Estonia, Investments, Markets and Companies, Water

During 2010 the company's total sales increased, year on year, by 0.6% to 49.7 mln EUR.

The company's underlying operating profit from water and wastewater related activities decreased by 10.1% to 24.2 mln EUR in 2010 compared to 2009.

Profits from other activities (mainly construction and developments) increased by 25.2% to 3.3 mln EUR compared to the 2009.

The company's profit before taxes was 24.9 mln EUR, which is a decrease of 2.9% or 0.73 mln EUR, compared to 2009.

AS Tallinna Vesi's CEO Ian Plenderleith said that last year's financial results were severely impacted by sales volume decreases in Tallinn and higher pollution tax and electricity costs. “Whilst the sales revenue decrease in Tallinn was compensated by a volume increase in outside service areas and the first full year implementation of the Maardu contract, our costs were severely impacted by the exceptional weather conditions, increased pollution load and a surge in electricity costs that resulted from the opening of the electricity market,“ commented Plenderleith. Additionally the reduction of water and wastewater tariffs by 0.9% January 2010 also contributed to the drop in sales revenues in Tallinn.

„We are however pleased that while dealing with difficult challenges, we have managed to ensure the best ever drinking water quality for the residents of the city,“ added Plenderleith. 99.59% of water samples taken from the taps of the customers were compliant with quality requirements, exceeding the 95% requirement established by law and the Services Agreement.

AS Tallinna Vesi invested 274.3 million kroons (17.53 million euros) into reconstruction and construction of new fixed assets in 2010. The main new projects were the construction of the additional treatment stage at Paljassaare wastewater treatment plant and the completion of the network extension program. AS Tallinna Vesi laid 61.9 kilometres of new pipes in 2010 and gave more than 1,100 families the opportunity to connect to the public water and wastewater network.