Market announcement
AS TALLINNA VESI
LEI code
5493000M6TVS2X0KWC97
Size of the entity
Large group
Economic activities
Water Supply; Sewerage, Waste Management and Remediation Activities
Country of registered office
Estonia
General information
Categories
Management interim statement or quarterly financial report
Unique data record identifier
10284
Attachments
Submission date and time
28.04.2023 09:00:00
Content of announcement in Estonian
Title
AS-i Tallinna Vesi 2023. aasta esimese kvartali finantstulemused
Message
AS Tallinna Vesi teenis 2023. aasta esimeses kvartalis 14,6 miljonit eurot
müügitulu ja 3,50 miljonit eurot puhaskasumit. Esimese kvartali investeeringute
maht põhivarasse suurenes eelmise perioodiga võrreldes 68%, ulatudes 4,7 miljoni
euroni.
2023. aastal tõusis veeteenuste müügitulu esimeses kvartalis võrreldes eelmise
aasta sama perioodiga 18,6%.
Põhitegevuspiirkonna äriklientidele müüdud veeteenustest saadud tulu suurenes
esimeses kvartalis 11,2%, jõudes 4,27 miljoni euroni. "Esimese kvartali
müügitulu kasvas tänu müügihinnas kajastuvale tootmiskulude tõusule ja
veetarbimise suurenemisele pealinna majutus- ja vabaajaasutustes. Samuti mõjutas
müügitulu suurenemist ehitusmahtude oluline suurenemine," sõnas Tallinna Vee
tegevjuht Aleksandr Timofejev. Tallinna Vee eraklientidele müüdud teenustest
saadud tulu tõusis esimeses kvartalis võrreldes eelmise aasta sama perioodiga
23,2% ja oli kokku 6,04 miljonit eurot.
Ettevõtte esimese kvartali brutokasum oli 5,71 miljonit eurot, tõustes eelmise
aasta sama perioodiga võrreldes 1,33 miljonit eurot. "Brutokasumi paranemine on
seotud müügihinnas kajastuvate tootmiskuludega. Brutokasum kasvas eelmise aasta
sama perioodiga võrreldes 30,4%," selgitas Timofejev.
Ettevõtte ärikasum oli esimeses kvartalis 4,07 miljonit eurot, mis oli võrreldes
eelmise aasta sama perioodiga 1,07 miljonit eurot rohkem.
Ettevõtte puhaskasum oli 2023. aasta esimeses kvartalis 3,5 miljonit eurot, mis
on 0,62 miljonit rohkem kui 2022. aasta samal perioodil.
Võrreldes eelmise aasta esimese kvartaliga suurenes tütarettevõtte Watercom
ehitusteenuste müük 119,7% ehk 0,44 miljonit eurot. Tulude kasv on eelkõige
seotud 2023. aasta ehitusmahtude suurenemisega ja 2022. aasta projektide
ületulemisega 2023. aastasse.
Tallinna Vesi on kestliku infrastruktuuri ja teenuse toimepidevuse huvides
suurendanud investeeringuid põhivaradesse. Käesoleva aasta esimese kolme kuuga
investeeris AS Tallinna Vesi põhivaradesse võrreldes eelmise aasta sama
perioodiga 68% rohkem ehk 4,7 miljonit eurot.
Järgnevate aastate investeeringute plaan lähtub Tallinna linna poolt tellitud ja
AS-i Infragate poolt järgnevaks 12 aastaks koostatud ühisveevärgi ja
-kanalisatsiooni arendamise kavast, mis on dokumendina leitav Tallinna linna
kodulehel. "Senised ja tulevased investeeringud tagavad ka edaspidi
tallinlastele joogivee kõrge kvaliteedi ja aitavad hoida looduskeskkonda
puhtamana ning läbi kaasaegsete tehnoloogiate ja materjalide tõuseb nii
torustike keskmine eluiga kui ka puhastussüsteemide efektiivsus. Nii saame
tagada elutähtsa teenuse toimepidevuse taskukohase hinnaga ja võimalikult väikse
häiringuga inimeste igapäevaelule," sõnas Timofejev.
AS Tallinna Vesi läheb järk-järgult üle kaugloetavatele veearvestitele, mis
vabastab inimesed kohustusest saata iga kuu veenäite. Esimesed kolm tuhat
klienti on endale juba uued nutiarvestid saanud ning nende paigaldamine jätkub
tänavu kõrgendatud tempos. AS-i Tallinna Vesi kogu teeninduspiirkond on
planeeritud kaugloetavate veearvestitega katta 2026. aastaks.
