Estonia, Markets and Companies, Water
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Thursday, 25.04.2024, 04:16
Tallinna Vesi’s 2014 total sales increased by 0.3%, net profit decreased by 10%
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As the company’s tariffs are frozen at the 2010 tariff level, the changes in the revenues from main activities i.e. from sales of water and wastewater services are fully driven by consumption, the company said. Despite the slight increase in annual total sales, the company’s 2014 net profit has decreased by 10% or 2 million euros, compared to 2013. The decrease in net profit has mainly been influenced by the changes in the fair value of swap contracts.
The operating profit of 2014 has also remained relatively stable, increasing by 0.3% to 24.83 million euros. Operating profit is continuously affected by legal fees related to an ongoing tariff dispute.
Nasdaq Baltic Market Awards awarded the company with the Best Investor Relations in the Baltics for the second consecutive year this year. AS Tallinna Vesi was also recognized as the most attractive company in Nasdaq Baltic Market.
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