OREANDA-NEWS. July 26, 2010. In the first half of 2010 AS Tallinna Vesi’s sales increased by 1.4 per cent to 387 mln EEK (24,73 million EUR) compared to the first half of 2009. Revenues from the main services area in Tallinn reduced by 2.6% to 359.2 mln EEK (22,96 mln EUR) in the current half year compared to the half year 2009. This is as a result of the reduction in the water and sewerage tariff by 0.9% from 1st January 2010 along with a decline from the previous year in sales volumes in both the domestic and commercial sectors in Tallinn.

Revenue from sales of water and wastewater outside of the service area increased by approximately 115% to 27.8 mln EEK (1,78 mln EUR) due to both the impact of the contract with Maardu Vesi and additional stormwater flows following the end of the severe winter weather. Overall the sales of AS Tallinna Vesi improved in quarter 2 compared to the sales in quarter 1. Total sales for quarter 2 were 195.6m EEK (12,5 mln EUR) which represented an increase of 3.5% on the same period in 2009. In comparison 2010 quarter 1 sales of 191.4m EEK (12,23 mln EUR) were down 0.7% against quarter 1 2009. This improvement has been generated mainly by improvements in the volumes sold to clients within the commercial sector in Tallinn and those clients outside the service area.

AS Tallinna Vesi’s Chairman of the Management Board Ian Plenderleith said that in Q2 2010 the improved economic activity in Tallinn has contributed to an increase in sales volumes in Tallinn. „This factor combined with our expansion in to Maardu has helped offset the impact of largely uncontrollable cost increases in environmental taxes and electricity charges,“ said Plenderleith.

During the first six months of the year the company made a profit before tax of 172.9m EEK (11,1 mln EUR) which is in line with the profit earned in the same period of 2009.