Lõppes oluline projekt, mille tulemusel sai Paljassaare reoveepuhastusjaama
peapumplasse paigaldatud uus pump. Hetkel töös olevad projektid: peapumpla
imibasseinide vahesiibri paigaldamine, metaantankide rekonstrueerimine,
koostootmisjaama paigaldamine ning aerotankide rekonstrueerimine, peapumpla
täiendavad võred, reoveepuhastusjaama võrede rekonstrueerimine ja järelsetitite
rekonstrueerimine.
Lisaks on AS Tallinna Vesi alustanud uuringuga, et välja selgitada, missugused
on võimalused soojustagastuseks õhupuhurite õhust, samuti osaletakse Interregi
poolt rahastatud teadusprojektis, mis käsitleb erinevate tehnoloogiate
rakendamise võimalusi PFAS-ühendite eemaldamiseks reoveest. AS Tallinna Vesi on
kaasatud ka Interregi projekti, mille eesmärk on katsetada uudset tehnoloogiat
ravimijääkide eemaldamiseks reoveest.
PÕHILISED FINANTSNÄITAJAD
miljonites eurodes 1. kvartal
v.a suhtarvud 2023 2022 2021 Muutus 2023/ 2022
-------------------------------------------------------------------------------
Müügitulu 14,60 12,05 11,78 21,1%
Brutokasum 5,71 4,38 5,18 30,4%
Brutokasumi marginaal % 39,13 36,36 43,97 7,6%
Amortisatsioonieelne ärikasum 6,02 4,64 6,23 29,6%
Amortisatsioonieelse ärikasumi marginaal % 41,22 38,53 52,83 7,0%
Ärikasum 4,07 3,00 4,66 35,6%
Ärikasum - põhitegevus 3,91 2,92 4,50 34,2%
Ärikasumi marginaal % 27,89 24,92 39,55 11,9%
Kasum enne tulumaksustamist 3,53 2,91 4,57 21,3%
Maksustamiseelse kasumi marginaal % 24,16 24,13 38,78 0,1%
Puhaskasum 3,50 2,88 4,55 21,6%
Puhaskasumi marginaal % 23,97 23,88 38,59 0,4%
Vara puhasrentaablus % 1,38 1,12 2,09 23,0%
Kohustiste osatähtsus koguvarast % 55,19 54,17 54,83 1,9%
Omakapitali puhasrentaablus % 3,11 2,46 4,70 26,2%
Lühiajaliste kohustiste kattekordaja 1,46 3,20 4,48 -54,4%
Maksevõime kordaja 1,38 3,13 4,42 -55,9%
Investeeringud põhivarasse 4,67 2,78 2,28 68,0%
Dividendide väljamaksmise määr % na na na
-------------------------------------------------------------------------------
Brutokasumi marginaal - brutokasum / müügitulu
Ärikasumi marginaal - ärikasum / müügitulu
Amortisatsioonieelne kasum - ärikasum + kulum
Amortisatsioonieelse kasumi marginaal - amortisatsioonieelne kasum / müügitulu
Puhaskasumi marginaal - puhaskasum / müügitulu
Vara puhasrentaablus - puhaskasum / perioodi keskmine vara kokku
Kohustiste osatähtsus koguvarast - kohustised kokku / vara kokku
Omakapitali puhasrentaablus - puhaskasum / perioodi keskmine omakapital kokku
Lühiajaliste kohustiste kattekordaja - käibevara / lühiajalised kohustised
Maksevõime kordaja - (käibevara - varud) / lühiajalised kohustised
Dividendide väljamaksmise määr - dividendid aastas kokku / aasta puhaskasum
kokku
Põhitegevus - veeteenustega seotud tegevused, v.a võrkude laiendamine ja
sihtfinantseerimine, ehitusteenused, lootusetud nõuded
KONSOLIDEERITUD FINANTSSEISUNDI ARUANNE
31.
