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
8528
Attachments
Submission date and time
29.01.2021 09:00:00
Content of announcement in Estonian
Title
ASi Tallinna Vesi 2020. aasta neljanda kvartali finantstulemused
Message
ASi Tallinna Vesi 2020. aasta neljanda kvartali müügitulu oli 13,17 miljonit
eurot, kahanedes 2019. aasta sama perioodiga võrreldes 18,3%. Muutuse on
põhjustanud uued madalamad tariifid ja koroonapiirangute tõttu vähenenud
äriklientide tarbimine.
Põhitegevuspiirkonna eraklientide müügitulu vähenes 15,2% võrra, ulatudes 5,13
miljoni euroni. Muutuse põhjustas eelkõige juba 2019. aasta lõpust rakendunud
madalam tariif. Tariifilanguse mõju tasakaalustas teatud määral korteriühistute
ehk ettevõtte suurima eraklientide segmendi tarbimise kasv. See tulenes
koroonaviiruse mõjust, mis tõi kaasa kaugtöö osakaalu kasvu ja suurendas
kodumajapidamiste tarbimist.
Põhitegevuspiirkonna äriklientide müügitulu vähenes 25,7% võrra 3,81 miljoni
euroni, mis tulenes madalamatest tariifidest ja veeteenuste tarbimise
vähenemisest 16,9% võrra. Kõige rohkem on pandeemia mõjutanud majutus- ja
vabaajaasutusi.
2020. aasta neljanda kvartali brutokasum oli 5,64 miljonit eurot, see näitab
29,4%-list kahanemist, mis on seotud vähenenud müügituluga. Ettevõtte ärikasum
oli 5,76 miljonit eurot, mis on 5,31 miljonit eurot vähem kui aasta tagasi.
Ärikasumit mõjutasid eelkõige madalam tariif ja tarbimismahtude kahanemisest
tingitud müügitulu vähenemine.
Ettevõtte puhaskasum oli 2020. aasta neljandas kvartalis 5,39 miljonit eurot,
mis on 5,56 miljoni võrra vähem kui 2019. aasta samal perioodil. Muutus
puhaskasumis tulenes peamiselt ärikasumi vähenemisest. Lisaks vähendas
puhaskasumit edasilükkunud tulumaksukulu, samal ajal kui positiivset mõju
avaldasid madalamad intressikulud.
Koroonaviirus mõjutas ka ehitusteenuste müüki: mitmed projektid Tallinnas on
lükatud edasi, mistõttu vähenes vajadus ka vee- ja kanalisatsioonivõrgu
liitumispunktide väljaehitamise järele. Samal ajal jätkas tütarettevõte Watercom
neljandas kvartalis 2019. aastal võidetud suurte projektide ehitust Tallinnas ja
teistes Eesti piirkondades. Ehitusteenuste müügitulu oli neljandas kvartalis
1,31 miljonit eurot, mis tähendab eelmise aasta sama perioodiga võrreldes 31,1%-
list vähenemist. Tulude kahanemine oli eelkõige seotud vähenenud tuludega
torustike ehitusteenusest, mida osaliselt tasakaalustas tee-ehitusteenuste
osutamisest saadud tulude suurenemine.
AS Tallinna Vesi omandas 28.01.2021 Eesti Vabariigis 100%-lise osaluse
ettevõtjas ärinimega ASTV Green Energy OÜ. Ettevõtte põhitegevusala on
gaasitootmine. Tegemist on alustava ettevõttega ning aktiivset majandustegevust
ei ole toimunud.
