COMPANY PROFILE
Tavex Services
Currency Exchange Cash foreign currency exchange for travellers and wholesale for business partners.
40+ currencies Best rates Prime locations Wholesale
Payment Services Rapid international currency transfers through TavexWise system. Cash payment and withdrawal option from all Tavex branch offices in Europe.
Instant transfers Low fees
Gold and Silver Sale of investment gold and silver bullion. Purchase of scrap gold and silver.
Investment gold and silver Best prices
Executable 100% online
Authenticity guaranteed
Cash payment and Withdrawal option
Free personal consultations
TavexWise
Official distributor of world’s largest mints
Tavex Group
ESTONIA
Tavid AS
8 offices
Head office (Aia 5, Tallinn) Kristiine Center (Endla 45, Tallinn) Ülemiste Center (Suur-Sõjamäe 4, Tallinn) Järve Center (Pärnu mnt 238, Tallinn) Sikupilli Center (Tartu mnt 87, Tallinn) Rocca al Mare Center (Paldiski mnt 102, Tallinn) T1 Center (Peterburi tee 2h, Tallinn) Lõunakeskus (Ringtee 75, Tartu)
FINLAND
Tavex OY
1 offices
Head office (Fabianinkatu 12, Helsinki)
SWEDEN
Tavex AB
4 offices
Head office (Smålandsgatan 9, Stockholm) Liljeholmstorget Galleria (Liljeholmstorget 7, Stockholm) Solna Centrum (Solna Torg 13, Solna) Farsta Centrum (Farsta Torg 12, Farsta)
DENMARK
Tavex A/S
1 office
Hovedbanegården (Bernstorffsgade 16-22, Copenhagen V)
NORWAY
Tavex AS 1 office Tavex Gull og Sølv AS
Head office (Karl Johans gate 1, 0154 Oslo)
LATVIA
Tavex SIA
7 offices
Head office (Elizabetes 21A, Rīga) Origo Center (Stacijas laukums 2, Rīga) Mols Center (Krasta iela 46, Rīga) Spice Home Center (Jaunmoku iela 13, Rīga) Alfa Center (Brīvības gatve 372, Rīga) Rīga Plaza Center (Mūkusalas iela 71, Rīga) Akropole (Maskavas iela 257, Rīga)
BULGARIA
Tavex EOOD
8 offices
Serdika Center (Blvd. Sitnyakovo 48, Sofia) The Mall (Blvd. Tsarigradsko 116, Sofia) Mall of Sofia (Blvd. Al Stamboliiski 101, Sofia) Paradise Center (Blvd. Cherni Vrah 100, Sofia) Djumayata (Aleksander Batenberg 2, Plovdiv) Grand Mall Varna (Andrey Saharov 2, Varna) Galeria Mall (Yanko Komitov 6, Burgas) Burgas Plaza (Blvd. Transportna, Burgas)
POLAND
Tavex Sp. z o.o
1 office
Świętokrzyska 32, 00-116 Warszawa
ROMANIA
Tavex Exchange S.R.L. Tavex Gold S.R.L.
E-shop operational
UK
Tavex Gold Limited
E-shop opening soon
GLOBAL
TavexWise
Tavex Group Registered & trading names: - In Finland - Tavex OY - In Sweden - Tavex AB - In Denmark - Tavex A/S - In Norway - Tavex AS - Tavex Gull og Sølv AS - In Estonia - Tavid AS - In Latvia - Tavex SIA - In Bulgaria - Tavex EOOD - In Poland - Tavex Sp. z o.o. - In Romania - Tavex Exchange S.R.L. - Tavex Gold S.R.L. - In UK - Tavex Gold Limited - TavexWise LTD
10
countries
32
offices
250
dedicated people
What is TavexWise? TavexWise is TAVEX’s in-house money transfer system facilitating hassle-free instantaneous money transfers at fees significantly lower than banks and most transfer service providers.
TavexWise
TavexWise offers money transfers between bank accounts worldwide with an option to cash-in and cash-out in all 30 Tavex offices located over 10 countries. TAVEX subsidiaries in 10 countries function as transfer agents for the benefit of its customers who can leverage the concern’s network for instantaneous cash transfers to desired recipients.
What is Tavex Group? Tavex is a financial group providing physical precious metals, currency exchange, and payment services to a broad customer base that includes private individuals, high net worth clients, businesses of various sizes, and financial institutions. Tavex Group was founded in 1991. The Group has firmly established itself as a leading precious metals and forex dealer in Northern Europe, serving on average 1.7 million clients annually. Tavex maintains a strong financial position and is free of loans. Tavex provides a secure and efficient two-way market 7 days a week, 365 days a year, accessible through online shops and a wide office network.
