{"id":4938,"date":"2017-01-27T09:37:02","date_gmt":"2017-01-27T07:37:02","guid":{"rendered":"https:\/\/www.tallinnavesi.ee\/?p=4938\/"},"modified":"2017-01-27T09:37:02","modified_gmt":"2017-01-27T07:37:02","slug":"as-tallinna-vesis-net-profit-for-2016-decreased-by-7-4-year-on-year","status":"publish","type":"post","link":"https:\/\/tallinnavesi.ee\/en\/as-tallinna-vesis-net-profit-for-2016-decreased-by-7-4-year-on-year\/","title":{"rendered":"AS Tallinna Vesi\u2019s net profit for 2016 decreased by 7.4% year-on-year"},"content":{"rendered":"

The Company\u2019s total sales revenue for 2016 was EUR 58.98 million, showing an increase of 5.5% or EUR 3.05 million year-on-year. At the same time AS Tallinna Vesi\u2019s net profit for 2016 decreased by 7.4% or EUR 1.47 million compared to the same period in 2015.<\/p>\n

The Company\u2019s tariffs are frozen at the 2010 tariff level and changes in revenues from the main activities, i.e. the sales of water and wastewater services, are fully driven by consumption. Whilst the revenues from the sales of water and wastewater services in the main service area have been higher, the revenues from outside areas has shown a slight decline. The highest growth in total sales \u2013 an increase of EUR 1.8 million year-on-year \u2013 came from construction and asphalting services, as the Company is seeking ongoingly for possibilities to grow the non-regulatory business.<\/p>\n

An increase of 3.1% or EUR 1.01 million in gross profit was mainly impacted by considerably higher total sales, profit from construction and asphalting services and lower chemicals costs, which were offset by higher costs of other direct production costs, salaries and depreciation.<\/p>\n

Decrease in the net profit by 7.4% or EUR 1.47 million compared to 2015 was impacted by higher legal costs, which are related to the ongoing tariff dispute. Net profit was also negatively impacted by the revaluation of swap contracts.<\/p>\n

Riina K\u00e4i<\/p>\n

AS Tallinna Vesi<\/p>\n

Chief Financial Officer<\/p>\n

Ph: (+372) 62 62 262<\/p>\n

riina.kai@tvesi.ee<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Company\u2019s total sales revenue for 2016 was EUR 58.98 million, showing an increase of 5.5% or EUR 3.05 million year-on-year. At the same time AS Tallinna Vesi\u2019s net profit for 2016 decreased by 7.4% or EUR 1.47 million compared to the same period in 2015. The Company\u2019s tariffs are frozen at the 2010 tariff … Continued<\/a><\/p>\n","protected":false},"author":24,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[34],"tags":[],"class_list":["post-4938","post","type-post","status-publish","format-standard","hentry","category-investor-news-eng"],"acf":[],"yoast_head":"\nAS Tallinna Vesi\u2019s net profit for 2016 decreased by 7.4% year-on-year - 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\/as-tallinna-vesis-net-profit-for-2016-decreased-by-7-4-year-on-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AS Tallinna Vesi\u2019s net profit for 2016 decreased by 7.4% year-on-year - Tallinnavesi\" \/>\n<meta property=\"og:description\" content=\"The Company\u2019s total sales revenue for 2016 was EUR 58.98 million, showing an increase of 5.5% or EUR 3.05 million year-on-year. 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