The total consolidated sales revenue of Kaamos Group in 2020 was 78.5 million euros. The Group’s operating income before depreciation was approximately 19.5 million euros, an increase of 39 percent year-on-year.
“Despite the extraordinary year illustrated by the effects caused by COVID-19, the year was a success for Kaamos Group,” commented Marek Pohla, head of Kaamos Group.
“The first half of the year brought quite a few challenges and we could feel the immediate impact of the pandemic in the real estate sector and in timber industry. We reacted to the changes operatively with our team and today, we can say that thanks to the right management decisions, we were able to almost fully implement the goals we had set for our main activity”, the head of the company added.
In the real estate segment, the year 2020 was very successful for Kaamos’ sales and development activities – active development continued in the Avala Quarter where 11,000 m2 of A-class office premises and a parking house and the DEPO DIY store-warehouse were completed. In residential development, agreements were concluded for the sale of nearly 220 apartments in Estonia and Latvia. One of the most important goals for the near future is to continue mapping foreign markets in order to expand our real estate activities outside Estonia.
Last year, the production volume of Kaamos’ timber industry was nearly 230,000 m3, with a useful output of 47.7%, which is the largest production volume in the history of the company. Most of the production was sold by Kaamos Timber in export markets. Planned investments in the Mozyr sawmill in Belarus continued, where the company will be producing sawn timber starting in the second half of 2022.
The most important project in the energy sector was the largest solar park in Tallinn, established in 2020, with a design capacity of 1.4 MW, which supplies energy to the Avala Quarter.
“We are also moderately optimistic towards 2021 and ready to move forward with the investments. Although overall assessments of economic performance are improving, there are many variables that affect Kaamos’ day-to-day operations. The potential risks must be carefully assessed in order to make longer-term forecasts,” Pohla commented on this year’s situation.
Kaamos Group OÜ is a domestic capital-based investment company founded in 2002. Kaamos Group is engaged in real estate development, construction, timber industry and energy. At the end of 2020, the assets of Kaamos Group companies amounted to 206 million euros and equity to 117 million euros. Kaamos Group is an employer of more than three hundred people.