Broad range of services Our multi-exchange offices provide convenient and flexible financial and payment services including: investment precious metals, currency exchange, cross-border money remittance services, international non-cash transfers, cash withdrawals, cash payments to bank accounts, express currency transfers between EU countries, and the purchase of scrap gold and silver.
Best prices Tavex group follows a straightforward pricing policy - we aim to offer our clients unbeatable prices… guaranteed. To be true to our aim we monitor and update our prices regularly. Our commissions and premiums adhere to the principle of
maximum transparence with special emphasis placed on avoiding hidden charges.
We deal in size Whatever the amount of physical precious metals and cash currency you require, we can cater to your needs. Our transactions in physical gold exceed 3000 kg annually and we stock one of the broadest currency lists in the region.
Expertise and passion Our team consists of more than 250 talented individuals who share a passion for delivering unparalleled customer service. Should you have any questions or special requirements, our precious metals and currency experts are there for you.
Education Besides day-to-day services, we put great effort into educating people in the subject of investing. Tavex organizes investment gold seminars where local and international investment specialists take the floor. Tavex is a regular participant in investment related summits and seminars. Our websites are there to keep you updated on gold and financial market news and developments
Credibility is our currency Try our services and experience first hand why Tavex has established itself as a trusted hard assets and transactions provider to millions of satisfied customers.
Business Partners Financial institutions Tavex Group deals directly with the biggest banks and financial service providers in currency market: • Raiffeisen Bank • Coop Bank • LHV • BFC • TTT Moneycorp
Investment gold mints and factories We deal exclusively with the finest gold and silver products from the world’s most renowned and biggest precious metals refineries, bullion manufacturers, and government mints. •
The Perth Mint - As Australia’s sole gold refinery, Perth Mint refines the vast majority of gold minted in Australia. Operating as a government owned monopoly for one of the largest gold-producing countries it ranks among the biggest gold producers in the world.
•
Valcambi - Swiss gold bar producer - largest refinery in the world in terms of output capacity.
•
Austrian Mint - the only official minting authority of the Republic of Austria.
•
China Great Wall Coins Investment Ltd - International distributor of Chinese bullion coins. Fully-owned subsidiary of China Gold Coin Inc., acting under direct supervision of the People’s Bank of China.
•
Heraeus Group - globally active precious metal and technology Group based in Germany.
•
A-Mark - full service precious metals trading company offering a wide array of products and services.
•
Italpresziosi - one of the main operators in the refining, trading and sale of precious metals, bullion and gold coins for investment based in Italy.
•
Istanbul Gold Refinery Inc. - Turkish refinery standing on the Good Delivery List of LBMA.
In addition to the above mentioned producers, Tavex has long standing relationships with several investment gold wholesalers in different parts of the world.
Co-operation with legal authorities Tavex Group is committed to preventing money laundering and terrorist financing. Our procedures comply with the IV Antimoney laundering directive 2015/849 and also with Payment service directive (PSD) 2007/64EC. We monitor and adhere to other major international anti-money laundering recommendations and programs such as the Financial Action Task Force (FATF), the United Nations and European Union sanctions as well as the Office of Foreign Asset Control (OFAC). We aim to maintain the highest operating standards at all times by undertaking regular reviews of our procedures and controls to ensure we are compliant with the relevant laws, regulations and standards of good practice. Our people cooperate daily with the Financial Supervision Authority (FSA), Financial Intelligence Unit (FIU), Tax Administration and other authorities.
Tavex in Numbers Number of Clients
Yearly Gold Sales
Cash and gold transactions in all Tavex Group offices
1 606 982
1 867 432
2014
1 603 259
1 754 858
2016
2017
2015
3200 kg
2900 kg
2850 kg
2014
2015
2018
19 767 030 €
2016
19 229 024 €
18 089 996 €
15 439 226 €
7 191 343 €
5 673 128 €
4 319 209 €
3 684 268 €
Net profit/loss 2015
2016
2017
2018
Key Financials 2018 Gross profit (EUR) Gross margin (share of sales, %) Net profit/loss (EUR) Net profit yearly growth (%) Current ratio
3000 kg
2 007 464
Gross Profit and Net Profit in Euros
Gross profit
3500 kg
2017
2016
2015
19 229 024
18 089 996
19 767 030
15 439 226
12.05
11.23
11.79
12.13
5 673 128
4 319 209
7 191 343
3 684 268
31.3
-39.9
95.2
-12.87
23.48
21.76
13.58
16.56
ROA (%)
11.8
9.6
16.5
9.77
ROE (%)
12.3
10.1
17.8
10.43
2017
2018
Management Profiles
Alar Tamming
Kuno Rääk
• Master in Psychology 2007, Bachelors degree in Food Science and Technology 1986.