tuhandetes eurodes märts 31. detsember
VARAD Lisa 2023 2022 2022
KÄIBEVARA
-----------------------------------------------------------------------------
Raha ja raha ekvivalendid 3 12 889 37 570 12 650
Nõuded ostjate vastu, viitlaekumised ja ettemaksed 7 679 6 228 8 989
Varud 1 319 922 1 197
-----------------------------------------------------------------------------
KÄIBEVARA KOKKU 21 887 44 720 22 836
PÕHIVARA
-----------------------------------------------------------------------------
Materiaalne
põhivara 4 232 513 212 732 229 869
Immateriaalne põhivara 5 765 690 688
-----------------------------------------------------------------------------
PÕHIVARA KOKKU 233 278 213 422 230 557
-----------------------------------------------------------------------------
VARAD KOKKU 255 165 258 142 253 393
KOHUSTISED JA OMAKAPITAL
LÜHIAJALISED KOHUSTISED
-----------------------------------------------------------------------------
Rendikohustised 963 464 883
Laenukohustised 3 630 3 630 3 630
Võlad tarnijatele ja muud
võlad 7 752 6 587 10 225
Ettemaksed 2 596 3 302 3 749
-----------------------------------------------------------------------------
LÜHIAJALISED KOHUSTISED KOKKU 14 941 13 983 18 487
PIKAAJALISED KOHUSTISED
-----------------------------------------------------------------------------
Tulevaste perioodide tulu liitumistasudelt 40 950 37 727 39 150
Rendikohustised 1 603 1 297 1 607
Laenukohustised 76 716 80 348 76 708
Eraldis võimalike kolmandate osapoolte nõuete
katteks 6 6 018 6 018 6 018
Edasilükkunud tulumaks 523 402 496
Muud võlad 89 68 101
-----------------------------------------------------------------------------
PIKAAJALISED KOHUSTISED KOKKU 125 899 125 860 124 080
-----------------------------------------------------------------------------
KOHUSTISED KOKKU 140 840 139 843 142 567
OMAKAPITAL
-----------------------------------------------------------------------------
Aktsiakapital 12 000 12 000 12 000
Ülekurss 24 734 24 734 24 734
Kohustuslik reservkapital 1 278 1 278 1 278
Jaotamata kasum 76 313 80 287 72 814
-----------------------------------------------------------------------------
OMAKAPITAL KOKKU 114 325 118 299 110 826
-----------------------------------------------------------------------------
KOHUSTISED JA OMAKAPITAL KOKKU 255 165 258 142 253 393
KONSOLIDEERITUD KOONDKASUMIARUANNE
31. detsembril lõppenud
tuhandetes eurodes I kvartal aasta
Lisa 2023 2022 2022
Müügitulu 7 14 599 12 053 54 558
Müüdud toodete/teenuste -8
kulud 9 887 -7 670 -37 660
-------------------------------------------------------------------------------
BRUTOKASUM 5 712 4 383 16 898
Turustuskulud 9 -215 -199 -703
Üldhalduskulud 9 -1 303 -1 131 -4 399
Muud äritulud (+)/-kulud (-) 10 -122 -48 -476
-------------------------------------------------------------------------------
ÄRIKASUM 4 072 3 005 11 320
Intressitulud 11 10 1 8
Intressikulud 11 -555 -97 -682
-------------------------------------------------------------------------------
KASUM ENNE TULUMAKSUSTAMIST 3 527 2 909 10 646
Tulumaks 12 -28 -30 -2 240
PERIOODI PUHASKASUM 3 499 2 879 8 406
-------------------------------------------------------------------------------
PERIOODI KOONDKASUM 3 499 2 879 8 406
Jaotatav kasum:
-------------------------------------------------------------------------------
A- aktsia omanikele 3 499 2 879 8 406
Kasum A aktsia kohta
(eurodes) 13 0,17 0,14 0,42
KONSOLIDEERITUD RAHAVOOGUDE ARUANNE
31. detsembril
tuhandetes eurodes 3 kuud aastal lõppenud aasta
Lisa 2023 2022 2022
ÄRITEGEVUSE RAHAVOOD
-------------------------------------------------------------------------------
Ärikasum 4 072 3 005 11 320
Korrigeerimine kulumiga 4,5,9,10 1 945 1 639 6 817
Korrigeerimine tuludega
liitumistasudest 10 -145 -134 -544
Kasum (-)/kahjum (+)
põhivara müügist ja
mahakandmisest 0 -3 -32
Äritegevusega seotud käibevara muutus 1 191 202 -2 841
Äritegevusega seotud kohustiste muutus -1 357 -811 309
-------------------------------------------------------------------------------
ÄRITEGEVUSE RAHAVOOD KOKKU 5 706 3 898 15 029
INVESTEERIMISTEGEVUSE RAHAVOOD
-------------------------------------------------------------------------------
Põhivara soetamine -5 304 -3 327 -20 701
Torustike ehituse eest saadud
kompensatsioonid, sh
liitumiste rajamistulud 288 665 1 593
Põhivara müügitulu 0 3 53
Saadud intressid 10 1 9
-------------------------------------------------------------------------------
INVESTEERIMISTEGEVUSE RAHAVOOD KOKKU -5 006 -2 658 -19 046
FINANTSEERIMISTEGEVUSE RAHAVOOD
