The Company’s 2014 total sales have remained relatively stable compared to 2013 increasing by 0.3% to 53.24 million euros. As the Company’s tariffs are frozen at the 2010 tariff level, the changes in the revenues from main activities i.e. from sales of water and wastewater services are fully driven by consumption. Despite the slight increase in annual total sales, the Company’s 2014 net profit has decreased by 10% or 2 million euros, compared to 2013. Decrease in net profit has mainly been influenced by the changes in the fair value of swap contracts.
The operating profit of 2014 has also remained relatively stable, increasing by 0.3% to 24.83 million euros. Operating profit is continuously affected by legal fees related to an ongoing tariff dispute.
The Company is committed to the consistent improvement of operational and quality indicators as well as providing reliable service to the customers. Despite the fact, that the tariffs have been frozen, the operational performance in 2014 was still very good including the highest ever compliance for water quality.
AS Tallinna Vesi is continuously dedicated to transparency and openness. This is clearly demonstrated by the results of 2014 Baltic Market Awards. “We believe that this recognition reflects trust and confidence in the Company and it extends beyond investor relations” said the Chief Financial Officer Riina Käi. Nasdaq Baltic Market Awards awarded the Company with the Best Investor Relations in the Baltics for the second consecutive year. AS Tallinna Vesi was also recognized as the most attractive company in Nasdaq Baltic Market.
Mariliis Mia Topp
AS Tallinna Vesi
Head of Communications
Tel:(+372) 62 62 275
mariliismia.topp@tvesi.ee