Geographical expansion to new markets and implementation of outstanding projects lead to a 30 percent increase in Nortal Group’s EBITDA in 2016, exceeding 5.2 million euros. Nortal’s total consolidated revenue was 43.5 million euros.
“2016 is the best year in our history, we are paying our employees a record amount of bonuses and we are planning to distribute more than 800,000 euros of dividends from retained earnings to our shareholders. Nortal’s business outlook is good, profitability is strong and we are proud to be a company that is fully owned by its employees,” Nortal CEO and founder Priit Alamäe said. “Successful merger with leading Northern-European marketing automation company Element in October marked Nortal’s expansion to Sweden and in December Nortal expanded its operations to the United Arab Emirates by opening an office and establishing a local entity in Dubai,” Alamäe added.
Among some of the most outstanding projects of 2016 and major impacts delivered, Alamäe named the successful delivery of a fully automated Smart Harbour solution to the Port of Tallinn; the information system TETRIS that helped Estonian Unemployment Fund to meet the requirements of the Work Ability Reform, one of the biggest reforms in Estonia from last years; and the Invest Easy portal for Oman that propelled Oman 127 places up in the Ease of Doing Business Ranking of World Bank’s annual Doing Business 2017.