Construction, Estonia, Good for Business, Real Estate

The operating profit for the first quarter amounted to 0.3 million. The same period in 2012 ended in an operating loss of 0.5 million euros.

In the first quarter of 2013, the group generated revenue of 2.8 million euros compared with 3.6 million euros in the first quarter of 2012. Revenue was 22% smaller than in the comparative period mainly because construction volumes decreased significantly. At the same time, the revenue of the service division remained stable and the development division increased its revenue by 71% (year over year).

At the end of the first quarter, the group’s order backlog stood at 2.3 million euros compared with 12.9 million euros at the end of the first quarter of 2012. In 2013, the group will duly complete all environmental engineering projects, which are in progress. After that, the group is planning to discontinue provision of environmental engineering services.

In the first quarter, the group sold 15 apartments and plots in its self-developed projects (2012 Q1: 4).