Observer Eesti Oü
WEEK 10th 2004

Monday, 1st of March, 2004

Estonian foreign trade deficit fell in January month-on-month
According to Estonian Customs Board, Estonian foreign trade deficit was EEK 1.798 billion in January 2004. This represents a significant decrease from December 2003 when the foreign trade deficit amounted to EEK 4.3 billion.

Lively trading on Estonian real estate market continued in 2003
In 2003 the proportion of notarised purchase-sale contracts increased 16 percent compared to 2002, reported Statistics Estonia. In 2003, a total of 46,972 purchase-sale contracts of real estate and movable assets and contracts of building rights were notarised.

Tuesday, 2nd of March, 2004

Number of Tallinn’s airport passengers increased
In February of this year, 61,577 passengers passed through the Tallinn’s airport. This is 30 percent more than during respective period last year.
Number of flight operations in February was 1705.

Saaremaa shipping company served 65,500 passengers in February
In February, Saaremaa Laevakompanii (Saaremaa shipping company) served 65,528 passengers and 25,795 vehicles. This is more than in February last year.

Kaubamaja: increase of trade areas to influence market development
According to the current prognosis of Tallinna Kaubamaja, forceful growth of sales areas that reaches up to 16 percent has continuous influence on the retail trade. According to Raul Puusepp, CEO of Tallinna Kaubamaja, the number of supermarkets and convenience stores will increase, as consumers expect more personal environments. Retail vendors are more and more interested in country towns. In June, Selver expands to Kuressaare. Still, most important events of the year at the retail market are openings of Viru Centre and Ülemiste Centre, noted Puusepp.
Last year, Tallinna Kaubamaja earned EEK 66 million of net profit by the turnover of EEK 1.76 billion. Concern’s turnover increased 15 percent a year.

Thursday, 4th of March, 2004

Schneider Electric Estonia doubled profit
Turnover of Schneider Electric Eesti AS in 2003 amounted to EEK 108.5 million, increasing 16.5 percent a year.
Company’s profit reached EEK 9.1 million, increasing nearly 100 percent a year.

Rimi Estonia’s sales reached EEK 208 million last year
Sales of Rimi Estonia that will open its first hypermarket in Ülemiste Centre on April 1 increased 61.3 percent up to EEK 208 million. Owner company ICA Baltic’s net sales grew 35.8 percent up to EUR 303 million last year.
Rimi started its operations in Estonia in 1999. ICA Baltic operates 74 stores in Baltic countries.

Friday, 5th of March, 2004

Sale of computers increased significantly
Domestic computer manufacturers ML Arvutid and AS Ordi increased significantly their sale of computers in February. Both manufacturers hope to sell 20,000 computers this year.
Mart Sepp, marketing manager of ML Arvutid admitted that the company sold 1280 computers in February. This is 59 percent more than last year. This year, ML Plans to increase sales by 15 percent.
AS Ordi sold 1360 computers in February, increasing the result by 20 percent.
Eesti Päevaleht

Estonian Air has 47 percent more clients
In February, Estonian Air transported 33,428 passengers on its 12 airlines. This is 47 percent more than in respective month last year.
Average occupancy of flights was 52 percent. Highest occupancy that reached 82 percent, was on the route of Tallinn-London. Number of passengers was biggest on the route of Tallinn-Copenhagen – 8415 passengers.Estonian Air plans to fly 600,000 passengers this year.

Merko Ehitus spearheads construction business in Estonia
Estonian construction group Merko which increased its turnover 62 percent last year proved that this is good time for large construction companies. Construction companies Merko Ehitus, Eesti Ehitus, Skanska EMW and FKSM reported a turnover that reached over EEK 1 billion.
Average growth in the construction market was 15 percent. In foreign countries, Estonian companies constructed for EEK 15.2 billion or 6 percent more.

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