Observer Eesti Oü

WEEK 15th 2003

Friday 11th of April, 2003

Alcohol market to grow
The conclusions of the first quarter show that the percentage of vodka in alcohol sale increases and the market leader in Estonia is a vodka manufacturer Liviko. Compared to the same period last year, the sale of vodka increased by 8.8%, the sale of alcohol by 6%. The percentage of contraband vodka has decreased.
(Äripäev, Sirje Niitra)

Booming construction guaranteed a successful year
The vigorous increase of Estonian construction market guaranteed the success of construction material manufacturers. Most of which increased sales and profit last year. ES Sadolin earned the greatest profit. The profit of the company in 2002 was EEK 112 million, sales reached EEK 670 million. ES Sadolin is Estonia's greatest paint manufacturer, who seizes about 35% of Estonian paint market.
(Äripäev Gea, Velthut-Sokka)

Thursday 10th of April, 2003

EU prognosticates fastest economic growth to Baltic States
According to the spring prognosis of European Committee, economic growth in Baltic States will be greater than the average growth of the ten EU candidate states. According to the report, Latvian GDP will increase in 2003 by 6%, Estonian by 5.1% and Lithuanian a little under 5%. The average prognosticated economic growth in candidate states is 3.1% for the year 2003.
(Äripäev, Sirje Ran)

Estonia rose to the 26th position in the ranking of competitiveness
Estonia increased in the new international growth competition index of World Economic Forum by three points to the 26th place, being the most successful Baltic country. Lithuania is on the 36th position and Latvia on the 44th. The most competitive country in the world is USA, which pushed Finland, the most competitive country in the year 2001, to the second place.

Wednesday 9th of April, 2003

Profit of E-Betoonelement EEK 12 million
Last year, sales of E-Betoonelement was EEK 227 million. Profit on the concrete company was EEK 12 million. According to Jaan Valbet, the executive director of E-Betoonelement, the increase of turnover was due to the demand of Latvian construction sector. Export to Latvia exceeded export in 2001 by more than twice. Valbet added that there has been a sudden increase of dwelling construction in Estonia. The increase should continue in the same tempo.

Kunda Nordic Cement increased both sales and profit
Sales of AS Kunda Nordic Cement in 2002 was EEK 455.3 million, which exceeds the results of 2001 by EEK 21.4 million. Profit of the company was EEK 73.9 million. 54% of the production was the percentage of export.

Estonian economy like Greenspan's dream
Estonian economy in the end of the year 2002 and in the beginning of 2003 has been like a dream of Alan Greenspan, the head of US Federal Reserve, of an ideal economic model – fast economic growth with low inflation and low unemployment. In March, consumer price index was already for the second month in a row at the lowest level of all time – 2.4%. Gross domestic product in 2002 was EEK 106.5 billion, which is 5.8% greater than in 2001. The Bank of Estonia predicts the average inflation of 2003 to be 3.3%. The inflation should increase the pace of economic growth.
(Äripäev,Tõnis Oja)

Tuesday 8th of April, 2003

Profit of the Port of Tallinn increased by 8%
Last year, the Port of Tallinn increased its profit by 8%, reaching up to EEK 433.57 million. The company's turnover increased by 7.2% up to EEK 959 billion. Last year, 37.9 million tons of cargo went through the ports that belong to the Port of Tallinn. The amount is 17.1% more than in 2001.

EEK 62 million of turnover in 13 seconds
Yesterday, Hansapank shares in the value of EEK 62.4 million exchanged owners in 13 seconds at the stock exchange. The major turnover of Hansapank share raised the stock exchange's daily turnover up to EEK 69.2 million. Hansapank share closed close to EEK 250. The share increased by 0.44% up to EEK 249.88.
(Äripäev, Romet Kreek)

Monday 7th of April, 2003

Estonian Railway conveyed goods in record amount
In March, the amount of goods conveyed by Estonian Railway reached up to EEK 3.89 million tons. The amount exceeds last year's March by 6.3%. Goods that increased the amount the most were oil shale, coal and grain.

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