Energy, Estonia, Good for Business, Technology

The group’s nine months sales revenue was 36 million euros and in the accounting quarter 11.6 million euros. The revenue fell by 10.5% in nine months and 20.3% in the third quarter.

From the beginning of the year, the operating profit has grown steadily quarter to quarter, reaching 0.8 million in the third quarter and being almost on the same level as in comparable periods. In the accounting quarter, EBIT improved by 1 percentage point and was 6.6% versus 5.6% at the same time last year. In the 9 months-period, the operating profit amounted to 1.5 million euros and EBIT was 4.2% versus 4.5% at the same time last year.

The decrease in consolidated sales revenue was caused by a decrease in sales and commissions in the production segment, which accounted for about 90% of sales revenue this year. Around 83% of the sales revenue came from the production and sale of electrical equipment. In the accounting quarter, both the production and sales volume of electrical devices decreased by 2.8 million euros, reaching 9.5 million euros, and in the period of 9 months, by 4.0 million euros reaching 29.8 million euros. The greatest setbacks in the production volumes of electrical devices occurred in the segments of Finland (-3.0 million euros) and Lithuania (-0.9 million euros).

61% of the group’s products and services were sold in foreign markets, outside Estonia (65% at the same time last year) and 93% revenues received from the group’s companies home markets – Estonia, Finland, Sweden, Lithuania.

In the third quarter, an average of 454 people worked in the group.