Estonia’s custom furniture producer sees rapid turnover
Harjumaa-based Sarkop AS, a creator of custom furniture, has managed to grow its turnover by 59% in the last year to 7.85 million euros, supported by vigorous export to Finland.
The company, which is 100% owned by Estonian capital, exported 95% of its production in 2012 with Finland as its main market. The company also saw a record profit in 2012, which is at about 5% of the turnover according to preliminary figures.
The company’s CEO, Priit Kerma, said that 2012 was an important year for the company. In addition to all-time high economic results, a new strategic investor entered the company: Scanarius OÜ, which is co-owned by Skype founder Toivo Annus. The investment raised the company’s equity by one million euros and helped to refinance all of its debts. The company founders Priit Kerma and Ermet Tari still kept their majority in share capital and continue to manage the company on a day-to-day basis.
This year the company plans to grow between 10–25%, supported by export. “The aim is to grow at the same speed as last year. It is not wise to grow more rapidly, as there will be a negative impact on client service,” Kerma said.
The company also plans to hire at least two more employees this year. Last year it hired five new employees and has a staff of 77. The company plans to invest 200,000–300,000 euros this year, having an eye on new design software and new equipment for the factory.
In 2012, the company also saw a breakthrough in terms of product development with the introduction of an innovative office solution series called “Into”, which enables the division of office space easily into smaller segments, smaller conference rooms as well as into open space area.
Sarkop, founded in 1992, is one of the largest custom furniture producers in Finland, having done the interior solutions for Scandic, Sokos and Radisson Blu hotels, Helsinki Vantaa Airport, etc. In Estonia, its work can be seen at the offices of Skype, EMT and Swedbank, as well as at KUMU art museum and Radisson Blu and Swissotel hotels.
Source: Mallene, L. (2013). Skype'i asutaja mööblifirma kasvas gasellina. Äripäev, 13. veebruar.