GRK Eesti AS

Active Registry code 12579850 AS Tartu linn Registered 5 Dec 2013

GRK Eesti AS is a AS based in Tartu linn, registry code 12579850, status: active. Main activity: Construction of railways and underground railways. According to EMTA, turnover for Q3 2026 was €15 025 338 with 106 employees.

Turnover

15 025 338 €

↓ 59.1% vs Q2 2026

State taxes

1 708 558 €

↓ 78.3% vs Q2 2026

Labour taxes

811 483 €

↓ 53.7% vs Q2 2026

Employees

106

−7 vs Q2 2026

Q3 2026 · data from the Tax and Customs Board (EMTA)

Position in the industry Civil engineering · EMTAK 42

Turnover · Q3 2026 15 mn €

above 98% of companies

industry median 52 240 € · companies in the industry: 1 125
Labour taxes per employee 7 656 €

above 98% of companies

industry median 1 750 € · companies in the industry: 933
Revenue · 2025 93.5 mn €

above 98% of companies

industry median 88 960 € · companies in the industry: 1 426
Net profit margin · 2025 6.5 %

above 55% of companies

industry median 5.0 % · companies in the industry: 1 185

Taxes and turnover

Q4 2023 – Q3 2026

Turnover, € thousand Q3 2026: 15 025 338 € · −59.1% vs Q2 2026 · industry median 52 240 € · above 98% of the industry

Company
Industry median

Industry: Civil engineering (the EMTAK division of the main activity). Median: half of the industry is above, half below.

Labour taxes per employee, € Q3 2026: 7 656 € · −50.6% vs Q2 2026 · industry median 1 750 € · above 98% of the industry

Company
Industry median

Industry: Civil engineering (the EMTAK division of the main activity). Median: half of the industry is above, half below.

Employees Q3 2026: 106 · −6.2% vs Q2 2026

State taxes, € thousand Q3 2026: 1 708 558 € · −78.3% vs Q2 2026

Figures by quarter
Quarter	Turnover, €	State taxes, €	Labour taxes, €	Employees
Q3 2026	15 025 338	1 708 558	811 483	106
Q2 2026	36 713 507	7 862 480	1 751 486	113
Q1 2026	34 809 193	4 954 642	730 828	107
Q4 2025	27 887 793	1 988 985	765 134	111
Q3 2025	22 810 078	930 695	804 663	111
Q2 2025	13 083 738	1 131 036	1 193 489	112
Q1 2025	36 666 795	4 455 648	647 218	113
Q4 2024	23 487 002	1 988 220	603 846	110
Q3 2024	15 448 218	827 269	606 984	100
Q2 2024	15 365 608	1 194 860	807 389	96
Q1 2024	14 849 047	1 790 771	488 221	92
Q4 2023	13 217 805	1 097 918	492 240	86
Q3 2023	10 866 331	440 319	412 374	76
Q2 2023	14 291 795	2 042 275	431 858	72
Q1 2023	9 068 788	1 138 786	358 316	68
Q4 2022	14 424 475	568 821	360 584	72
Q3 2022	14 282 765	377 491	398 542	72
Q2 2022	11 533 182	309 006	325 294	75
Q1 2022	10 181 878	873 627	293 228	75

Labour taxes per employee per month

2 552 €

Turnover per employee in the quarter

141 748 €

Q3 2026 · calculated from EMTA data

Financials by year

2016 – 2025

Revenue, € thousand 2025: 93 528 758 € · +30.0% vs 2024 · industry median 88 960 € · above 98% of the industry

Company
Industry median

Industry: Civil engineering (the EMTAK division of the main activity). Median: half of the industry is above, half below.

Net profit, € thousand 2025: 6 062 224 € · +157.8% vs 2024 · industry median 2 500 € · above 98% of the industry

Company
Industry median

Industry: Civil engineering (the EMTAK division of the main activity). Median: half of the industry is above, half below.

Net profit margin, % 2025: 6.5 % · +3.2 pp vs the year before · industry median 5.0 % · above 55% of the industry

Company
Industry median

Industry: Civil engineering (the EMTAK division of the main activity). Median: half of the industry is above, half below.

Assets, € thousand 2025: 63 916 262 € · +45.6% vs 2024

Equity, € thousand 2025: 10 840 514 € · +126.9% vs 2024

Employees 2025: 109 · +13.5% vs 2024 · industry median 2 · above 98% of the industry

Company
Industry median

Industry: Civil engineering (the EMTAK division of the main activity). Median: half of the industry is above, half below.

