AS Tallinna Vesi Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2013
January 24, 2014 at 10:02 am
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AS Tallinna Vesi reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2013. For the quarter, the company's revenue was EUR 13.778 million against EUR 13.709 million a year ago. Operating profit was EUR 6.551 million against EUR 8.572 million a year ago. EUR 2.02 million decrease was mostly affected by the fact that the extension program of water and wastewater network was finished in 2012 and in 2013 there was no income for the compensation for pipes. Profit before taxes was EUR 6.193 million against EUR 8.663 million a year ago. Net profit was EUR 6.193 million against EUR 8.663 million a year ago. Net profit attributable to equity holders of A-shares was EUR 6.192 million or EUR 0.31 per share against EUR 8.662 million or EUR 0.43 per share a year ago. Net profit attributable to equity holders of B-shares was EUR 0.60 million or EUR 600 per share against EUR 0.60 million or EUR 600 per share a year ago. ROA was 3.1% against 4.3% a year ago. ROE was 7.1% against 10.2% a year ago. Decrease in operating profit was mostly affected by the fact that the extension program of water and wastewater network was finished in 2012 and in 2013 there was no income for the compensation for pipes.
For the year, the company's revenue was EUR 53.087 million against EUR 52.924 million a year ago. Operating profit was EUR 24.757 million against EUR 28.771 million a year ago. Profit before taxes was EUR 24.561 million against EUR 27.065 million a year ago. Net profit was EUR 19.936 million against EUR 22.599 million a year ago. Net profit attributable to equity holders of A-shares was EUR 19.935 million or EUR 1.00 per share against EUR 22.598 million or EUR 1.13 per share a year ago. Net profit attributable to equity holders of B-shares was EUR 0.60 million or EUR 600 per share against EUR 0.60 million or EUR 600 per share a year ago. Total cash flow from operating activities was EUR 29.797 million against EUR 31.720 million a year ago. Acquisition of property, plant and equipment, and intangible assets were EUR 9.187 million against EUR 10.011 million a year ago. ROA was 9.8% against 11.3% a year ago. ROE was 22.9% against 26.7% 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 