PÕHILISED FINANTSNÄITAJAD
4. kvartal 12 kuud
miljonites eurodes Muutus Muutus
v.a suhtarvud 2020 2019 2018 2020/ 2019 2020 2019 2018 2020/ 2019
-------------------------------------------------------------------------------------
Müügitulu 13,17 16,12 16,23 -18,3% 51,72 63,42 62,78 -18,5%
Brutokasum 5,64 7,98 8,38 -29,4% 22,23 33,95 34,19 -34,5%
Brutokasumi
marginaal % 42,78 49,49 51,61 -13,6% 42,97 53,53 54,45 -19,7%
Amortisatsioonieelne
ärikasum 7,41 12,72 6,82 -41,7% 28,07 38,18 32,73 -26,5%
Amortisatsioonieelse
ärikasumi marginaal
% 56,23 78,86 42,01 -28,7% 54,27 60,21 52,13 -9,9%
Ärikasum 5,76 11,06 5,29 -48,0% 21,78 32,08 26,94 -32,1%
Ärikasum -
põhitegevus 5,51 10,82 5,07 -49,1% 20,88 31,19 26,22 -33,0%
Ärikasumi marginaal
% 43,71 68,61 32,61 -36,3% 42,12 50,57 42,91 -16,7%
Kasum enne
tulumaksustamist 5,64 10,95 5,01 -48,5% 21,34 31,30 25,95 -31,8%
Maksustamiseelse
kasumi marginaal % 42,85 67,93 30,88 -36,9% 41,27 49,36 41,33 -16,4%
Puhaskasum 5,39 10,95 5,01 -50,8% 16,73 27,76 24,15 -39,7%
Puhaskasumi
marginaal % 40,91 67,93 30,88 -39,8% 32,35 43,77 38,47 -26,1%
Vara puhasrentaablus
% 2,12 4,21 2,03 -49,7% 6,45 10,83 10,10 -40,4%
Kohustiste
osatähtsus
koguvarast % 56,09 56,05 58,85 0,1% 56,09 56,05 58,85 0,1%
Omakapitali
puhasrentaablus % 4,92 9,95 5,00 -50,6% 14,69 25,43 25,61 -42,2%
Lühiajaliste
kohustiste
kattekordaja 3,85 5,48 5,36 -2,2% 3,85 5,48 5,36 -29,7%
Maksevõime kordaja 3,80 5,44 5,33 -2,0% 3,80 5,44 5,33 -30,1%
Investeeringud
põhivarasse 5,65 5,33 3,04 6,0% 19,42 16,09 10,40 20,7%
Dividendide
väljamaksmise määr % na 72,05 62,11 na 72,05 62,11
-------------------------------------------------------------------------------------
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
KOONDKASUMIARUANNE IV kvartal IV kvartal 12 kuud 12 kuud 12 kuud
tuhandetes eurodes 2020 2019 2020 2019 2019
Müügitulu 13 172 16 122 51 717 63 423 63 423
Müüdud toodete/teenuste
kulud -7 537 -8 143 -29 491 -29 470 -29 470
-------------------------------------------------------------------------------
BRUTOKASUM 5 635 7 979 22 226 33 953 33 953
Turustuskulud -113 -93 -433 -390 -390
Üldhalduskulud -945 -1 281 -4 576 -5 689 -5 689
Muud äritulud(+)/-kulud (-) 1 180 4 457 4 567 4 201 4 201
-------------------------------------------------------------------------------
ÄRIKASUM 5 757 11 062 21 784 32 075 32 075
Intressitulud 3 8 31 38 38
Intressikulud -116 -118 -473 -809 -809
Muud finantstulud (+)/
-kulud (-)
-------------------------------------------------------------------------------
KASUM ENNE TULUMAKSUSTAMIST 5 644 10 952 21 342 31 304 31 304
Dividendide tulumaks -255 0 -4 610 -3 544 -3 544
PERIOODI PUHASKASUM 5 389 10 952 16 732 27 760 27 760
-------------------------------------------------------------------------------
PERIOODI KOONDKASUM 5 389 10 952 16 732 27 760 27 760
Jaotatav kasum:
-------------------------------------------------------------------------------
A- aktsia omanikele 5 388 10 951 16 731 27 759 27 759
B- aktsia omanikule 0,60 0,60 0,60 0,60 0,60
0,00 0,00 0,00 0,00 0,00
Kasum A aktsia kohta
(eurodes) 0,27 0,55 0,84 1,39 1,39
Kasum B aktsia kohta
(eurodes) 600 600 600 600 600
FINANTSSEISUNDI ARUANNE
tuhandetes eurodes 31.12.2020 31.12.2019 31.12.2019
VARAD
KÄIBEVARA
-------------------------------------------------------------------------------
Raha ja raha ekvivalendid 44 514 64 775 64 775
Nõuded ostjate vastu, viitlaekumised ja
ettemaksed 7 019 7 239 7 239
Varud 701 504 504
-------------------------------------------------------------------------------
KÄIBEVARA KOKKU 52 234 72 518 72 518
PÕHIVARA
-------------------------------------------------------------------------------
Materiaalne põhivara 202 802 189 627 189 627
Immateriaalne põhivara 629 710 710
-------------------------------------------------------------------------------