-------------------------------------------------------------------------------
Tasutud intressid ja
laenukulud -258 -117 -616
Tasutud rendimaksed -203 -112 -524
Tasutud laenud 0 0 -3 636
Tasutud dividendid 12 0 0 -12 835
Tasutud kinnipeetud tulumaks
dividendidelt 12 0 0 -165
Tasutud tulumaks dividendidelt 12 0 0 -2 116
-------------------------------------------------------------------------------
FINANTSEERIMISTEGEVUSE RAHAVOOD KOKKU -461 -229 -19 892
-------------------------------------------------------------------------------
RAHA JA RAHA EKVIVALENTIDE MUUTUS 239 1 011 -23 909
-------------------------------------------------------------------------------
RAHA JA RAHA EKVIVALENDID
PERIOODI ALGUSES 3 12 650 36 559 36 559
-------------------------------------------------------------------------------
RAHA JA RAHA EKVIVALENDID
PERIOODI LÕPUS 3 12 889 37 570 12 650
Lisainfo:
Maria Tiidus
Kommunikatsioonijuht
Tallinna Vesi
Tel: 626 2271
E-post: [email protected] (mailto:[email protected])
Content of announcement in English
Title
AS Tallinna Vesi’s financial results for the first quarter of 2023
Message
In the first quarter of 2023, AS Tallinna Vesi earned EUR14.6 million in revenue
and EUR3.50 million in net profit. The level of investments in fixed assets in the
first quarter increased by 68% compared to the previous period, reaching EUR4.7
million.
In 2023, the sales from water services increased by 18.6% in the first quarter
compared to the same period last year.
Sales from water services provided to commercial customers in the main service
area increased by approximately 11% in the first quarter, reaching EUR4.27
million. "Sales in the first quarter increased due to sales price reflecting
increased direct production cost and the increase in water consumption by the
hospitality and leisure establishments in the capital area. The increase in
sales was also influenced by the significant increase in construction volumes,"
said Aleksandr Timofejev, CEO of Tallinna Vesi. Sales from water services
provided to private customers increased by 23.2% in the first quarter compared
to a year ago, reaching EUR6.04 million.
The Company's gross profit for the first quarter was EUR5.71 million, increasing
by EUR1.33 million compared to the same period last year. "The recovery in gross
profit is related to the sales price reflecting the increase in production cost.
Gross profit increased by 30.4% compared to the same period last year,"
Timofejev explained.
The Company's operating profit in the first quarter amounted to EUR4.1 million,
which is EUR1.07 million more compared to the same period last year.
The Company's net profit was EUR3.5 million in the first quarter of 2023, which is
EUR0.62 more than in the same period in 2022.
Compared to the first quarter of 2022, the sales from construction services
provided by the subsidiary Watercom increased by 119.7%, or EUR0.44 million. The
increase in sales is mainly related to the increase in construction volumes in
2023 and the projects carried over from 2022 to 2023.
Tallinna Vesi has increased investments in fixed assets to ensure the
sustainability of its infrastructure and the service continuity. In the first
three months of this year, AS Tallinna Vesi has invested as much as EUR4.7 million
in fixed assets, which is 68% more compared to the same period last year.
The investment plan for the following years is prepared based on the Public
Water Supply and Sewerage Development Plan for the next 12 years, ordered by the
City of Tallinn and prepared by AS Infragate, which can be found as a document
on the website of the City of Tallinn. "Current and future investments will
continue to ensure the high-quality drinking water for the residents of Tallinn
and help to keep the natural environment cleaner, increasing both the average
life span of pipelines and the efficiency of treatment systems by means of
modern technologies and materials. That way, we can ensure the continuity of a
vital service at an affordable price and with the least possible disruption to
residents' daily life," said Timofejev.
AS Tallinna Vesi will gradually switch to remote readable water meters, which
will free customers from the obligation of reporting their water meter readings
every month. The first three thousand customers have already received their new
smart meters and this year, the installation will continue at an accelerated
pace. The plan is to cover the entire service area of AS Tallinna Vesi with
remote water meters by 2026.
