Hansa Group profit increases by 6.1% to 1.7 million euros
03. September 2019

OÜ Hansa Grupp, which is a group of transport companies active in the Baltic States, posted consolidated turnover of 49.3 million euros in 2018. The net profit of the group increased by 6.1% for the year, totalling 1.7 million euros.

According to the group, the turnover was generated in three main areas: services related to bus transport; services related to car hire; and services related to the sale and maintenance of commercial vehicles. The largest proportion of the profit was generated by vehicle rentals, followed by the sale and maintenance of cars. Passenger transport ended the year slightly in the red.

According to Neeme Tammis, the chairman of the management board of the Hansa Group, the companies in the group invested 4.5 million euros in fixed assets during the year. “The Estonian bus transport market finds itself in a complicated position,” he said via a press release. “There is a chronic shortage of labour and unfair competition between taxpaying and non-taxpaying companies.” He added that the company has continued to make investments in order to remain competitive.

“In our view, the state, being a significant client and the supervisor of the bus transport sector, should act more resolutely in dealing with unfair competition and ensuring service quality,” he said.

As at the end of 2018, the Hansa Group employed 709 people. The social and income taxes of the group amounted to 5.2 million euros during the year.

At the peak of the season, the group’s companies had rented out 1761 vehicles, while 400 buses were in use for transporting passengers. The companies in the Hansa Group purchased more than 5 million litres of fuel during the year. The group’s bus companies travelled ca 21 million km while transporting passengers.

The Hansa Group consists of the parent company OÜ Hansa Grupp, the AS Hansabuss group (in which it has an 87.5% holding), OÜ Moonsund Eco (in which it has a 45% holding) and AS IV Pluss, the OÜ Baltic Mobility group and Hansakredit OÜ (in all three of which it has a 100% holding).

In 2018, OÜ Hansa Grupp increased its holding in its subsidiary Hansarent OÜ to 100% and sold the total holding to Mobility Eesti OÜ, a company belonging to the consolidation group of its subsidiary OÜ Baltic Mobility. Hansarent OÜ and Mobility Eesti OÜ were merged, and the company now operates under the business name Hansarent OÜ.

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