AS Tallinna Vesi´s sales decreased by 2,3%

Photo: Raul Mee / Äripäev

During the 1^st quarter of 2013 the total sales decreased by 2,3% to 12,7 million euros. It was mainly due to lower storm water revenues as well as there has been slight decrease in domestic sector. Gross profit decreased in the 1^st quarter of 2013 by 8.1%.

The operating profit from the Company’s main business activity decreased by 10.4% to 6.2 mln euros during the three months of 2013 compared to the same periood of 2012. Company’s total operating profit also decreased by 11.4% during the same period, partly as a result of completion of the sewage extension construction program in 2012, and therefore there were no revenues from government grants in 2013.

Chairman of the Board Ian Plenderleith said that the Company continues to focus on the improvement of operational performance and customer service. „Operating and quality indicators are in a stable and very high level, despite that the tariffs have been frozen at the level of 2010,“ he added.

On 25^th of April, the Management Board included a proposal to the AGM of shareholders to pay a dividend from the 2012 results of 87 cents per share, which is an increase of 3.9% year on year. This increase is the same as Estonian inflation and in “real” terms maintains dividends at the same level as the previous year.