PÕHIVARA KOKKU 203 431 190 337 190 337
-------------------------------------------------------------------------------
VARAD KOKKU 255 665 262 855 262 855
KOHUSTISED JA OMAKAPITAL
LÜHIAJALISED KOHUSTISED
-------------------------------------------------------------------------------
Pikaajaliste rendikohustiste lühiajaline
osa 393 352 352
Pikaajaliste laenukohustiste lühiajaline
osa 3 630 3 631 3 631
Võlad hankijatele ja muud võlad 7 084 6 717 6 718
Tuletisinstrumendid 0 221 221
Ettemaksed 2 445 2 323 2 323
-------------------------------------------------------------------------------
LÜHIAJALISED KOHUSTISED KOKKU 13 552 13 244 13 245
PIKAAJALISED KOHUSTISED
-------------------------------------------------------------------------------
Tulevaste perioodide tulu liitumistasudelt 34 564 31 070 31 070
Rendikohustised 1 400 964 964
Laenukohustised 83 978 87 592 87 592
Eraldis võimalike kolmandate osapoolte
nõuete katteks 9 628 14 442 0
Edasilükkunud tulumaks 255 0 14 442
Muud võlad 32 18 18
-------------------------------------------------------------------------------
PIKAAJALISED KOHUSTISED KOKKU 129 857 134 086 134 086
-------------------------------------------------------------------------------
KOHUSTISED KOKKU 143 409 147 330 147 331
OMAKAPITAL
-------------------------------------------------------------------------------
Aktsiakapital 12 000 12 000 12 000
Ülekurss 24 734 24 734 24 734
Kohustuslik reservkapital 1 279 1 279 1 278
Jaotamata kasum 74 243 77 512 77 512
-------------------------------------------------------------------------------
OMAKAPITAL KOKKU 112 256 115 525 115 524
-------------------------------------------------------------------------------
KOHUSTISED JA OMAKAPITAL KOKKU 255 665 262 855 262 855
RAHAVOOGUDE ARUANNE 12 kuud 12 kuud 12 kuud
tuhandetes eurodes 2020 2019 2019
ÄRITEGEVUSE RAHAVOOD
-------------------------------------------------------------------------------
Ärikasum 21 784 32 075 32 075
Korrigeerimine kulumiga 6 283 6 109 6 109
Korrigeerimine rajamistuludega -542 -389 -389
Muud mitterahalised korrigeerimised -4 814 -4 624 -4 624
Kasum (-)/kahjum (+) põhivara müügist ja
mahakandmisest -14 138 138
Äritegevusega seotud käibevara muutus 140 391 391
Äritegevusega seotud kohustiste muutus -215 318 318
-------------------------------------------------------------------------------
ÄRITEGEVUSE RAHAVOOD KOKKU 22 622 34 018 34 018
INVESTEERIMISTEGEVUSE RAHAVOOD
-------------------------------------------------------------------------------
Põhivara soetamine -15 682 -10 441 -10 441
Torustike ehituse eest saadud
kompensatsioonid, sh liitumiste
rajamistulud 1 998 3 010 3 010
Põhivara müügitulu 32 24 24
Saadud intressid 35 36 36
-------------------------------------------------------------------------------
INVESTEERIMISTEGEVUSE RAHAVOOD KOKKU -13 617 -7 371 -7 371
FINANTSEERIMISTEGEVUSE RAHAVOOD
-------------------------------------------------------------------------------
Tasutud intressid ja laenu finantseerimise
kulud, sh swapi intressid -719 -1 056 -1 056
Tasutud rendimaksed -555 -404 -404
Saadud laenud 0 37 500 37 500
Tasutud laenud -3 636 -41 136 -41 136
Tasutud dividendid -19 888 -14 965 -14 965
Tasutud kinnipeetud tulumaks dividendidelt -113 -36 -36
Tasutud tulumaks dividendidelt -4 355 -3 544 -3 544
-------------------------------------------------------------------------------
FINANTSEERIMISTEGEVUSE RAHAVOOD KOKKU -29 266 -23 641 -23 641
-------------------------------------------------------------------------------
RAHA JA RAHA EKVIVALENTIDE MUUTUS -20 261 3 006 3 006
-------------------------------------------------------------------------------
RAHA JA RAHA EKVIVALENDID PERIOODI ALGUSES 64 775 61 769 61 769
-------------------------------------------------------------------------------
