AS Tallinna Vesi's total sales in 2012 are 3,3% higher due to increased sales volumes
AS Tallinna Vesi's total sales in 2012 are 3,3% higher due to increased sales
The Company’s total sales increased to 52,9 million euros in 2012, showing 3,3%
increase compared to 2011. The sales increased mainly due to an increase from
the commercial sector and from other municipalities outside the service area.
AS Tallinna Vesi’s operating profit in 2012 was 28,8 million euros, being
comparable with 2011. Increased sales volumes from the main business activities
were offset by lower income from connections. Compared to 2011 the non monetary
influence of revaluation of swap contracts has decreased significantly, in 2011
this the company had a negative P&L movement of 2,22 million Euros however 2012
it resulted in a positive movement of 0,09m Euros. This impact of this
non-monetary swap contract revaluation is the main contributor to a 5,1%
increase in the Company’s net profit to 22.6m Euros.
Chairman of the Board Ian Plenderleith said that the Company’s operating and
quality indicators show consistent improvement. “The highlight of 2012 would be
tap water quality which is comparable to the Western-European water quality
level, remarkably improved indicators in wastewater treatment, network
operations and in customer service” he added. Due to excellent operational
performance and efficiency the operating profit from main business activity by
5,2% in 2012.
“The Company’s financial, operational and environmental performance was
excellent in 2012, despite that the tariffs have been frozen at the level of
2010”, said Plenderleith.
The Company was recognized for eminent investor relations, being awarded with
second place on all the Baltic Stock Exchanges by Nasdaq OMX for the Best
Investor relations. In addition the Company was awarded 2nd place for Best
Investor Relations Online and Best Annual Report on all the Baltic Stock
Exchanges. “It is extremely satisfying that the local and international
investors and market participants recognise the open communication and hard
work we do to present our company in the most accurate and transparent way
possible. It is gratifying to remain the leading stock exchange company in
Estonia for investor relations and governance. We would like to thank all of
our partners for their efforts in working with AS Tallinna Vesi that have
helped us to achieve such recognition despite the complicated environment we
are operating in,” said Plenderleith.
With regards the matters of economic and quality regulation the Company has
continuously stated its belief in fully transparent regulation and its
willingness to enter into meaningful dialogue that takes into account the
privatization contract signed in 2001.
Mariliis Mia Topp
Head of Commincations
AS Tallinna Vesi
62 62 275