• Payment Istitutions’ Representative at the Advisory Committee of Market Participants serviced by the Ministry of Finance (created by the Governmental committee for the coordination of money laundering prevention) 2008–...
• Estonian Minister of Economic Affairs and Communications 2003-2004
• Degree in Computer Programming, education in International Business Management, Public Administration and Psychology
• Supervisory Board Member of: - Eesti Talleks 2014-... - Eesti Energia (Estonian Energy) 2005-2014 - EAS (Enterprise Estonia) 2001-2003, 2005-2007 - Tehvandi Sport Center Foundation 20052014 - Wermo Furniture 2000-2003, Tallinn Airport 1999-2003
• Supervisory Board Member of: - Estonian Air 2002-2005 - Eesti Loots (Estonian Pilot) 20082009 • In 2006 received the fourth class Order of the White Star from the President of Estonia. • His articles and opinions on the world economy and investment gold market are often published in Estonian media. • Established Tavex Group in 1991, Chairman of the Supervisory Board • Estonian Transpersonal Association, Vice president 2008-...
• Member of Estonian Junior Chamber of Commerce (JCI) since 2000, Chapter President 2004 • In Tavex Group since 1995, Chairman since 2000 • 2014–2016 Estonian Business School, Executive MBA Program
Meelis Atonen • Supervisory Board Chairman of: - Eesti Post (Estonian Post) 2007-2014 - Valga Haigla (Valga Hospital) 1999-2003, 2005-2007
• Nordic Investment Bank Control Committee Member 2005-2008 • Member of Estonian Parliament 1999-2008 • Vice-chairman of Estonian Reform Party 2001-2008 • Mayor of Valga, Estonia 1994-1996 • Advisor to Estonian Ministry of Defence 1994 • Tavex Group Supervisory Board Member and Head of Investment Gold division 2007-... • Host of a weekly radio talk show “Public person of the week” (~50 000 listeners per episode) 2012-...
Contacts Alar Tamming Chairman of the Supervisory Board Tel: +372 627 9910 Mob: +372 501 4412 alar@tavex.eu
Kuno Rääk Member of the Management Board / CEO Tel: +372 627 9910 Mob: +372 507 3116 kuno.raak@tavexwise.com
Meelis Atonen Member of the Supervisory Board / Head of Investment Gold Divison Tel: +372 627 9910 Mob: +372 506 9459 meelis@tavex.eu
Jüri Martin Member of the Management Board / CFO Tel: +372 627 9910 Mob: +372 503 6838 jyri@tavex.eu
Aleksander Pawlak Tavex Sp.z.o.o Poland Country Manager Mob: +48 883 147 357 aleksander.pawlak@tavex.pl
Indrek Kalluste IT Manager Mob: +372 5345 3444 indrek.kalluste@tavex.eu
Sten Senkel Tavex A/S Denmark Country Manager Tel: +45 6055 8500 tavex@tavex.dk
Kristi Tamming Tavex AS Norway Country Manager Tel: +47 988 43 423 tavex@tavex.no
Vikram Sundarasekhar Tavex AB Sweden Country Manager Tel: +46 8 678 2030 tavex@tavex.se
Marek Viskman Tavex OY Finland Country Manager Tel: +358 968 149 149 tavex@tavex.fi
Andris Arhipenko Tavex SIA Latvia Country Manager Tel: +371 6720 5533 andris@tavex.lv
Max Baklayan Tavex EOOD Bulgaria Country Manager Tel: +359 2 9888 666 tavex@tavex.bg
Adrian Bachmann Tavex Gold Limited UK Country Manager Tel: +372 5650 3926 adrian.bachmann@tavex.eu
Gabriel Apostol Tavex Exchange S.R.L. Romania Country Manager Tel: +40 735 666 888 Gabriel.Apostol@tavex.ro
International Media In October 2018 the TIME Magazine published a section about Estonia under which they selected Tavex Group as one of the oldest Estonian origin companies to feature under The Intelligent Investor pages.
The founder of Tavex Mr Alar Tamming about his winning business formula: “We have been operational for 27 years and we have been profitable for 26 of those because we always try to give our customers the best possible rates. We have no loans, we have always worked with our own capital and we regularly achieve a profit margin of between 25% and 30%. And because we are debt-free there is absolutely no chance of us going bankrupt.�
www.tavex.eu