AS GRAANUL INVEST
Active Registry code 10990825
AS Tallinn Registered 25 Nov 2003
AS GRAANUL INVEST is a AS based in Tallinn, registry code 10990825, status: active. Main activity: Manufacture of solid fuels from vegetable biomass. According to EMTA, turnover for Q3 2026 was €81 349 215 with 67 employees.
Turnover
81 349 215 €
↓ 8.5% vs Q2 2026
State taxes
0 €
Labour taxes
609 274 €
↓ 18.8% vs Q2 2026
Employees
67
+1 vs Q2 2026
Q3 2026 · data from the Tax and Customs Board (EMTA)
Position in the industry
- Turnover · Q3 2026 81.3 mn €above 98% of companiesindustry median 42 074 € · companies in the industry: 969
- Labour taxes per employee 9 094 €above 98% of companiesindustry median 1 604 € · companies in the industry: 775
- Revenue · 2025 234.5 mn €above 98% of companiesindustry median 44 569 € · companies in the industry: 1 338
Taxes and turnover
- Company
- Industry median
Industry: Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials (the EMTAK division of the main activity). Median: half of the industry is above, half below.
- Company
- Industry median
Industry: Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials (the EMTAK division of the main activity). Median: half of the industry is above, half below.
| Quarter | Turnover, € | State taxes, € | Labour taxes, € | Employees |
|---|---|---|---|---|
| Q3 2026 | 81 349 215 | — | 609 274 | 67 |
| Q2 2026 | 88 949 891 | — | 750 613 | 66 |
| Q1 2026 | 147 164 188 | — | 631 069 | 64 |
| Q4 2025 | 68 943 498 | 1 132 596 | 537 207 | 64 |
| Q3 2025 | 20 378 525 | 541 467 | 548 001 | 63 |
| Q2 2025 | 75 159 483 | — | 689 119 | 63 |
| Q1 2025 | 103 736 006 | — | 598 121 | 63 |
| Q4 2024 | 63 592 078 | — | 517 822 | 68 |
| Q3 2024 | 22 211 417 | — | 658 852 | 72 |
| Q2 2024 | 75 566 951 | — | 650 704 | 70 |
| Q1 2024 | 133 943 996 | — | 578 171 | 72 |
| Q4 2023 | 48 186 329 | — | 497 174 | 72 |
| Q3 2023 | 86 361 626 | — | 864 021 | 71 |
| Q2 2023 | 81 446 714 | — | 456 870 | 70 |
| Q1 2023 | 180 279 340 | — | 529 057 | 69 |
| Q4 2022 | 90 258 993 | — | 527 536 | 67 |
| Q3 2022 | 92 549 333 | — | 579 971 | 66 |
| Q2 2022 | 51 678 487 | — | 431 552 | 64 |
| Q1 2022 | 80 418 607 | — | 458 113 | 64 |
Labour taxes per employee per month
3 031 €
Turnover per employee in the quarter
1 214 167 €
Q3 2026 · calculated from EMTA data
Financials by year
- Company
- Industry median
Industry: Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials (the EMTAK division of the main activity). Median: half of the industry is above, half below.
- Company
- Industry median
Industry: Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials (the EMTAK division of the main activity). Median: half of the industry is above, half below.
- Company
- Industry median
Industry: Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials (the EMTAK division of the main activity). Median: half of the industry is above, half below.
- Company
- Industry median
Industry: Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials (the EMTAK division of the main activity). Median: half of the industry is above, half below.
| Year | Revenue, € | Net profit, € | Labour costs, € | Assets, € | Equity, € | Employees |
|---|---|---|---|---|---|---|
| 2025 | 234 453 000 | — | — | 262 430 000 | — | 70 |
| 2024 | 222 881 000 | 35 626 000 | 5 244 000 | 259 062 000 | 208 267 000 | 69 |
| 2023 | 241 972 000 | 15 404 000 | 6 013 000 | 279 601 000 | 172 642 000 | 78 |
| 2022 | 280 980 000 | 46 030 000 | 4 423 000 | 285 787 000 | 157 238 000 | 75 |
| 2021 | 216 083 000 | 71 570 000 | 5 726 000 | 273 609 000 | 111 208 000 | 186 |
| 2020 | 348 475 000 | — | — | 271 525 000 | — | 63 |
| 2019 | 319 552 000 | 42 251 000 | 3 781 000 | 284 580 000 | 156 083 000 | 63 |
| 2018 | — | — | — | — | — | 62 |
| 2017 | — | — | — | — | — | 60 |
| 2016 | — | — | — | — | — | 60 |
| 2015 | — | — | — | — | — | 49 |
| 2014 | — | — | — | — | — | 48 |
| 2013 | — | — | — | — | — | 48 |
| 2012 | — | — | — | — | — | 55 |
| 2008 | — | — | — | — | — | 115 |
| 2007 | — | — | — | — | — | 110 |
| 2004 | — | — | — | — | — | 11 |
| 2003 | — | — | — | — | — | 0 |
Figures from the company’s own (non-consolidated) balance sheet and income statement. A loss is shown with a minus sign.
