Estonia, Financial Services, Port, Transport

The company's profit in 2015 dropped 72.6% year over year to 658,345 euros.

AS Eesti Loots performed 9,397 acts of pilotage during 2015, 1,112 acts or 10.5% less than in 2014. The company points out in its annual report that the year 2015 witnessed a substantial reduction in the number of ship visits, which Eesti Loots did not foresee when the budget for 2015 was drafted.

The biggest reductions in the numbers of acts of pilotage were registered in the ports of Muuga and Sillamae – by 20% in each, and in the ports of Kunda and Loksa, where the rate of decline was 15%.

The company's net profit for the period was 658,345 euros, 43.1% smaller than the projected profit of 1.5 million euros. Sales were down 14% at 8.7 million euros.

The company paid 2.1 million euros in contributions toward the cost of two brand new pilot boats built under the fleet renewal program launched in 2005. Under the program, two new pilot boats were completed at the beginning of 2016.

The number of employees, 119, was on a par with 2015 and wage costs increased 2.7% to 3.7 million euros.