RAHA JA RAHA EKVIVALENDID PERIOODI LÕPUS 44 514 64 775 64 775
Karl Heino Brookes
Juhatuse esimees
+372 62 62 200
[email protected]
(https://www.globenewswire.com/Tracker?data=RDltCNKLB6BM0IWug7OuJOdbcaKy02f-
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Content of announcement in English
Title
AS Tallinna Vesi´s financial results for the 4th quarter of 2020
Message
AS Tallinna Vesi's sales revenue for the fourth quarter of 2020 were EUR13.17 million, showing a decrease of 18.3% compared to the same period last year. This was a result of reduced tariffs and lower commercial consumption, linked to the coronavirus outbreak. Sales to private customers in the main service area decreased by 15.2% to EUR5.13 million, mainly resulting from the reductions in tariffs, that became effective already at the end of 2019. The impact of reduced tariffs was partly balanced by higher consumption of apartment blocks, which is the largest private customer segment of the Company. Again, this was linked to the coronavirus, and more people working from home, therefore increasing consumption. In the main service area, the sales revenue from commercial customers dropped by 25.7% to EUR3.81 million, which was a consequence of lower tariffs, as well as 16.9% lower consumption by businesses. The hospitality sector has seen the greatest impact from the pandemic. The gross profit for the 4(th) quarter of 2020 was EUR5.64 million, showing a reduction of 29.4%, which is attributable to the lower sales revenue. The operating profit was EUR5.76 million, which is a reduction of EUR5.31 compared to the previous year. The main factors impacting the operating profit were reduced tariffs and lower sales revenues connected to a decline in consumption. The net profit for the 4th quarter of 2020 was EUR5.39 million, showing a decrease of EUR5.56 million compared to the same period of 2019. The decline in the net profit, was predominantly a consequence of lower operating profits. Deferred tax also contributed to the decrease in net profit, whilst lower interest costs had a positive impact on profitability. Coronavirus also had an impact on the construction sector in Tallinn, with many projects being postponed, causing a downturn in water and wastewater connections activity. In the 4th quarter, our subsidiary Watercom continued to work on the major projects secured in 2019, both in Tallinn and across Estonia. The sales revenue from constructions services for the 4(th) quarter was EUR1.31 million, indicating a 31.1% decline compared to the same period of 2019. The decrease in revenue was largely due to the lower revenue from pipe construction services, which were partly balanced by higher revenues from road construction services. On 28 January 2021, AS Tallinna Vesi acquired a full shareholding in the company with the business name ASTV Green Energy OÜ in the Republic of Estonia. The main business activity of the company is initially gas production. The company is a start-up and no active economic activity has been conducted. MAIN FINANCIAL INDICATORS EUR million, 4(th) quarter 12 months except key Change Change ratios 2020 2019 2018 2020/ 2019 2020 2019 2018 2020/ 2019 ------------------------------------------------------------------------------- Sales 13.17 16.12 16.23 -18.3% 51.72 63.42 62.78 -18.5% Gross profit 5.64 7.98 8.38 -29.4% 22.23 33.95 34.19 -34.5% Gross profit margin % 42.78 49.49 51.61 -13.6% 42.97 53.53 54.45 -19.7% Operating profit before depreciation and amortisation 7.41 12.72 6.82 -41.7% 28.07 38.18 32.73 -26.5% Operating profit before depreciation and amortisation margin % 56.23 78.86 42.01 -28.7% 54.27 60.21 52.13 -9.9% Operating profit 5.76 11.06 5.29 -48.0% 21.78 32.08 26.94 -32.1% Operating profit - main business 5.51 10.82 5.07 -49.1% 20.88 31.19 26.22 -33.0% Operating profit margin % 43.71 68.61 32.61 -36.3% 42.12 50.57 42.91 -16.7% Profit before taxes 5.64 10.95 5.01 -48.5% 21.34 31.30 25.95 -31.8% Profit before taxes margin % 42.85 67.93 30.88 -36.9% 41.27 49.36 41.33 -16.4% Net profit 5.39 10.95 5.01 -50.8% 16.73 27.76 24.15 -39.7% Net profit margin % 40.91 67.93 30.88 -39.8% 32.35 43.77 38.47 -26.1% ROA % 2.12 4.21 2.03 -49.7% 6.45 10.83 10.10 -40.4% Debt to total capital employed % 56.09 56.05 58.85 0.1% 56.09 56.05 58.85 0.1% ROE % 4.92 9.95 5.00 -50.6% 14.69 25.43 25.61 -42.2% Current ratio 3.85 5.48 5.36 -2.2% 3.85 5.48 5.36 -29.7% Quick ratio 3.80 5.44 5.33 -2.0% 3.80 5.44 5.33 -30.1% Investments into fixed assets 5.65 5.33 3.04 6.0% 19.42 16.09 10.40 20.7% Payout ratio % na 72.05 62.11 na 72.05 62.11 ------------------------------------------------------------------------------- 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 debt STATEMENT OF COMPREHENSIVE INCOME 4th quarter 4th quarter 12 months 12 months 12 months EUR thousand 2020 2019 2020 2019 2019 Revenue 13,172 16,122 51,717 63,423 63,423 Cost of goods and services sold -7,537 -8,143 -29,491 -29,470 -29,470 ------------------------------------------------------------------------------- GROSS PROFIT 5,635 7,979 22,226 33,953 33,953 Marketing expenses -113 -93 -433 -390 -390 General administration expenses -945 -1,281 -4,576 -5,689 -5,689 Other income (+)/ expenses (-) 1,180 4,457 4,567 4,201 4,201 ------------------------------------------------------------------------------- OPERATING PROFIT 5,757 11,062 21,784 32,075 32,075 Financial income 3 8 31 38 38 Financial expenses -116 -118 -473 -809 -809 Other financial income (+)/ expenses (-) 0 0 0 0 0 ------------------------------------------------------------------------------- PROFIT BEFORE TAXES 5,644 10,952 21,342 31,304 31,304 Income tax on dividends -255 0 -4,610 -3,544 -3,544 NET PROFIT FOR THE PERIOD 5,389 10,952 16,732 27,760 27,760 ------------------------------------------------------------------------------- COMPREHENSIVE INCOME FOR THE PERIOD 5,389 10,952 16,732 27,760 27,760 Attributable profit to: ------------------------------------------------------------------------------- Equity holders of A- shares 5,388 10,951 16,731 27,759 27,759 B-share holder 0.60 0.60 0.60 0.60 0.60 Earnings per A share (in euros) 0.27 0.55 0.84 1.39 1.39 Earnings per B share (in euros) 600 600 600 600 600 STATEMENT OF FINANCIAL POSITION EUR thousand 31/12/2020 31/12/2019 31/12/2019 ASSETS CURRENT ASSETS ------------------------------------------------------------------------------- Cash and cash equivalents 44,514 64,775 64,775 Trade receivables, accrued income and prepaid expenses 7,019 7,239 7,239 Inventories 701 504 504 ------------------------------------------------------------------------------- TOTAL CURRENT ASSETS 52,234 72,518 72,518 NON-CURRENT ASSETS ------------------------------------------------------------------------------- Property, plant and equipment 202,802 189,627 189,627 Intangible assets 629 710 710 ------------------------------------------------------------------------------- TOTAL NON-CURRENT ASSETS 203,431 190,337 190,337 ------------------------------------------------------------------------------- TOTAL ASSETS 255,665 262,855 262,855 LIABILITIES AND EQUITY CURRENT LIABILITIES ------------------------------------------------------------------------------- Current portion of long-term lease liabilities 393 352 352 Current portion of long-term loans 3,630 3,631 3,631 Trade and other payables 7,084 6,717 6,718 Derivatives 0 221 221 Prepayments 2,445 2,323 2,323 ------------------------------------------------------------------------------- TOTAL CURRENT LIABILITIES 13,552 13,244 13,245 NON-CURRENT LIABILITIES ------------------------------------------------------------------------------- Deferred