Business, Estonia, Markets and Companies

In comparison to the profits earned in 2008 – 296 million kroons in total –, the company’s 2009 results were by 14.9% better.

Tallinna Vesi’s net profit margin was 44% in 2009 while this indicator was 41.1% in 2008.

Tallinna Vesi reported that in 2009, it improved its turnover by 7.3% to 772.4 million kroons.

The CEO of the enterprise Ian Plenderleith stated that last year’s results were significantly affected by the fourth quarter. “The fourth-quarter financial results were mostly affected by two factors – due to completion of new sewage pipes, the enterprise earned extra revenue due to connecting new customers and 0.5 times of pollution fees coefficient exemption was implemented towards the company for removing nitrogen from the sewage water,” he explained.

Tallinna Vesi invested 251.6 million kroons in 2009, 208.7 million kroons of which was invested into construction and developing of networks, 17.4 million kroons into the sewage water purification plant at Paljassaare, 6.4 million kroons into improving the quality fo water and 19.1 million kroons to other investments.