AS Tallinna Vesi’s sales have increased by 2.4% in the first half-year of 2015


Within the first 6 months of 2015, the sales have increased by 2.4% to 27.31 million euros compared to the same period in 2014. The operating profit has increased by 8.7% or 1.04 million euros to 12.92 million euros, which is mainly driven by the fact that the Company has not been forced to pay additional pollution taxes in 2015. A new water permit issued early 2014 reduced the allowed concentration of heavy metals in treated effluent up to 400 times compared to the previous permit. Due to this change the Company paid additional pollution tax in the first two quarters of 2014. In September 2014, a renewed water permit was issued from which these limit concentrations had been removed. After the last renewal of the permit the Company has not paid any additional pollution tax, which is also reflected in the financial results of the first half-year of 2015.

The operational results of the first half of 2015 can be characterised with stability in the quality of our services. Above all, this provides confidence to all consumers that they are provided with a high-quality drinking water, stable water supply and wastewater service.

Concerning ongoing tariff dispute between AS Tallinna Vesi and the Competition Authority, on 5th of June 2015, the Tallinn Administrative Court dismissed the Company’s complaint. The Court did not publish any reasoning of the decision. AS Tallinna Vesi emphasises that this is not the final ruling and confirms that the first instance decision will be appealed. Until the final ruling on the tariff dispute the interim injunction remains in force, by which the tariffs remain frozen 2010 level.