AS Tallinna Vesi Supervisory Council confirmed 2012 financial results
The Supervisory Council of AS Tallinna Vesi approved the audited financial results for the year 2012. The financial results remained unchanged compared to the preliminary disclosure on 25th of January 2013.
The Company’s total sales amounted to 52.9 million euros in 2012, showing 3.3% increase compared to 2011. The sales showed an increase in domestic sector as well as in the commercial sector and in other municipalities outside the main service area.
AS Tallinna Vesi’s operating profit in 2012 was 28.8 million euros, being comparable with 2011. Lower revenues from network construction were compensated by increased volumes from main activities. The real return on invested capital in the Company's main business was 6.6% in 2012 and 6.2% during the period after privatization from 2001, which is in accordance with the rates of return made by other privatized water utilities.
Compared to 2011 the non-monetary influence of revaluation of SWAP contracts has decreased significantly. Mostly the impact of this non-monetary swap contract revaluation is the contributor to a 5.1% increase in the Company’s net profit to 22.6 million euros.
Chief Financial Officer
Member of the Management Board
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