Financials by year
Year	Revenue, €	Net profit, €	Labour costs, €	Assets, €	Equity, €	Employees
2025	93 528 758	6 062 224	10 652 246	63 916 262	10 840 514	109
2024	71 933 319	2 351 199	6 023 841	43 895 353	4 778 290	96
2023	40 538 559	1 081 577	4 653 372	21 105 131	2 427 091	77
2022	48 768 984	-3 125 431	3 520 304	11 060 329	1 345 514	78
2021	42 072 030	955 255	2 610 981	11 619 465	1 970 944	64
2020	20 797 312	963 365	2 278 071	6 572 344	1 015 689	50
2019	22 806 088	-707 761	1 786 802	6 729 219	-127 676	42
2018	—	—	—	—	—	28
2017	—	—	—	—	—	23
2016	—	—	—	—	—	14
2015	—	—	—	—	—	10
2014	—	—	—	—	—	4

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

Net profit margin

6.5 %

Net profit / revenue

Return on equity (ROE)

55.9 %

Net profit / equity

Return on assets (ROA)

9.5 %

Net profit / assets

Equity ratio

17.0 %

Equity / assets

Debt ratio

83.0 %

Liabilities / assets

Current ratio

1.33

Current assets / current liabilities

Revenue per employee

861 774 €

Revenue / average full-time employees

Labour cost per employee per month

8 144 €

Labour costs / employees / 12 months (incl. employer taxes)

Annual reports

PDFs from e-Äriregister

Annual reports
Year	Period	Filed	Report	Documents
2025	1 Jan 2025 – 31 Dec 2025	19 Jun 2026	Company’s own · audited	e-Äriregister
2024	1 Jan 2024 – 31 Dec 2024	31 Mar 2025	Company’s own · audited	e-Äriregister
2023	1 Jan 2023 – 31 Dec 2023	27 Mar 2024	Company’s own · audited	e-Äriregister
2022	1 Jan 2022 – 31 Dec 2022	4 Apr 2023	Company’s own · audited	e-Äriregister
2021	1 Jan 2021 – 31 Dec 2021	23 Mar 2022	Company’s own · audited	e-Äriregister
2020	1 Jan 2020 – 31 Dec 2020	3 May 2021	Company’s own · audited	e-Äriregister
2019	1 Jan 2019 – 31 Dec 2019	15 Apr 2020	Company’s own · audited	e-Äriregister

Board

Nasdaq CSD SE
Keeper of the share ledger · since 28 Sep 2017
Johanna Maria Katarina Korhonen
Board member · since 5 Dec 2013
Tiit Roben
Board member · since 20 Sep 2023

Right of representation

Any member of the management board may represent the public limited company in all transactions.

Owners

No owner information.

Owner in

A-Kaabel OÜ
100%

Beneficial owners

Keijo Juhani Haavikko
Member of a senior management body (management or supervisory board) · FIN · since 19 Oct 2018

Founders and other persons

Graniittirakennus Kallio Oy
Founder · 25 000 € · 22 Nov 2013
Aktsiaselts PricewaterhouseCoopers
Audit firm · 22 Nov 2013
Keijo Juhani Haavikko
Chairman of the supervisory board · 18 Sep 2025
Lauri Kikerpill
Supervisory board member · 18 Sep 2025
Mikko Johannes Nyhä
Supervisory board member · 18 Sep 2025
Mika Matias Mäenpää
Supervisory board member · 24 Sep 2025
Perttu Aleksi Piilo
Supervisory board member · 3 Sep 2026
Omanikukonto: GRK Infra Oyj
Shareholder · 30 000 € · 5 May 2025

shared board members, owners or beneficial owners

Activities (EMTAK)

42121Construction of railways and underground railways Main
42111Construction of roads and motorways
42131Construction of bridges and tunnels

Rulings 33

All rulings (PDF)