Financial ratios for 2025
Revenue per employee
3 349 329 €
Revenue / average full-time employees
Annual reports
| Year | Period | Filed | Report | Documents |
|---|---|---|---|---|
| 2025 | 1 Jan 2025 – 31 Dec 2025 | 29 Jun 2026 | Consolidated · audited | e-Äriregister |
| 2024 | 1 Jan 2024 – 31 Dec 2024 | 24 Jul 2025 | Company’s own · audited | e-Äriregister |
| 2023 | 1 Jan 2023 – 31 Dec 2023 | 29 May 2024 | Consolidated · audited | e-Äriregister |
| 2022 | 1 Jan 2022 – 31 Dec 2022 | 30 Jun 2023 | Consolidated · audited | e-Äriregister |
| 2021 | 1 Jan 2021 – 31 Dec 2021 | 27 Jun 2022 | Consolidated · audited | e-Äriregister |
| 2020 | 1 Jan 2020 – 31 Dec 2020 | 30 Jun 2021 | Consolidated · audited | e-Äriregister |
| 2019 | 1 Jan 2019 – 31 Dec 2019 | 29 Jun 2020 | Consolidated · audited | e-Äriregister |
Board
- Nasdaq CSD SEKeeper of the share ledger · since 28 Sep 2017
- Rain SilivaskBoard member · since 11 Jun 2007
- Mihkel JugasteBoard member · since 20 Dec 2022
- Jaano HaidlaBoard member · since 25 Apr 2025
- Mark Douglas James McConnellBoard member · since 29 Apr 2026
- Lars Christian BacherBoard member · since 25 Jun 2026
Right of representation
Any member of the management board may represent the public limited company in all transactions.
Owners
No owner information.
Owner in
- 100%
- 100%
- 100%
- 100%
- 100%
Beneficial owners
- Waleed ElgoharyMember of a senior management body (management or supervisory board) · since 1 Sep 2025
- Claudiu HortuMember of a senior management body (management or supervisory board) · LUX · since 26 Feb 2025
- Efisio FollesaMember of a senior management body (management or supervisory board) · ITA · since 9 Feb 2023
- Fabien Emmanuel MorelliMember of a senior management body (management or supervisory board) · FRA · since 9 Feb 2023
- Andres RätseppRight to appoint or remove most of the management · since 19 Dec 2021
- Bradley Regal FiersteinRight to appoint or remove most of the management · USA · since 19 Dec 2021
Founders and other persons
- Aktsiaselts Pellet InvestFounder · 400 000 € · 25 Nov 2003
- Aktsiaselts PricewaterhouseCoopersAudit firm · 7 Jan 2021
- Bradley Regal FiersteinChairman of the supervisory board · 7 Oct 2026
- Raul KirjanenSupervisory board member · 27 Jan 2023
- Waleed ElgoharySupervisory board member · 17 Oct 2023
- David Patrick StangisSupervisory board member · 5 Mar 2026
- James LaiSupervisory board member · 20 Mar 2026
- Andres RätseppSupervisory board member · 7 Oct 2026
- Omanikukonto: Cullinan Holdco SCSpShareholder · 10 800 000 € · 16 Aug 2023
Related companies
Activities (EMTAK)
- 16261Manufacture of solid fuels from vegetable biomass Main
Rulings
All rulings (PDF)| Number, date | Title | Deadline | State | Document |
|---|---|---|---|---|
| Ä 10075988 / 38 25 Jun 2026 |
Amendment entry | In force 25 Jun 2026 |
||
| Ä 10075988 / M8 10 Jun 2026 |
Ruling to eliminate deficiencies | 10 Jul 2026 | Deficiencies eliminated 25 Jun 2026 |
|
| Ä 10075988 / 37 29 Apr 2026 |
Amendment entry | In force 29 Apr 2026 |
||
| Ä 10075988 / 36 25 Apr 2025 |
Amendment entry | In force 25 Apr 2025 |
||
| Ä 10075988 / M7 9 Jun 2023 |
Ruling to correct data outside an entry | 23 Jun 2023 | Deficiencies eliminated 14 Jun 2023 |
|
| Ä 10075988 / 35 16 Feb 2023 |
Amendment entry | In force 16 Feb 2023 |
||
| Ä 10075988 / 34 20 Dec 2022 |
Amendment entry | In force 20 Dec 2022 |
||
| Ä 10075988 / 33 9 Aug 2022 |
Amendment entry | In force 9 Aug 2022 |
||
| K 10075988 / 32 30 Nov 2021 |
Commercial pledge deleted | In force 30 Nov 2021 |
||
| Ä 10075988 / 31 29 Dec 2020 |
Division entry (second, constitutive) | In force 29 Dec 2020 |
||
