According to the audited annual accounts of Transpordi Varahaldus OÜ for 2018 the company’s profit for the last financial year were 3.6 million euros at a turnover of 7.9 million euros. Compared to the previous financial year 2017 the company’s turnover increased 14% while its profit went up by 24%. The annual accounts of the company were audited by AS Deloitte Audit Eesti. The Minister of Economy and Infrastructure, acting in the name of the sole shareholder of TVH, approved the annual accounts at the meeting of shareholders on 15.05.2019.
TVH Management Board Member Ergo Blumfeldt said that the most important event in 2018 was the expansion of the company’s fleet from six aircraft to seven. In December 2018 TVH acquired a Bombardier CRJ900 aircraft and leased it to the Estonian national airline Nordica. The transaction was financed with 10 million euros through a bonds issue which were acquired by LHV Bank and LHV funds in equal parts.
TVH is a fully state-owned company, the objective of which is to function as an investment entity that finances and manages investments in fixed assets in the transport sector, incl. investments for leasing purposes. The company owns seven 88-seater Bombardier CRJ900 NG jet aircraft.