2017 was a very exciting year for BaltCap with the main highlight being the launch of two new investment funds – BaltCap Infrastructure Fund and BaltCap Growth Fund – under a brand new limited partnership funds regime (Usaldusfond) in Estonia. We also witnessed a significant progress in the environmental, social and governance (“ESG”) performance of our porfolio companies and are happy to share the results by presenting our 7th annual ESG report.
Our portfolio companies posted strong results in 2017 – the aggregate revenues reached €615 million, EBITDA €60 million and the total number of employees 7,533. During BaltCap’s ownership, the aggregate revenues and EBITDA have grown over two times and the number of employees has increased more than 50%.
During 2017, our 33 portfolio companies created approximately 200 new job positions and:
– paid €112 million of net salaries, including €70 million in the Baltic States (€34 million in Estonia, €10 million in Latvia, and €26 million in Lithuania);
– paid €78 million of taxes, including €49 million in the Baltic States (€25 million in Estonia, €6 million in Latvia, and €18 million in Lithuania);
– invested €30 million to equipment, machinery, new premises, IT systems, etc. (capital expenditure), including €29 million in the Baltic States (€11 million in Estonia, €5 million in Latvia, and €13 million in Lithuania).
Please see our full 2017 ESG report available here: 2017 ESG report
BaltCap strives to build Baltic companies into internationally recognised business champions. The latest proof is Tallinn headquartered full-service aircraft maintenance company Magnetic MRO – during BaltCap’s ownership between 2010-2018, Magnetic MRO grew from a small regional player to a profitable global company. In 2017, Magnetic MRO received Company of the Year and Exporter of the Year awards in Estonia. In 2018, BaltCap exited Magnetic MRO to an international strategic buyer Guangzhou Hangxin Aviation Technology listed on Shenzhen Stock Exchange in China.
The investors of BaltCap’s investment funds include Baltic pension funds and international institutions – the European Investment Fund, the European Bank for Reconstruction and Development (EBRD), the European Investment Bank and others.
Co-Managing Partner, BaltCap
Phone: +372 665 0280