As an important project, the installation of a new pump was completed in the
main wastewater pumping station at the Wastewater Treatment Plant at
Paljassaare. Projects currently in progress include the installation of a valve
between the suction basins at the main wastewater pumping station,
reconstruction of digesters, installation of a cogeneration plant and
reconstruction of aeration tanks, additional screens for the main wastewater
pumping station, reconstruction of screens at the wastewater treatment plant and
reconstruction of secondary clarifiers.
Additionally, AS Tallinna Vesi has started studies to identify the potential for
heat recovery from the air of air blowers and is participating in a research
project funded by Interreg on the application of various technologies to remove
PFASs from wastewater. The Company is also involved in another Interreg project,
aiming to test new technologies for removing APIs from wastewater.
Main financial indicators
1st quarter
EUR million,
except key ratios 2023 2022 2021 Change 2023/ 2022
-------------------------------------------------------------------------------
Sales 14.60 12.05 11.78 21.1%
Gross profit 5.71 4.38 5.18 30.4%
Gross profit margin % 39.13 36.36 43.97 7.6%
Operating profit before depreciation and
amortisation 6.02 4.64 6.23 29.6%
Operating profit before depreciation and
amortisation margin % 41.22 38.53 52.83 7.0%
Operating profit 4.07 3.00 4.66 35.6%
Operating profit - main business 3.91 2.92 4.50 34.2%
Operating profit margin % 27.89 24.92 39.55 11.9%
Profit before taxes 3.53 2.91 4.57 21.3%
Profit before taxes margin % 24.16 24.13 38.78 0.1%
Net profit 3.50 2.88 4.55 21.6%
Net profit margin % 23.97 23.88 38.59 0.4%
ROA % 1.38 1.12 2.09 23.0%
Debt to total capital employed % 55.19 54.17 54.83 1.9%
ROE % 3.11 2.46 4.70 26.2%
Current ratio 1.46 3.20 4.48 -54.4%
Quick ratio 1.38 3.13 4.42 -55.9%
Investments into fixed assets 4.67 2.78 2.28 68.0%
Payout ratio % na na na
-------------------------------------------------------------------------------
Gross profit margin - Gross profit / Net sales
Operating profit before depreciation and amortisation - Operating profit +
depreciation and amortisation
Operating profit before depreciation and amortisation margin - Operating profit
before depreciation and amortisation / Net sales
Operating profit margin - Operating profit / Net sales
Net profit margin - Net profit / Net sales
ROA - Net profit / Average Total assets for the period
Debt to Total capital employed - Total liabilities / Total capital employed
ROE - Net profit / Average Total equity for the period
Current ratio - Current assets / Current liabilities
Quick ratio - (Current assets - Stocks) / Current liabilities
Payout ratio - Total Dividends per annum/ Total Net Income per annum
Main business - water services related activities, excl. connections profit and
government grants, construction services, doubtful receivables
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
as as of 31
EUR thousand of 31 March December
ASSETS Note 2023 2022 2022
CURRENT ASSETS
-------------------------------------------------------------------------------
Cash and cash
equivalents 3 12,889 37,570 12,650
Trade receivables, accrued
income and prepaid expenses 7,679 6,228 8,989
Inventories 1,319 922 1,197
-------------------------------------------------------------------------------
TOTAL CURRENT ASSETS 21,887 44,720 22,836
NON-CURRENT ASSETS
-------------------------------------------------------------------------------
Property, plant, and
equipment 4 232,513 212,732 229,869
Intangible
assets 5 765 690 688
-------------------------------------------------------------------------------
TOTAL NON-CURRENT ASSETS 233,278 213,422 230,557
-------------------------------------------------------------------------------
TOTAL ASSETS 255,165 258,142 253,393
LIABILITIES AND EQUITY
CURRENT LIABILITIES
-------------------------------------------------------------------------------
Leases 963 464 883
Loans 3,630 3,630 3,630
Trade and other
payables 7,752 6,587 10,225
Prepayments 2,596 3,302 3,749
-------------------------------------------------------------------------------
TOTAL CURRENT LIABILITIES 14,941 13,983 18,487
NON-CURRENT LIABILITIES
-------------------------------------------------------------------------------
Deferred income from
connection fees 40,950 37,727 39,150
Leases 1,60 1,297 1,607
Loans 76,716 80,348 76,708
Provision for possible
