AS Tallinna Vesi Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016
January 27, 2017 at 02:02 pm IST
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AS Tallinna Vesi announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company reported revenues of €14,519,000 compared with €14,534,000 for the same period a year ago. Operating profit was €5,363,000 compared with €6,745,000 for the same period a year ago. Profit before tax was €5,453,000 compared with €6,237,000 for the same period a year ago. Net profit for the period was €5,453,000 compared with €6,237,000 for the same period a year ago. Net profit for the period attributable to equity holders of A shares was €5,453,000 or €0.27 per share compared with €6,237,000 or €0.31 per share for the same period a year ago. Net profit for the period attributable to equity holders of B shares were €0.60 or €600 per share compared with €0.60 or €600 per share for the same period a year ago. Total cash flows from operating activities were €31,111,000 compared with €31,449,000 for the same period a year ago. ROA was 2.55% compared with 2.98% for the same period a year ago. ROE was 6.10% compared with 7.01% for the same period a year ago.
For the year, the company reported revenues of €58,982,000 compared with €55,928,000 for the same period a year ago. Operating profit was €24,627,000 compared with €25,578,000 for the same period a year ago. Profit before tax was €22,890,000 compared with €24,358,000 for the same period a year ago. Net profit for the period was €18,390,000 compared with €19,858,000 for the same period a year ago. Net profit for the period attributable to equity holders of A shares was €18,389,000 or €0.92 per share compared with €19,857,000 or €0.99 per share for the same period a year ago. Net profit for the period attributable to equity holders of B shares were €0.60 or €600 per share compared with €0.60 or €600 per share for the same period a year ago. Total cash flows from operating activities were €31,872,000 compared with €31,111,000 for the same period a year ago. Acquisition of property, plant and equipment’s and intangible assets was €14,526,000 compared with €13,495,000 for the same period a year ago. ROA was 8.61% compared with 9.50% for the same period a year ago. ROE was 20.57% compared with 22.31% for the same period a year ago. Decrease in the net profit by 7.4% or €1.47 million compared to 2015 was impacted by higher legal costs, which are related to the ongoing tariff dispute. Net profit was also negatively impacted by the revaluation of swap contracts.
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%.