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The construction market is in decline: the Estonian concrete producer is not doing well

Строительный рынок в упадке: дела у эстонского производителя бетона идут неважно

The downturn in the construction market last year left E-Betoonelement with only a third of its sales revenue. The manufacturer of concrete elements had to suffer losses for the fifth year in a row, writes Delovye Vedomosti. Workers prepare the area for concreting. Workers prepare the area for concreting. Photo: Toomas Huik.

The downturn in the construction market last year left E-Betoonelement with only a third of its sales revenue. The manufacturer of concrete elements had to suffer losses for the fifth year in a row, writes Delovye Vedomosti.

According to the annual report available in Äripäev Infopank, the company's sales revenue amounted to 12.7 million euros, and the operating loss reached 3.7 million euros in 2023, and the year before the turnover was 33.6 million euros, that is, the annual decrease was by 62%.

The company's results were affected by a strong drop in demand both in Estonia and in its main export markets – Finland and Sweden, the report said.

Due to decreased demand, production at the Tamsalu plant was closed from June 2023 and production volumes at the Harku plant were reduced.

Read more on dv.ee.

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