income from connection fees 34,564 31,070 31,070 Leases 1,400 964 964 Loans 83,978 87,592 87,592 Provision for possible third party claims 9,628 14,442 0 Deferred tax liability 255 0 14,442 Other payables 32 18 18 ------------------------------------------------------------------------------- TOTAL NON-CURRENT LIABILITIES 129,857 134,086 134,086 ------------------------------------------------------------------------------- TOTAL LIABILITIES 143,409 147,330 147,331 EQUITY ------------------------------------------------------------------------------- Share capital 12,000 12,000 12,000 Share premium 24,734 24,734 24,734 Statutory legal reserve 1,279 1,279 1,278 Retained earnings 74,243 77,512 77,512 ------------------------------------------------------------------------------- TOTAL EQUITY 112,256 115,525 115,524 ------------------------------------------------------------------------------- TOTAL LIABILITIES AND EQUITY 255,665 262,855 262,855 CASH FLOWS STATEMENT 12 months 12 months 12 months EUR thousand 2020 2019 2019 CASH FLOWS FROM OPERATING ACTIVITIES ------------------------------------------------------------------------------- Operating profit 21,784 32,075 32,075 Adjustment for depreciation/amortisation 6,283 6,109 6,109 Adjustment for revenues from connection fees -542 -389 -389 Other non-cash adjustments -4,814 -4,624 -4,624 Profit/loss(+) from sale and write off of property, plant and equipment, and intangible assets -14 138 138 Change in current assets involved in operating activities 140 391 391 Change in liabilities involved in operating activities -215 318 318 ------------------------------------------------------------------------------- TOTAL CASH FLOWS FROM OPERATING ACTIVITIES 22,622 34,018 34,018 CASH FLOWS USED IN INVESTING ACTIVITIES ------------------------------------------------------------------------------- Acquisition of property, plant and equipment, and intangible assets -15,682 -10,441 -10,441 Compensations received for construction of pipelines, incl connection fees 1,998 3,010 3,010 Proceeds from sales of property, plant and equipment and intangible assets 32 24 24 Interest received 35 36 36 ------------------------------------------------------------------------------- TOTAL CASH FLOWS USED IN INVESTING ACTIVITIES -13,617 -7,371 -7,371 CASH FLOWS USE D IN FINANCING ACTIVITIES ------------------------------------------------------------------------------- Interest paid and loan financing costs, incl swap interests -719 -1,056 -1,056 Lease payments -555 -404 -404 Received loans 0 37,500 37,500 Repayment of loans -3,636 -41,136 -41,136 Dividends paid -19,888 -14,965 -14,965 Withheld income tax paid on dividends -113 -36 -36 Income tax paid on dividends -4,355 -3,544 -3,544 ------------------------------------------------------------------------------- TOTAL CASH FLOW USED IN FINANCING ACTIVITIES -29,266 -23,641 -23,641 ------------------------------------------------------------------------------- CHANGE IN CASH AND CASH EQUIVALENTS -20,261 3,006 3,006 ------------------------------------------------------------------------------- CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD 64,775 61,769 61,769 ------------------------------------------------------------------------------- CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD 44,514 64,775 64,775 Karl Heino Brookes Chairman of the Management Board +372 62 62 200 [email protected] (https://www.globenewswire.com/Tracker?data=RDltCNKLB6BM0IWug7OuJOdbcaKy02f- Zwx6t1T3iNIh6_Dbh6NkPufsCxPLL562FWwoqUEWR8UvqbHaDIDasGYc7s3kJWkMW- npP4wDIQatcUMg6eZfMIjidsf_SiMtrD1qnanXsn4mGNPVZXfn95OsZFsAB49lrFsxr3qGiepGSufcra v0-Keg7QzDozz7u5jSzksN7LwN6clZ3CCVayrJVqU59Aw55Fv9ZyTcAscE0XmikBQslm0MY- F3Kito6oQbJUdrUhwhckOzPceShQ==)