third-party claims 6 6,018 6,018 6,018
Deferred tax
liability 523 402 496
Other payables 89 68 101
-------------------------------------------------------------------------------
TOTAL NON-CURRENT
LIABILITIES 125,899 125,860 124,080
-------------------------------------------------------------------------------
TOTAL LIABILITIES 140,840 139,843 142,567
EQUITY
-------------------------------------------------------------------------------
Share capital 12,000 12,000 12,000
Share premium 24,734 24,734 24,734
Statutory legal reserve 1,278 1,278 1,278
Retained
earnings 76,313 80,287 72,814
-------------------------------------------------------------------------------
TOTAL EQUITY 114,325 118,299 110,826
-------------------------------------------------------------------------------
TOTAL LIABILITIES AND
EQUITY 255,165 258,142 253,393
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
for the year
Quarter ended 31
EUR thousand 1 December
Note 2023 2022 2022
Revenue 7 14,599 12,053 54,558
Cost of goods and
services sold 9 -8,887 -7,670 -37,660
-------------------------------------------------------------------------------
GROSS PROFIT 5,712 4,383 16,898
Marketing expenses 9 -215 -199 -703
General administration
expenses 9 -1,303 -1,131 -4,399
Other income (+)/
expenses (-) 10 -122 -48 -476
-------------------------------------------------------------------------------
OPERATING PROFIT 4,072 3,005 11,320
Financial income 11 10 1 8
Financial expenses 11 -555 -97 -682
-------------------------------------------------------------------------------
PROFIT BEFORE TAXES 3,527 2,909 10,646
Income tax 12 -28 -30 -2,240
NET PROFIT FOR THE PERIOD 3,499 2,879 8,406
-------------------------------------------------------------------------------
COMPREHENSIVE INCOME FOR THE
PERIOD 3,499 2,879 8,406
Attributable profit to:
-------------------------------------------------------------------------------
Equity holders of
A-shares 3,499 2,879 8,406
Earnings per A-share
(in euros) 13 0,17 0,14 0,42
CONSOLIDATED STATEMENT OF CASH FLOWS
for the
3 year ended
EUR thousand months 31 December
Note 2023 2022 2022
CASH FLOWS FROM OPERATING
ACTIVITIES
-------------------------------------------------------------------------------
Operating profit 4,072 3,005 11,320
Adjustment for
depreciation/amortisation 4,5,9,10 1,945 1,639 6,817
Adjustment for revenues from
connection fees 10 -145 -134 -544
Profit (-)/loss (+) from sale
of property, plant and
equipment, and intangible
assets 0 -3 -32
Change in current assets involved in
operating activities 1,191 202 -2,841
Change in liabilities involved
in operating activities -1,357 -811 309
-------------------------------------------------------------------------------
TOTAL CASH FLOWS FROM OPERATING ACTIVITIES 5,706 3,898 15,029
CASH FLOWS USED IN INVESTING
ACTIVITIES
-------------------------------------------------------------------------------
Acquisition of property, plant,
and equipment, and
intangible assets -5,304 -3,327 -20,701
Compensations received for
construction of pipelines, incl
connection fees 288 665 1,593
Proceeds from sale of property, plant
and equipment, and intangible assets 0 3 53
Interest received 10 1 9
-------------------------------------------------------------------------------
TOTAL CASH FLOWS USED IN INVESTING
ACTIVITIES -5,006 -2,658 -19,046
CASH FLOWS USED IN FINANCING
ACTIVITIES
-------------------------------------------------------------------------------
Interest paid and loan financing costs,
incl swap interests -258 -117 -616
Lease payments -203 -112 -524
Repayment of loans 0 0 -3,636
Dividends paid 12 0 0 -12,835
Withheld income tax paid on
dividends 12 0 0 -165
Income tax paid on dividends 12 0 0 -2,116
-------------------------------------------------------------------------------
TOTAL CASH FLOWS USED IN FINANCING
ACTIVITIES -461 -229 -19,892
-------------------------------------------------------------------------------
CHANGE IN CASH AND CASH
EQUIVALENTS 239 1,011 -23,909
-------------------------------------------------------------------------------
CASH AND CASH EQUIVALENTS AT THE
BEGINNING OF THE PERIOD 3 12,650 36,559 36,559
-------------------------------------------------------------------------------
CASH AND CASH EQUIVALENTS AT THE
END
OF THE PERIOD 3 12,889 37,570 12,650
More information:
Maria Tiidus
Head of Communications
Tallinna Vesi
Ph: 626 2271
E-mail: [email protected] (mailto:[email protected])