Helmes' sales revenue exceeds €100 million

Helmes' sales revenue increased to €101.3 million in 2023 with a 9.6% increase compared to the previous year (€92.4 million in 2022). The company's main markets were Estonia, Lithuania, Latvia, the United Kingdom, Germany, the United States, Sweden, France, and Finland. The company's EBITDA in 2023 was €13.0 million and net profit amounted to €9.9 million. 

In 2024, Helmes increased its stake in its Lithuanian subsidiary Telesoftas from 70% to 92% and acquired a 75% stake in the Estonian company Trinidad Wiseman OÜ. 

According to Andres Kaljo, a partner and board member of Helmes, the company can be satisfied with its consistently strong financial results, “For more than a decade, we have been growing steadily through different phases of the economic cycle. The last few years have seen a series of crises with increased uncertainty and a broad-based recession, and 2023 was no exception. We can see from our clients that the uncertainty has diminished, and the economy is recovering, but it will take time. The economy is cyclical, and we are particularly pleased that our clients see significant business value in our services, even in difficult times of crisis,” said Kaljo.

Caring and green thinking

As an environmentally conscious company, Helmes made several significant changes to its processes in previous years. In 2022, the company moved to strategic environmental management and in 2023 made changes to its day-to-day operations to reduce its negative and increase its positive environmental impact. The company holds ISO 14001 certification for the strategic management of its environmental impacts. 

“As with other aspects of sustainability, like waste separation, the benefits become most apparent over the long term. Implementing sustainable practices in ICT not only reduces electricity costs but also aligns with environmental, social, and governance criteria. These criteria are increasingly influential in shaping a company's image and reputation, which is crucial for attracting new customers and retaining talent,” adds Viesturs Bulāns, CEO and Partner of Helmes Latvia. 

In addition to spearheading the ICT Green Software Mindset initiative, Helmes is involved in several charity projects focusing on health and environmental welfare. The largest charity project in 2023 was the development of the management system platform for beneficiary applications to the “Gift of Life” cancer fund.

Helmes is a partner in digital innovation and software development. Founded in Estonia, Helmes has grown into a global company that creates business-critical solutions for international organizations such as Airbus, Telia, Kühne+Nagel, CERN, the European Space Agency, the OECD and others.