According to the government's consolidated report on state holdings, the total revenue of state-owned enterprises fell by 4.5 percent in 2024. However, consolidated net profit turned positive again, reaching €184 million (compared to a loss of €339 million in 2023). Eighteen companies posted a profit — two more than the previous year, the Ministry of Finance announced.

The government is also discussing changes to its stakes in state-owned companies. Minister of Finance Jürgen Ligi (Reform) presented proposals under which the state's holding in AS Tallinna Sadam would be reduced to 51 percent (down from the current 67 percent). The state will also analyze the possibility of reducing its 100 percent ownership of AS Eesti Post, following amendments to the Postal Act and changes to the service funding model.

The government also plans to implement a decision made in 2021 to privatize road engineering company AS Teede Tehnokeskus. In addition, the state will review its holding and assess the method of divestment in AS Eesti Põllumajandusloomade Jõudluskontroll (Estonian Livestock Performance Recording), which the Ministry of Regional and Agricultural Affairs — its managing authority — believes no longer needs to be held by the state in the future.

"The state does not need to be the owner where the private sector is capable of delivering services equally well or better. In the cases of the Port of Tallinn, the Road Administration, Teede Tehnokeskus and Eesti Post (Omniva), the next step is to strike a balance between public interest and market functioning," said Kaur Kajak, deputy secretary general for administrative policy at the Ministry of Finance.

As of the end of 2024, the state held shares in 26 companies — 21 of them fully state-owned and four with a majority stake. Three companies ceased operations during the year: Nordica (airline), which declared bankruptcy in early 2025, Transpordi Varahaldus (aircraft holding), whose assets are currently being liquidated, and (rail freight carrier) Operail, which sold off its entire business and now operates under the name AS Raudtee Varad.

The consolidated report also showed that in sectors such as healthcare, enterprise support and culture, the state's role remains central. As of the end of 2024, the state had 64 foundations — two more than in 2023. The total assets of these foundations grew by 4.1 percent, reaching €2.05 billion. Self-generated revenue increased by 12 percent, indicating greater independence from state support. At the same time, net results fell by 23 percent, as the rise in fixed costs outpaced revenue growth.

In addition, the state is a member of 15 non-profit associations, including nine regional public transport centers. The Ministry of Finance considers it necessary for all ministries to review their memberships to ensure their relevance and avoid overlapping roles.

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