| Ä 10075988 / 30 26 Oct 2020 |
Amendment entry | In force 26 Oct 2020 |
||
| Ä 10075988 / 29 29 Jun 2020 |
Amendment entry | In force 29 Jun 2020 |
||
| K 10075988 / 28 18 Sep 2019 |
Commercial pledge amended | In force 18 Sep 2019 |
||
| Ä 10075988 / 27 17 Jan 2018 |
Amendment entry | In force 17 Jan 2018 |
||
| Ä 10075988 / 26 8 Nov 2017 |
Amendment entry | In force 8 Nov 2017 |
||
| Ä 10075988 / M6 3 Oct 2017 |
Ruling to eliminate deficiencies | 2 Nov 2017 | Deficiencies eliminated 3 Oct 2017 |
|
| Ä 10075988 / 25 3 Oct 2017 |
Amendment entry | In force 3 Oct 2017 |
||
| Ä 10075988 / 24 28 Sep 2017 |
Amendment entry | In force 28 Sep 2017 |
||
| Ä 10075988 / 23 31 Aug 2016 |
Amendment entry | In force 31 Aug 2016 |
||
| Ä 10075988 / M5 10 May 2016 |
Ruling to correct data outside an entry | 9 Jun 2016 | Deficiencies eliminated 16 May 2016 |
|
| K 10075988 / 22 7 Jul 2015 |
Commercial pledge amended | In force 7 Jul 2015 |
||
| Ä 10075988 / 21 27 Jan 2015 |
Amendment entry | In force 27 Jan 2015 |
||
| Ä 10075988 / M4 23 Jan 2015 |
Ruling to eliminate deficiencies | 12 Feb 2015 | Deficiencies eliminated 27 Jan 2015 |
|
| K 10075988 / 20 30 May 2014 |
Commercial pledge amended | In force 30 May 2014 |
||
| Ä 10075988 / 19 17 Sep 2013 |
Amendment entry | In force 17 Sep 2013 |
||
| K 10080191 / 6 20 Jul 2011 |
Commercial pledge entered | In force 20 Jul 2011 |
||
| K 10080191 / 5 20 Jul 2011 |
Commercial pledge deleted | In force 20 Jul 2011 |
||
| K 10080191 / 4 20 Jul 2011 |
Commercial pledge deleted | In force 20 Jul 2011 |
||
| Ä 10075988 / 18 1 Mar 2011 |
Amendment under Commercial Code § 525 (2) | In force 1 Mar 2011 |
||
| Ä 10075988 / 17 4 Feb 2011 |
Amendment entry | In force 4 Feb 2011 |
||
| Ä 10075988 / M3 21 Jan 2011 |
Ruling to eliminate deficiencies | 11 Feb 2011 | Deficiencies eliminated 2 Feb 2011 |
|
| Ä 75988 / 16 15 Jun 2009 |
Amendment entry | In force 15 Jun 2009 |
||
| Ä 75988 / 15 5 Jan 2009 |
Deletion of activities from the registry card | In force 8 Jan 2009 |
||
| Ä 75988 / 14 13 Oct 2008 |
Amendment entry | In force 13 Oct 2008 |
||
| Ä 75988 / 13 31 Dec 2007 |
Amendment entry | In force 31 Dec 2007 |
||
| Ä 75988 / 12 23 Aug 2007 |
Second (constitutive) merger entry | In force 23 Aug 2007 |
||
| K 80191 / 3 20 Jul 2007 |
Commercial pledge entered | In force 20 Jul 2007 |
||
| K 80191 / 2 18 Jul 2007 |
Commercial pledge amended | In force 20 Jul 2007 |
||
| Ä 75988 / 11 11 Jun 2007 |
Entry made by the register on its own initiative | In force 11 Jun 2007 |
||
| Ä 75988 / 10 6 Jun 2007 |
Second (constitutive) merger entry | In force 6 Jun 2007 |
||
| Ä 75988 / 9 3 May 2007 |
Amendment entry | In force 3 May 2007 |
||
| Ä 75988 / M2 11 Apr 2007 |
Ruling to eliminate deficiencies (to be served) | 13 May 2007 | In force 13 Apr 2007 |
|
| Ä 75988 / 8 12 Dec 2006 |
Amendment entry | In force 12 Dec 2006 |
||
| Ä 75988 / 7 23 Oct 2006 |
Entry to enforce another court decision | In force 27 Oct 2006 |
||
| Ä 75988 / 6 5 Oct 2006 |
Entry made by the register on its own initiative | In force 5 Oct 2006 |
||
| Ä 75988 / 5 3 Oct 2006 |
Amendment entry | In force 3 Oct 2006 |
||
| Ä 75988 / 4 16 Jun 2006 |
Amendment entry | In force 16 Jun 2006 |
||
| Ä 75988 / 3 15 Jul 2004 |
Amendment entry | In force | ||
| K 80191 18 May 2004 |
Commercial pledge entered | In force | ||
| Ä 75988 / 2 9 Mar 2004 |
Amendment entry | In force | ||
| Ä 75988 25 Nov 2003 |
First entry | In force | ||
| Ä 75988 / M1 19 Nov 2003 |
Ruling to eliminate deficiencies (to be served) | In force |
Sources: e-Äriregister and EMTA. Data updated 2 Nov 2026. Open at the source ↗ · Report an error in the data