The share of companies with high credit risk has reached the pre-crisis level

Statistical data of Krediidiinfo AS regarding payment behavior of Estonian companies in the first half of 2011 demonstrates signs of recovery from the economic crisis – the share of companies with high credit risk has reached the pre-crisis level, accounting for 15% of Estonia’s active companies. 

The fields of activity with the highest credit risks are still accommodation and catering, as well as building sector, where the share of risky companies constitutes 28% and 21% respectively. At the same time the riskiness of these sectors has considerably decreased compared to the situation one year ago. 

The number of companies owing money to the state, i.e. companies with tax arrears has decreased by 18%. The number of companies owing money to their business partners, i.e. companies with payment defaults has decreased by 11%. Just a year ago both numbers were growing rapidly – the number of companies with tax arrears by 12% and the number of companies with payment defaults by 25%. 

Getting rid of debts is most difficult for the companies operating in the middle-sized companies sector, where within a year the number of companies with payment defaults has decreased only by 4%, and the number of companies with tax arrears has even increased by 8%. As an example, one can look at the respective numbers for big companies, which constitute (-62%) and (-33%) respectively. 

Total sum of payment defaults of the most active Estonian companies (55 334) constituted 118 million euros, decreasing by 10% compared to the previous period. 
Total sum of tax arrears has increased, despite a decrease in the number of companies owing money to the state by around 4%, reaching 101 million euros. 

Within a year the number of companies with tax arrears and those with payment defaults has decreased in all fields of activity. The only exception is the field of accommodation and catering, where the number of companies with tax arrears has increased by 7%. Considering the stabilizing environment there are reasons to expect improvements also in this field of activity in the nearest future.

AS Creditinfo Eesti - Narva mnt 5, 10117 Tallinn, Estonia
+372 665 9600 (9:00-17:00) info@creditinfo.ee
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