Karol Koger

HORTES is the most known home and garden center in Estonia, which opened its first garden center in Tallinn in 2006 and 2 additional garden centers in 2019-2021.

The main challenge for the company and the CFO since 2021 was to restore the company's profitability after a rapid expansion, while adapting to the changed market and economic environment. Continuous analysis at sales unit and product group levels, and the change in purchasing and marketing strategy in accordance with the company's strategy. The implementation of the necessary operational tools played an important role.

Main responsibilities:

- Financial planning (cash flow management, forecasting and budgeting).

- Regular financial reporting (Internal reporting and reporting to external partners).

- Optimization and ongoing financial analyzes.

- Management of group financial units.

- Coordination of corporate insurance (risk and insurance needs assessment, loss management and communication with insurance companies and third parties).

- Coordination of corporate real estate management.

- Company representation in communication with banks, auditors, clients and suppliers in financial matters.

- Participation in HR planning and management.

- As a member of Management board of Hortes AS and Hortes SIA participation in group strategic and operational management.

MyFitness has grown the largest fitness chain in the Baltics, operating MyFitness, Gym! and Gym+ gyms.

I contributed to the growth of MyFitness during one of the most exciting development stage in MyFitness's history. The number of clubs reached 50, 2 acquisitions took place during 2 years, and the period was affected by the COVID pandemic and restrictions. As CFO, I played an important role in acquisitions and the subsequent integration of acquired entities, as well in continuous group strategy development. A separate challenge was the adaption with the COVID restrictions - rapid close and cost-cuts and quick restarts of activities. And this in all 3 Baltic states.

The main responsibilites:

- Financial planning (cash flow management, forecasting and coordination of the budgeting process).

- Regular financial reporting (Internal reporting and reporting to external partners).

- Participation in process optimization (especially accounting processes).

- Ongoing financial analyzes (Improvement proposals and return on investment analyzes) company / group expansion and M&A processes (coordination of financial part).

- Management of group financial units.

- Coordination of corporate insurance (risk and insurance needs assessment, loss management and communication with insurance companies and third parties).

- Company representation in communication with banks, auditors, clients and suppliers in financial matters, participation as a member of the company's management in the company's strategic planning.

Favor is one of the leading metalworking companies in Estonia.

During my participation, the company increased its turnover twice from 18 MEUR to 35 MEUR through more optimal production load. My role was participation in the ERP system change and reporting of management reporting system to help the team set goals that would ensure the achievement of the company's overall goals.

Main responsibilities:

- Financial planning (cash flow management and coordination of the budgeting process).

- Regular financial reporting (Internal reporting and reporting to external partners).

- Ongoing financial analyzes (Improvement proposals to increase efficiency, reduce costs, return on investment analyzes).

- Management of financial unit.

- Coordination of corporate insurance (risk and insurance needs assessment, claims handling and communication with insurance companies, lawyers, clients and third parties).

- Representing the company in dealing with banks, auditors, clients and suppliers in financial matters.

- Participating in the company's strategic planning as a member of the company's management.

The position was created in 2006 to support the growth of the company and the establishment of the Home4you furniture store chain in Estonia and Latvia. As CFO, I implemented regular reporting and analysis, which supported financial planning and operational cash flow management.

Main responsibilities:

- Financial planning and reporting of AS Evelekt and related companies.

- Management of the work of the financial unit.

- Communication with companies' foreign partners.

- Participation in strategic planning as a member of the company's management.

I started as an auditor's assistant, continued to work as a project manager for the audit team. The task of the project manager is to plan the audit project, monitor the project and prepare summary reports based on the results of the tests performed by the team members.

Rimess MRI OÜ is former Grant Thornton Baltic OÜ.
As an accountant I was providing accounting services for small and medium size companies.