2020 Estonia´s TOP 2 accounting provider: Quick Response Speed Has Been Vital

This article was published in business newspaper Äripäev in 26.11.2020


Kaire Rebane, CEO of Leinonen OÜ, commenting on the achieved second place position, stated that such good results are achieved only due to a good team and the ability to react quickly to altered circumstances.

“Consistent work with processes, quality, and the professionalism of our employees has also won the trust of our clients, and all these factors together have ensured our growth,” said Rebane. Leinonen has 27 years of experience in Estonia already.


In reporting year 2019, the company had an average of 41 employees. During the year, the number of employees increased by seven. Labour costs in 2019 totaled a little over 1.3 million euros, whereas a year earlier it was a little over 1.1 million euros. In 2019, a total of 18,000 euros was paid for the remuneration of the members of the Management Board.


The management of the company closely monitors the development of the viral situation and updates its assessments of the impact of the epidemic as the situation progresses.


We saw a drastic situation for some clients.

Regarding the spring of 2020, Rebane noted that it definitely surprised everyone, including them. “We saw how drastically the situation affected some of our larger clients and we were also impacted by it very directly. We were flexible in offering new services; despite the situation, we continued to implement our strategies, though we changed our focus a bit to focus more on specific services. Today, this seems to have borne fruit. We have not lost clients rather, new clients have come and more are coming,” said the manager. 

 “The response speed has certainly been important – how quickly and smoothly teleworking has been organized”. 

  Kaire Rebane, CEO of Leinonen OÜ


Regarding the whole sector, Rebane noted that the response speed has certainly been important how quickly and smoothly it has been possible to organize teleworking it has definitely allowed the problem-free provision of services.


“The size of a client’s portfolio is a determining factor if a large client was affected by the corona crisis, this of course will have a big impact on the accounting company that served that client. Changes for smaller clients do not have such a big impact on the accounting company. The later deadline of the financial year did not in itself have a great impact on us as a service provider,” she said.


According to her, the word “change” is used daily throughout the entire Leinonen group. “We are actively involved in the harmonization of service processes and quality throughout the group and always are working towards better cooperation. As we are one of the three largest offices in the group, we also participate in the development activities of other countries. We are constantly investing and developing our technology base, both for administration and for basic work. Thanks to our skills and technical solutions, our clients also get more flexible opportunities to organize their daily work,” said Rebane.


To the question of whether any significant changes are planned for the new year, Rebane answered that even if the situation is different today than before and changes in the business landscape of companies have taken and are taking place, Leinonen are ready to move on its next goals. “The current development and growth plans will definitely continue. I would like to hope that the first and second quarters of 2021 will show the rock bottom; from there on I am rather positive,” said the manager.


Leinonen increased profitability

In 2019, Leinonen OÜ earned an operating profit of 0.36 million euros with a turnover of 2.26 million euros. Compared to last year, sales revenue increased by 13.58% and operating profit margin was 15.94%, an annual increase of 2.45 percentage points.


The company has been providing Finnish accounting, payroll, and reporting services for over ten years. The tax and legal advisory unit of the company is a great help for current clients as well as for those who come from outside the house. All necessary issues concerning the company’s taxation or legal issues, contracts, mergers, divisions, and representation in labor disputes will be resolved.

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