{"id":28081,"date":"2023-07-28T09:05:43","date_gmt":"2023-07-28T06:05:43","guid":{"rendered":"https:\/\/tallinnavesi.ee\/?p=28081"},"modified":"2023-07-28T09:20:12","modified_gmt":"2023-07-28T06:20:12","slug":"tallinna-vesi-increased-its-sales-and-profit-in-the-second-quarter","status":"publish","type":"post","link":"https:\/\/tallinnavesi.ee\/en\/tallinna-vesi-increased-its-sales-and-profit-in-the-second-quarter\/","title":{"rendered":"Tallinna Vesi increased its sales and profit in the second quarter"},"content":{"rendered":"

AS Tallinna Vesi<\/strong>\u2019s\u00a0<\/strong>sales increased to\u00a0<\/strong>\u20ac<\/strong>15.41 million and operating profit to\u00a0<\/strong>\u20ac<\/strong>4.13 million<\/strong>\u00a0in the second quarter<\/strong>.\u00a0<\/strong>According to the\u00a0<\/strong>C<\/strong>ompany’s interim report for the second quarter of 2023, t<\/strong>he increase in sales\u00a0<\/strong>resulted from<\/strong>\u00a0price<\/strong>\u00a0increase<\/strong>\u00a0to cover<\/strong>\u00a0higher production costs<\/strong>.<\/strong><\/p>\n

In the second quarter, sales from water services provided to both private and commercial customers increased. Sales revenue from water services sold to AS Tallinna Vesi\u2019s commercial customers was \u20ac4.42 million in the second quarter, which is 4.1% more than last year. Sales from water services sold to private customers increased 23.2%t compared to the same period last year and totaled \u20ac6.15 million.<\/p>\n

The Company\u2019s operating profit was \u20ac4.13 million in the second quarter. Operating profit grew by \u20ac1.05 million compared to the second quarter of last year. The operating profit for the six months of 2023 was \u20ac8.20 million, showing an increase of \u20ac2.11 million from the previous year.<\/p>\n

The Company\u2019s net profit was \u20ac2.31 million in the second quarter of 2023, which is \u20ac1.36 million more than in the same period last year.<\/p>\n

According to\u00a0Aleksandr Timofejev, Chief Executive Officer of Tallinna Vesi, the increase in net profit is related to the change of price for water services that was applied from the fourth quarter of last year. \u201cThe recovery in net profit was driven by the increase in production costs being reflected in sales,\u201d he explained.<\/p>\n

The quality indicators remaining stable at high levels indicate that Tallinna Vesi provides reliable water and wastewater services \u2013 water samples taken during the six months of 2023 confirmed that tap water meets 100% of the high quality standards established for drinking water. \u201cHigh quality drinking water is a valuable resource that cannot be taken for granted. Behind the excellent water quality, there are many people, a lot of strategic work and science,\u201d Timofejev said.<\/p>\n

Clean tap water has been ensured by an efficient water treatment process, regular monitoring and ongoing preventative maintenance work on the water network. \u201cAt the beginning of 2023, we introduced the ice pigging technique for the maintenance of water pipes, and in six months we have washed 73 km of water network with ice,\u201d Timofejev pointed out. Ice pigging is a unique pipe cleaning technology in which an ice slurry made of water and table salt is pumped through the pipeline.<\/p>\n

Early in July this year, Tallinna Vesi provided clean drinking water at the XIII Youth Song and Dance Festival \u201cP\u00fcha on maa\u201d (\u201cSacred is the land\u201d), by taking more than 100,000 litres of pure drinking water to the festival rehearsals and performances. This way, Aleksandr Timofejev says, the singers, dancers and the audience together managed to avoid the spending of resources related to the production, transport and handling of more than 200 thousand plastic bottles. At the Song and Dance Festival, water was provided from water tanks, as well as from drinking water taps that were set up at the Tallinn Song Festival Grounds and Kalev Stadium. These taps are stationary and remain at the service of the people of Tallinn and its visitors.<\/p>\n

