Observer Eesti Oü

WEEK 30th 2004

Friday, 23rd of 2004

Organisers of sunny trips are enjoying over the results of the first half-year
According to Estonia’s biggest tourism agencies that organise trips to warn countries, the occupancy of trips has been very good this year. This reflects also in the half-year results of travel companies.
Marina Laikjõe, executive director of Domina World Travel admitted that the turnover of Domina grew from EEK 43.5 million to EEK 54 million and net profit grew from last year’s EEK 2.1 million to EEK 2.5 million this year. Laikjõe added that Domina made no discount campaigns and all trips were sold with catalogue prices.
Also the half-year of Horizon Travel went well in the first half-year – occupancy of trips and number of passengers increased. Turnover of Novatours that organises trips to Tunisia and Turkey reached EEK 12 million in the first half-year. Turnover of Marhaba Tours reached EEK 15 million and profit half a million in the first half-year.

Bad weather to favour ship traffic
Bad weather favour ship traffic at the Baltic Sea, on the route between Helsinki and Tallinn, where the number of passengers has grown by tenth, writes Kauppalehti.
According to the representatives of ship companies, bad summer weather favours cruise trips and one-day trips. Growth of passengers on Tallink ships was 15 percent in July.

Sales of mobile phones has significantly increased
According to Elion and Radiolinja, the sales of cellular telephones has strongly increased in the first half-year. Consumers tend to prefer telephones with flaps.
The sales of mobile telephones grew 40 percent in the first half-year compared to same period last year, said Ain Parmas from Elion.

Helmes earned EEK 4.7 million of profit
The turnover of software company Helmes was almost two times bigger in the first half-year compared to respective period last year. Company’s profit reached EEK 4.7 million.
The turnover of Helmes in the first half-year amounted EEK 79.5 million, which is 77 percent more than last year, when company’s turnover reached EEK 44.8 million and profit was EEK 3.3 million.

Tallinn’s Milk Industry grew turnover
Six months turnover of Tallinn’s Milk Industry was EEK 384 million, which is 34 percent more than in respective period last year, announced the company.
Turnoevr of fist six months last year reached EEK 288 million.

Thursday, 22nd of July, 2004

HEX Tallinn received a profit of EEK 5 million in six months
HEX Tallinn that unites Tallinn Stock E Color xchange and Estonian CSD earned EEK 20.6 million of business income and EEK 5.2 million of net profit in six months.
Business income is 9 percent bigger compared to same period in 2003, announced Jaanus Erlemann from HEX Tallinn.
HEX Tallinn’s equity capital was EEK 37.3 million in the end of the period and the profit of the first half-year reached EEK 5.2 million. Results are consolidated but un-audited.
According to Erlemann, mainly the increase of trading at the Tallinn Stock Exchange influenced the economic results of HEX Tallinn positively. Turnover of deals at the stock exchange reached EEK 5.7 billion, which is 51 percent more than last year.

Norma earned nearly EEK 40 million
In the 2Q, car parts manufacturer Norma earned EEK 39.3 million of profit by the turnover of EEK 283.8 million. Company’s turnover of 1Q reached EEK 507.5 million and profit EEK 63.2 million.

Growth of Estonian industrial production was one of the fastest of the EU in May
According to Eurostat, the growth tempo of Estonian industrial production in May was on the sixth position in the EU. Compared to April, the production grew 1.3 percent in May.

Wednesday, 21st of July, 2004

Seesam Life Insurance collected EEK 37.2 million of insurance payments
In the first half-year, Seesam Life Insurance collected EEK 37.2 million of insurance payments. Compared to last year, the sum is EEK 1.7 million more.
The company collected EEK 6.3 million of payments in June.

BIG earned EEK 10 million of profit in six months
In the first half of the year, AS Balti Investeeringute Grupp (BIG – Baltic Investment Group) earned EEK 10.4 million of net profit. The success was guaranteed by company’s operations at the market of small and consumer loans.
In the first half-year, BIG issued loans in the value of EEK 86 million, which is 72 percent more than in respective period last year.

Supermarket chains cheer over first half results
First half-year was extremely successful for most retail chains in Estonia. Big chains are taking market share from small stores and grow revenues from the general increase of consumer’s living standard.
During first six months, the total turnover of ETK reached EEK 2.3 billion, increasing 14.7 percent.
Turnover of Citymarket that belongs to Kesko reached EEK 798 billion in first half-year. This means a growth of 78 percent compared to last year.
Turnover of Rimi store chains grew 90 percent. A-Selver’s turnover grew 22 percent up to EEK 673 million in first six months.

Monday, 19th of July, 2004

Estonia climbed on the list of economic freedom
In this year’s index of economic freedom, Estonia climbed from the last year’s 16th to 11th position.
Estonia shared the 11th position with Finland and Holland, outracing most of the old EU member states and all new member states.

Manufacturer of children’s’ furniture to pamper the village of Põlva
AS Suwem that purchased the bankrupt OÜ Himma Furniture’s production facilities in November last year and the bankruptcy assets in the middle of June this year has increased the production output by half – 48 percent.
Suwem prognosticates a high growth of turnover. The prognosticated turnover for the year 2004 is EEK 17 million and EEK 23 million for 2005. Prognosticated profit for 2004 is EEK 1.5 million and EEK 2.5 million for 2005.

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