity must be maintained at a sufficiently high level when paying dividends.
General economic slowdown negatively affects financial results in the big picture. However, different industries have different influencing factors.
In some industries, a significant influencing factor is the increase in energy prices, which is affected by the war in Ukraine. However, in sectors that work with renewable energy or the military, the situation is very stable. High inflation also puts pressure on operating costs, which negatively affects financial results.
The consolidation group does not have significant environmental and social impacts.
During the financial year, there were no risks associated with changes in exchange rates and stock market prices related to business activities, while the increase in interest expenses negatively affected net profit.
Revenues, expenses, and profit: The total consolidated sales revenue for 2022 is 13,009,573 euros and for 2021 it was 9,721,731, with a net profit of 349,521 in 2022 and 110,140 in 2021.
2022 was a recovery year for Finesta after the coronavirus. The major change was the transition from country-based organizational models to business sector organizations, which are "Industry", "Horeca", and "IT". At the same time, new digital tools were implemented for recruitment, candidate, and sales process management.
The goal of the Finesta group in 2023 is to further increase volumes and enter new markets.
As of the end of 2022, the Finesta group employed 30 office workers, with a wage cost of 915,542 euros.
Main financial ratios: 2022 2021
Sales revenue 13,009,573 9,721,731
Gross profit margin 15.23 9.27
Net profit 349,521 110,140
Net profitability 2.69 1.13
Short-term obligations coverage ratio 1.78 2.22
ROA 3.69 1.28
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