Observer Eesti Oü

WEEK 22nd 2004

Friday, 28th of May, 2004

Export of Tallinn’s cold storage grew in times
In the first four months of this year AS Tallinna Külmhoone exported more than two times more ice-cream than in respective period last year.
This year, export turnover reached EEK 7.5 million instead of EEK 2.7 million last year.

Thursday, 27th of May, 2004

Ice-cream manufacturers to strive for the foreign markets
Balbiino, one of the two leading ice-cream makers, hopes to increase its exports further and become Estonia’s largest ice-cream maker. At present Balbiino exports to Latvia, Lithuanian and Germany. Teet Anier, marketing manager of Balbiino, says that the company may have about 10 percent of the Latvian market.

Powerful climb of Hansapank stock
Dutch investment bank ING gave Hansapank stock a recommendation to buy. This raised Hansapank’s stock again near EEK 100. The stock closed on EEK 99.83. ING’s target price is EUR 7.20 or EEK 113.

Profit of Helmes grew in the first quarter
The net turnover of software company AS Helmes in the 1Q of 2004 grew up to EEK 37.5 million, and net profit formed EEK 1.4 million. Last year, same period’s turnover was EEK 19.2 million and profit reached EEK 1.2 million.

Turnover of Pristis Group grew 40 percent
Total turnover of companies that belong to Pristis Group reached EEK 193.3 million in 2003. This is 40 percent more than in 2002.
In 2003, profit of Pristis Group was EEK 12.5 million.

Paide Factory to manufacture agricultural machines
The net turnover of AS Paide Masinatehas that has manufactured different agricultural machines for nearly half a century reached EEK 52 million and profit up to EEK 3.4 million in 2003. The prognosticated turnover for the year2004 is EEK 50 million and profit EEK 4 million.

Wednesday, 26th of May, 2004

Industry of construction materials to grow
In 2004, Estonian industry of construction materials continues in rising trend. The sales turnover of companies that belong to the association of Estonian construction material’s manufacturers reached EEK 920 million in the 1Q of 2004, having grown 17 percent compared to the year 2003. Sale of wall materials has grown by half. Also the sale of heating materials has been efficient – over 40 percent. Export of construction materials grew by EEK 38 million, reaching up to EEK 293 million.

Estonian electronics companies to grow
Incap Electonics, electronics manufacturer from Kuressaare, plans to triple its production capacity by building a new factory and hiring 210 additional people. Elcoteq Tallinn plans to double production capacity by autumn and hire additional labour force. Elva electronics factory Ahltronix Eesti AS will build a new, nearly three times bigger production facility by autumn and plans to hire 100 additional employeesMost of local electronics industries belong to Finnish or Swedish companies and make contract works either for parent companies or directly to some manufacturers.
Äripäev, Tartu Postimees

Tuesday, 25th of May, 2004

Profit of Ragn-Sells has grown significantly
Waste management company Ragn-Sells managed to earn a profit of EEK 18.3 million by the turnover of EEK 147.1 million last year. A year earlier, profit reached EEK 10 million. The amount of investments in 2003 was EEK 16.4 million, which is 2.5 times more than in 2002.

Production of computers made the biggest growth
In April, manufacturing of office equipment and computers grew 63.7 percent compared to April 2003. Production of means of transport grew 49.7 percent. Production of radio, television and connection equipment grew 34.2 percent.
Production of metal products grew 1.5 percent compared to 2003.

Export supported the growth of manufacturing industry
In April, production capacity of manufacturing industry grew 8.5 percent compared to April 2003. Half of sales growth came from the growth of export. Production capacity in food industry grew 5 percent. Textile industry gave 9 percent more production than a year ago. Production of wood industry grew 16 percent.

Monday, 24th of May, 2004

Merko Ehitus to beat competitors in Latvia
Merko Ehitus (Merko Construction) will build Riga’s ice-hockey hall which total cost reaches over EEK 400 million. From the EEK 2.7 billion turnover of Merko Construction in 2003, approximately EEK 263 million or nearly tenth came from Latvia and EEK 434 million or 16 percent came from Lithuania.

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