AS Tallinna Vesi total sales increased by 6.6 per cent to 192.8 million kroons in the first quarter of 2009, the company's net profit increased by 9.9 per cent to 98.4 million kroons and the volume of investments reached 41.7 million kroons. AS Tallinna Vesi's Chairman of the Management Board Ian Plenderleith said that the strong financial results reflect the company's drive for efficiency and quality. „As the result of extremely high cost inflation we once again rechallenged our cost efficiency in 2008 and are glad to witness the results in the first quarter of 2009. We have been working hard on all the quality and efficiency aspects since 2001 and that has enabled us to deliver the expected return,” said Ian Plenderleith, adding that AS Tallinna Vesi's water quality indicators remain at 98 per cent of EU requirements, thus well exceeding the level required by the Levels of Services agreement between the Company and the City of Tallinn. “We are pleased to report that we have been capable to balance the interest of various stakeholders. We continue the delivery of high quality water for the customers with affordable tariffs. Our efforts in the community and environment were recognised as the Company shared first place in the annual CSR awards in 2008. During the three months of 2009 the Company invested 41.7 million kroons, of which 32.3 million kroons were invested into the networks extension and development program, 5 million kroons into the Paljassaare wastewater treatment plant , 0.6 million kroons into improving water quality and 3.8 million kroons into other investment areas. „The total volume of investments made in the first quarter of the year has historically reflected the slower pace of construction works during the winter months, however the Company intends to invest approximately 350 million kroons in 2009,“ explained Plenderleith. In the first quarter of 2009 we concluded a new loan facility with NIB for the networks extensions programme. AS Tallinna Vesi continues to maintain its debt levels close to its recommended range of 50 per cent with total liabilities to total capital employed of 48.2 per cent as of March 31st 2009. The debt to total capital has decreased by 2.2 per cent in comparison with Q1 2008. The Company's return-on-assets was 3.7 per cent in Q1. Priit Koff Head of Communications AS Tallinna Vesi +372 6262 209 priit.koff@tvesi.ee