Published: 2019-04-26 08:10:00 CEST
Tallinna Vesi
Company Announcement

AS Tallinna Vesi´s sales increased by 4.2%

In the 1st quarter of 2019, the Company’s sales revenue increased by 4.2% to €14.66 million year-on-year.

Company´s gross profit for the 1st quarter was €8.26 million, a decrease of 0.7% or €0.06 million, compared to the 1st quarter of 2018. Slight decrease in gross profit was balanced by lower administrative and financial costs.

Sales to domestic clients within the main service area increased by 1%, whereas sales to corporate clients decreased by 2.7%, due to relocation of several big consumers. On the other hand, sales to clients outside the main service area, increased by 21%. The increase was related to the abovementioned relocations. Besides higher consumption, the increase in sales was also related to stormwater discharge service. Sales related to construction and asphalting services increased considerably by 97.2% year-on-year.

Tallinna Vesi’s net profit was €6.68 million showing an increase of 2.3% in comparison with the same period of 2018.

The Supervisory Council proposes a dividend pay-out of 0.75 euros per share. The proposal will be voted upon at the next annual general meeting on 30 May 2019.

AS Tallinna Vesi is still awaiting a verdict from the ICSID Arbitration Panel, with the decision is expected by the 3 May 2019.

Eliis Vennik
Head of Customer Relations and Communications
Tallinna Vesi
(+372) 626 2275
Eliis.vennik@tvesi.ee