Wastewater analyses confirmed that the wastewater treated in the second quarter contained significantly less pollutants than required by law. This indicator is important as the quality of treated effluent has a direct impact on the Baltic Sea and on the environment. \u201cIn the six months of 2023, we have taken 355 tons of debris, 89 tons of grit, 938 tons of nitrogen and 126 tons of phosphorus out of the wastewater,\u201d Timofejev pointed out.<\/p>\n

The level of water loss in the water network dropped in the second quarter. Ongoing rehabilitation of water pipes contribute to reducing water losses. In 2023, Tallinna Vesi has rehabilitated 14 kilometers of networks and extensive reconstruction works continue over the summer as planned.<\/p>\n

The biggest project at the Wastewater Treatment Plant in 2023 is the reconstruction of digesters, which will result in Tallinna Vesi producing even more biogas from sludge generated during the wastewater treatment process. In parallel, construction works are currently underway at the Wastewater Treatment Plant at Paljassaare for the construction of a cogeneration plant, which will allow to produce not only the heat energy, but also most of the electricity needed for the wastewater treatment process from biogas in the future. The cogeneration plant is scheduled to be launched in the fourth quarter.<\/p>\n

AS Tallinna Vesi entered into loan agreements totaling \u20ac131 million. The loan agreements concluded will facilitate AS Tallinna Vesi\u2019s capital investment program during 2023-2025. In 2023, the Company will invest \u20ac35 million to meet the Company’s strategy and the objectives set out in the Public Water Supply and Sewerage System Development Plan adopted by the City. The loan agreements will facilitate the following major projects: reconstruction of digesters and construction of a combined heat and power plant at the Wastewater Treatment Plant, reconstruction of filters and clarifiers at the Water Treatment Plant, and investments to the reconstruction and construction of networks.<\/p>\n

On May 17-19, the very first ISO\/IEC 27001:2013 certification took place and the certificate issued certifies that our information security management system meets the requirements of ISO\/IEC 27001:2013. The certificate issued to AS Tallinna Vesi is valid until 26\/06\/2026.<\/p>\n

AS Tallinna Vesi is the largest water utility in Estonia, providing services to more than 24,900 private customers and businesses and 470,000 end consumers in Tallinn and its surrounding municipalities. Tallinna Vesi is listed on the main list of the Nasdaq Tallinn Stock Exchange. The largest shareholdings in the Company are held by the City of Tallinn (55.06%) and the energy group Utilitas (20.36%). 24.58% of the Company’s shares are free floating on the Nasdaq Tallinn stock exchange.<\/p>\n

Interim report for the second quarter of 2023<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

AS Tallinna Vesi\u2019s\u00a0sales increased to\u00a0\u20ac15.41 million and operating profit to\u00a0\u20ac4.13 million\u00a0in the second quarter.\u00a0According to the\u00a0Company’s interim report for the second quarter of 2023, the increase in sales\u00a0resulted from\u00a0price\u00a0increase\u00a0to cover\u00a0higher production costs. In the second quarter, sales from water services provided to both private and commercial customers increased. Sales revenue from water services sold to … Continued<\/a><\/p>\n","protected":false},"author":24,"featured_media":28086,"comment_status":"closed","ping_status":"closed","sticky":true,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-28081","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"yoast_head":"\nTallinna Vesi increased its sales and profit in the second quarter - Tallinnavesi<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tallinnavesi.ee\/en\/tallinna-vesi-increased-its-sales-and-profit-in-the-second-quarter\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tallinna Vesi increased its sales and profit in the second quarter - Tallinnavesi\" \/>\n<meta property=\"og:description\" content=\"AS Tallinna Vesi\u2019s\u00a0sales increased to\u00a0\u20ac15.41 million and operating profit to\u00a0\u20ac4.13 million\u00a0in the second quarter.\u00a0According to the\u00a0Company’s interim report for the second quarter of 2023, the increase in sales\u00a0resulted from\u00a0price\u00a0increase\u00a0to cover\u00a0higher production costs. 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