Rulings
Number, date	Title	Deadline	State	Document
Ä 20065983 / M11 22 Sep 2025	Procedural ruling		In force 22 Sep 2025	PDF
Ä 20065983 / 22 15 May 2025	Amendment entry		In force 15 May 2025	PDF
Ä 20065983 / 21 20 Sep 2023	Amendment entry		In force 20 Sep 2023	PDF
Ä 20065983 / 20 14 Sep 2023	Amendment entry		In force 14 Sep 2023	PDF
Ä 20065983 / 19 1 Sep 2023	Amendment entry		In force 1 Sep 2023	PDF
Ä 20065983 / 18 2 Jun 2023	Amendment under Code of Civil Procedure § 595¹ (1)		In force 2 Jun 2023	PDF
Ä 20065983 / 17 4 Apr 2023	Amendment entry		In force 4 Apr 2023	PDF
Ä 20065983 / 16 30 Jan 2023	Amendment under Commercial Code § 525 (2)		In force 30 Jan 2023	PDF
Ä 20065983 / 15 20 Oct 2022	Amendment entry		In force 20 Oct 2022	PDF
Ä 20065983 / 14 22 Jun 2022	Amendment entry		In force 22 Jun 2022	PDF
Ä 20065983 / M10 13 Jun 2022	Ruling to eliminate deficiencies	3 Jul 2022	Deficiencies eliminated 22 Jun 2022	PDF
Ä 20065983 / 13 11 Feb 2022	Amendment entry		In force 11 Feb 2022	PDF
Ä 20065983 / M9 10 Feb 2022	Ruling to eliminate deficiencies	25 Feb 2022	Deficiencies eliminated 11 Feb 2022	PDF
Ä 20065983 / M8 10 Nov 2021	Public service of a ruling in Ametlikud Teadaanded		In force 10 Nov 2021	PDF
Ä 20065983 / 12 15 Oct 2021	Entry refused: deficiencies not eliminated		In force 25 Nov 2021	PDF
Ä 20065983 / M7 20 Jul 2021	Ruling to eliminate deficiencies	19 Aug 2021	In force 20 Jul 2021	PDF
Ä 20065983 / M6 4 Jun 2021	Procedural ruling	4 Jul 2021	In force 4 Jun 2021	PDF
Ä 20065983 / M5 6 May 2021	Ruling to eliminate deficiencies	5 Jun 2021	In force 6 May 2021	PDF
Ä 20065983 / 11 20 Dec 2019	Amendment under Commercial Code § 525 (2)		In force 20 Dec 2019	PDF
Ä 20065983 / 10 17 Sep 2019	Amendment entry		In force 17 Sep 2019	PDF
Ä 20065983 / M4 11 Sep 2019	Ruling to eliminate deficiencies	26 Sep 2019	Deficiencies eliminated 17 Sep 2019	PDF
Ä 20065983 / 9 30 Apr 2019	Amendment entry		In force 30 Apr 2019	PDF
Ä 20065983 / 8 18 Jan 2018	Amendment entry		In force 18 Jan 2018	PDF
Ä 20065983 / 7 22 Dec 2017	Amendment entry		In force 22 Dec 2017	PDF
Ä 20065983 / 6 6 Dec 2017	Amendment entry		In force 6 Dec 2017	PDF
Ä 20065983 / 5 28 Sep 2017	Amendment entry		In force 28 Sep 2017	PDF
Ä 20065983 / 4 1 Feb 2017	Amendment under Commercial Code § 525 (2)		In force 1 Feb 2017	PDF
Ä 20065983 / 3 1 Mar 2016	Amendment entry		In force 1 Mar 2016	PDF
Ä 20065983 / M3 23 Feb 2016	Ruling to eliminate deficiencies	14 Mar 2016	Deficiencies eliminated 25 Feb 2016	PDF
Ä 20065983 / 2 20 Apr 2015	Amendment entry		In force 20 Apr 2015	PDF
Ä 20065983 / M2 9 Apr 2015	Ruling to eliminate deficiencies	24 Apr 2015	Deficiencies eliminated 20 Apr 2015	PDF
Ä 20065983 5 Dec 2013	First entry		In force 5 Dec 2013	PDF
Ä 20065983 / M1 3 Dec 2013	Ruling to eliminate deficiencies	2 Jan 2014	Deficiencies eliminated 5 Dec 2013	PDF

Sources: e-Äriregister and EMTA. Data updated 30 Oct 2026. Open at the source ↗ · Report an error in the data

GRK Eesti AS

Position in the industry Civil engineering · EMTAK 42

Taxes and turnover

Financials by year

Financial ratios for 2025

Annual reports

Board

Right of representation

Owners

Owner in

Beneficial owners

Founders and other persons

Related companies

Activities (EMTAK)

Rulings 33