In Estonia, the financial sector has an exceptionally strong reputation – In Germany, a grocery chain leads the way

The Reputation&Trust 2025 study shows that Estonia’s most reputable company is the financial group LHV. Three other companies from the financial sector are also among the ten most reputable companies in Estonia. In Germany, the most reputable company is the grocery retail chain DM. Tesla has the weakest reputation among Germans, having seen a record decline in its reputation compared to the previous year.

Estonia’s most reputable company, LHV, has a reputation score of 4.14. The reputations of the IKEA furniture chain, which came in second place, and the Wise payment service, which placed third, are also excellent: IKEA’s score is 4.10 and Wise’s is 4.04.

In the Reputation & Trust research model, an organization’s reputation is considered excellent if its score is at least 4.

“Such a high reputation score indicates that all aspects of the company’s reputation are in good shape,” says Riku Ruokolahti, Development Director at Reputation and Trust Analytics.

The 2025 Reputation & Trust study received responses from 2,793 Estonians, who provided 6,243 organizational assessments. In total, 26,997 respondents participated in the study across six different countries.

Estonia’s Most Reputable Companies 2025

“The research results show that Estonia has a very strong financial sector. Four of the ten most reputable companies are in this sector: LHV, Wise, Swedbank, and SEB. This is truly exceptional; in our studies conducted in the Nordic countries, financial sector companies have never been so strongly represented at the top of the reputation rankings,” says Ruokolahti.

“On the other hand, similarities between the Nordic countries and Estonia can be seen in Ikea’s success. Ikea was Sweden’s most reputable company this year and also ranked among the most reputable in Norway, Denmark, and Finland. This strong Nordic leader’s good reputation extends to Estonia as well, where it is even higher than in Sweden,” Ruokolahti continues.

The Nordic Countries’ Most and Least Reputable Companies in 2025

Estonia’s Poorest Reputation for Bankrupt Nordica

At the bottom of the list of Estonia’s least reputable companies is the airline Nordica, which filed for bankruptcy and ceased operations at the end of 2024.

“Although Nordica had already ceased operations, its poor reputation still lingered in people’s minds in 2025. The company’s reputation score of 1.96 in the study is extremely low. Such low reputation scores are rare,” says Riku Ruokolahti.

The list of least reputable companies also includes firms from the financial sector, which is strongly represented at the top of the reputation rankings: Big Bank and Luminor. However, both companies’ reputations are rated as moderate; in the Reputation&Trust research model, a reputation is considered moderate if the score falls between 3 and 3.49.

“Although the financial sector appears strong in our study, it is clear that there is variation in the reputations of companies in this sector as well,” Ruokolahti notes.

Estonia’s Least Reputable Companies 2025

Tesla's Reputation Plunged to a Record Low in Germany

In Germany, Tesla was rated as having the weakest reputation, with its reputation score dropping to a very poor 2.48 in 2025. The decline from the previous year was 0.77 points.

“We have extensively studied companies’ reputations using the Reputation&Trust model in various markets since 2013. Tesla’s 0.77-point decline in reputation in Germany is the largest drop in reputation we have seen during this period,” says Ruokolahti.

Germany’s Most and Least Reputable Companies in 2025

DM Chain Has an Exceptionally Strong Reputation

The most reputable company among Germans was the grocery retail chain DM, which specializes in cosmetics and household products, receiving a reputation score of 4.14.

“Retail companies almost never rank at the top of reputation rankings in our studies. However, DM’s reputation is particularly strong compared to companies in any other industry. It even showed an increase of 0.12 points from the previous year, which is a statistically significant change,” says Riku Ruokolahti.

“A reputation score at such a high level indicates that all aspects of the company’s reputation are at a good or excellent level,” Ruokolahti notes.

How We Conducted the Study

The Reputation & Trust 2025 study was conducted in six different countries, with a total of 26,997 respondents participating.

The most and least reputable companies were selected for the group of companies studied based on a preliminary study conducted earlier in 2025. In the preliminary study, respondents in each country spontaneously named two companies they considered particularly reputable and two they considered particularly poorly reputable. Reputation and Trust Analytics does not influence the selection of companies.

The thirty companies that received the most mentions in each country were examined more closely. Organizations were evaluated using Reputation and Trust Analytics’ Reputation&Trust research model, in which an organization’s reputation score is calculated as the average of eight different sub-areas. These sub-areas are corporate governance, finances, management, innovation, stakeholder engagement, products and services, workplace, and sustainability. The study used a five-point rating scale (1–5).

The lists included the ten companies with the highest scores and the ten with the lowest scores.

For Estonia, the goal of the Reputation&Trust 2025 study was to examine the reputation of organizations operating in Estonia among the country’s citizens. Data for the study was collected via an online survey from June 4 to 25, 2025.

In Estonia, 2,793 respondents took part in the study. The study’s target group consisted of Estonians aged 15–65 from across the country. The sample has been weighted to be representative of the population in terms of gender, age, and residential area.

For Germany, the goal of the Reputation&Trust 2025 study was to examine the reputation of organizations operating in Germany among the country’s citizens. Data for the study was collected via an online survey from June 3 to 30, 2025.

In Germany, 3,594 respondents took part in the study. The study’s target group consisted of citizens aged 15 to 65 from across the country. The sample is weighted to be representative of the population in terms of gender, age, and residential area.

More information:

Riku Ruokolahti, Development Director, Reputation and Trust Analytics, +358 400 512 200, riku.ruokolahti@reptrust.com