As reported by ERR, Tallinn utility company Tallinna Vesi has seen a growth in both turnover and net profits, year-on-year (y-o-y) to Q2 2018.
According to Tallinna Vesi CEO Karl Brookes this net profit increase was mainly impacted by lower income tax costs, related to reduced dividend payments. Since Tallinna Vesi operates with a frozen tariff, sales from its main services vary dependent on consumption only, and no other factor.
With regard to operational results, key indicators, such as water quality and leakage rate, for example, remain excellent, the company says.
This is largely connected with the company's targeted capital investments – several large network reconstruction projects are either finished or are ongoing and the company is also pressing on with investments into water- and wastewater treatment plants.
Tallinna Vesi draws the bulk of its drinking water from Lake Ülemiste, the large lake which dominates the southern approaches to Tallinn and is adjacent to the airport, which then passes through the Ülemiste water treatment plant. However the company is working on alternative ways to take that water directly from its catchment area before it reaches the lake itself. The Estonian environmental board has signed off the proposal, so the company now has the green light to proceed with a more detailed design for the project.
Editor: Andrew Whyte