Revenue of CF&S Estonia grows to 37 million euros

23.05.2012, 12:36

CF&S Estonia, the largest logistics and freight forwarding firm based on Estonian capital, increased its revenue nearly 24% last year, to almost 37 million euros.

According to member of the CF&S Estonia AS management board Kuno Väin, the financial year ended was the most successful of all time for the company. “Unaudited consolidated revenue grew 23.9% to 36.85 million euros and operating profit topped 2 million euros,” said Väin.

In 2011, CF&S Estonia AS invested over 2.3 million euros into various categories of means of transport.

Väin said the company is projecting moderate growth in freight volumes for this year. “In addition to Estonia, we are currently operating in Latvia and Russia, but we plan to expand our operating area in the near future,” said Väin.

Founded in 1997, the CF&S Estonia Group offers broad-based logistics services, which cover road, sea, railway and air transport as well as warehouse services. The group employs 90 people in three countries, and in Estonia the company has offices in Paldiski, Pärnu and Kunda in addition to Tallinn.

CF&S Estonia is part of the Baltic Maritime Logistics Group, whose companies are registered in eight countries in the field of freight forwarding, provision of ship and liner agency services, representation of ocean container lines,chartering, organisation of maritime, rail and road transport, provision ofport and stevedore services.