Milrem ASRegistered
Key figures
46 137 000 €+125,7%
Revenue 2025
+49,4%
Average annual growth 2019–2025
Ratios
2025−52,2%
Profit margin
−34,8%
EBITDA margin
−42,4%
Equity ratio
1,2×
Current ratio
62,6%
Return on equity
4940 €
Average gross salary
Balance sheet structure
Current assetsNon-current assetsLiabilitiesEquity
Quarterly figures
| Quarter | Revenue | Number of employees | Labour taxes |
|---|---|---|---|
| Q2 2026 | 14 948 572 € | 286 | 2 378 642 € |
| Q1 2026 | 41 175 200 € | 292 | 2 421 671 € |
| Q4 2025 | 27 402 742 € | 305 | 2 817 043 € |
| Q3 2025 | 5 264 018 € | 342 | 2 608 185 € |
| Q2 2025 | 5 036 926 € | 322 | 2 458 784 € |
| Q1 2025 | 18 840 841 € | 308 | 2 605 394 € |
Source: Tax Board open data — based on VAT returns, may not exactly match revenue in the annual report. Updated quarterly.
Summary of financial statements2019–2025
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|
| Balance sheet — assets | |||||||
| Total current assets | 2 560 381 | 3 540 213 | 12 116 000 | 13 844 000 | 19 022 000 | 30 004 000 | 60 007 000 |
| Total non-current assets | 7 744 344 | 11 851 462 | 14 809 000 | 16 716 000 | 18 419 000 | 23 651 000 | 30 674 000 |
| Total assets | 10 304 725 | 15 391 675 | 26 925 000 | 30 560 000 | 37 441 000 | 53 655 000 | 90 681 000 |
| Balance sheet — liabilities and equity | |||||||
| Current liabilities | 5 031 963 | 9 582 491 | 11 851 000 | 17 596 000 | 16 752 000 | 26 763 000 | 51 132 000 |
| Non-current liabilities | 3 500 000 | 0 | 3 352 000 | 8 339 000 | 21 000 000 | 41 270 000 | 78 022 000 |
| Total liabilities | 8 531 963 | 9 582 491 | 15 203 000 | 25 935 000 | 37 752 000 | 68 033 000 | 129 154 000 |
| Share capital | 27 848 | 31 573 | 38 000 | 38 000 | 38 000 | 38 000 | 38 000 |
| Retained earnings of previous periods | −2 197 935 | −3 280 251 | −2 741 000 | −3 948 000 | −11 045 000 | −15 981 000 | −30 048 000 |
| Profit for the year | −1 082 316 | 1 017 448 | −1 207 000 | −7 097 000 | −4 936 000 | −14 067 000 | −24 095 000 |
| Reserves and other equity | 5 025 165 | 8 040 414 | 15 632 000 | 15 632 000 | 15 632 000 | 15 632 000 | 15 632 000 |
| Total equity | 1 772 762 | 5 809 184 | 11 722 000 | 4 625 000 | −311 000 | −14 378 000 | −38 473 000 |
| Income statement | |||||||
| Sales revenue | 4 154 195 | 8 518 871 | 5 413 000 | 9 250 000 | 19 041 000 | 20 445 000 | 46 137 000 |
| Operating profit | −534 982 | 1 650 540 | −708 000 | −6 370 000 | −3 400 000 | −11 220 000 | −18 031 000 |
| EBITDA | −205 286 | 2 246 617 | −74 000 | −5 667 000 | −1 944 000 | −9 568 000 | −16 059 000 |
| Profit before income tax | −1 082 316 | 1 017 448 | −1 207 000 | −7 097 000 | −4 936 000 | −14 067 000 | −24 095 000 |
| Profit for the reporting year | −1 082 316 | 1 017 448 | −1 207 000 | −7 097 000 | −4 936 000 | −14 067 000 | −24 095 000 |
| Labour costs | 4 430 312 | 5 507 937 | 7 761 000 | 11 098 000 | 14 207 000 | 20 233 000 | 28 646 000 |
| Depreciation of non-current assets | 329 696 | 596 077 | 634 000 | 703 000 | 1 456 000 | 1 652 000 | 1 972 000 |
| Other indicators | |||||||
| Employees | 0 | 115 | 0 | 166 | 190 | 243 | 330 |
| Calculated dividend | — | 0 | 0 | 0 | 0 | 0 | 0 |
A dash (—) means the report has not been filed or the line is not reported; 0 is a zero stated in the report.
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