Tallinna Vesi’s half-year net profit decreased by 2 mln euros

7/20/2012 2:31 AM EST

Tallinna Vesi
Company Announcement 

Tallinna Vesi’s half-year net profit decreased by 2 mln euros

AS Tallinna Vesi’s net profit decreased by 2.0 mln euros or 21% to 7.5 mln
euros during the first half-year of 2012 compared to 2011. 

„The profit decrease was mainly related to the impact from one-off
non-regulated income and expenses like decrease in construction profits,
one-off collection of bad debt in 2011 only and adverse impact from non-cash
revaluation of fair value of swap agreements, “  explained Ian Plenderleith,
adding that „The Company’s underlying financial performance was solid and once
again the Company improved its customer service and environmental indicators.“ 

The Company invested 4.4 mln euros during the first half-year of 2012. 2.6 mln
euros were invested in treatment plants & networks to improve the quality of
water and wastewater, 0.6 mln euros were invested to improve the  efficiency in
long term and 1.2 mln euros was related to the construction of connection
points and completion of networks extension program. 




         Mariliis Mia Topp
         Head of Communications
         AS Tallinna Vesi
         62 62 275