AS Tallinna Vesi Announces Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2011
January 27, 2012 at 09:29 pm IST
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AS Tallinna Vesi announced earnings results for the fourth quarter and full year ended December 31, 2011. For the quarter, the company's total sales were EUR 13.1 million against EUR 12.5 million, an 4.9% increase compared to the same period of 2010. Due to increased sales volumes in Tallinn and sales to surrounding municipalities . Operating profit was EUR 8.0 million against EUR 7.1 million, increased by 5.9%. Total operating profit increased by 13.4% compared to the same period of 2010. Profit before taxes decreased by 3.1%. Profit before tax was EUR 7.7 million against EUR 7.9 million a year ago. Net profit was EUR 7.7 million against EUR 7.9 million a year ago. ROA was 4.0% against 4.3% a year ago.
For the year, the company's total sales were EUR 51.2 million increased by 3.1% compared to 2010 to EUR 49.7 million. Profit before taxes increased by 3.5% to EUR 25.8 million against EUR 24.9 million a year ago. Net profit was EUR 21.5 million against EUR 16.4 million a year ago was primarily the result of lower income tax on dividends paid in 2011 compared to 2010. ROA was 11.2% against 8.9% a year ago. Cash flow from operating activities was EUR 30.2 million against EUR 5.4 million a year ago.
Tallinna Vesi AS is an Estonia-based company engaged in the supply of water and treatment of wastewater services in the city of Tallinn and in its surrounding areas. The Company operates two main facilities: Ulemiste Water Treatment Plant that collects and purifies raw water and releases it into the network as drinking water, and Paljassaare Wastewater Treatment Plant, which conducts sewage and storm water from the city for treatment and releases it three kilometers from the coast to the Baltic Sea. The Company also provides such services as drinking water and wastewater analysis, water and sewerage pipeline works, design pipelines and pipeline construction, among others.Tthe Company operates through one wholly owned subsidiary, namely Watercom OU, which provides non-core services related to water business. As of December 31, 2011, the Companyâs major shareholder was United Utilities (Tallinn) BV with a stake of 35.3%.
AS TALLINNA VESI 
