Observer Eesti Oü

WEEK 32nd 2004

Friday, 6th of August, 2004

Turnover of Glaskek surpassed the limit of EEK 100 million
In the first half-year of 2004, AS Glaskek earned EEK 3.3 million of net profit by the net turnover of EEK 102.8 million. The amount of investments reached to EEK 5.2 million. AS Glaskek is a manufacturer of windows and doors.

Turnover of Malmerk grew by EEK 7 million
The net turnover of AS Malmerk reached EEK 97.7 million in the first half-year. A year ago, the turnover was EEK 90.7 million. In the first six months, the manufacturer of construction materials earned EEK 4.4 million of net profit.

Rudus Estonia earned over EEK 7 million of profit
The six-month net turnover of AS Rudus Eesti reached EEK 104.4 million compared to last-year’s EEK 93.5 million. Manufacturer of construction materials earned EEK 7.2 million of net profit in the first six months of the year.

Kitman grew profit by 30 percent
The half-year turnover of AS Kitman grew up to EEK 41.2 million, which is nearly 30 percent more than in respective period last year. Net profit of AS Kitman, manufacturer of furnishing, metal furniture, fireboxes and mailboxes, reached up to EEK 4.9 million in the first half-year of 2004.

Wednesday, 4th of August, 2004

Harju Electricity surprised with record operating profit in the 2Q
Operating profit of Harju Electricity, Baltic leading manufacturer of electricity appliances and materials, grew more than twice in the second quarter. Growth surpassed the expectations of both the company and the analysts.
By the turnover of EEK 103.5 million, the profit reached to EEK 7.1 million in the second quarter of 2004. Andres Allikmäe, chairman of Harju Electricity admits that the success of parent company and the actuation of a subsidiary in Lithuania caused the double growth of operating profit.

MicroLink earned a record profit with the help of the sale of companies
In the ending fiscal year, the sale of Delfi and SAF earned MicroLink a giant profit of EEK 350 million.
Last year’s profit reached EEK 1.7 million.
Company’s profit of main activity (IT-services and solutions) reached EEK 12.7 million this year.
MicroLink’s turnover of the ending fiscal year amounted EEK 820 million.

A number of Tallink’s passengers grew by 120,000 people in July
The number of Tallink’s passengers of fast and passenger ferries grew by 199,646 people up to 424,245 passengers in July. This exceeds the results of July in 2003.
According to Marek Mägi, head of Tallink Group’s investor relations, all the ship lines have made a leap forward. “We are very pleased with the success of Victoria on the route of Sweden, also Regina Baltica is working well on the same route,” said Mägi. He admits that the number of passengers grows also on the route of St. Petersburg.

Tuesday, 3rd of August, 2004

Number of passengers to grow in the Tallinn’s airport
The number of passengers in the Tallinn’s airport grew more than half in July compared to respective period last year. When in July of 2003, 59,667 people passed the airport, then this year, the number was 91,601.

Monday, 2nd of August, 2004

Government to expect an economic growth of 5.6 percent
In the prognosis that was published on Friday, the ministry of finance prognosticates an economic growth of 5.6 percent for this year and 3.3 percent of growth for the consumer price index. For the year 2005, the ministry expects an economic growth of 5.9 percent.
“We are proud to admit that Baltic countries are in the forefront within the European Union in terms of economic growth,” claimed Andrus Säälik from the ministry of finance.

Turnover of Esma Auto increased by EEK 15 million
The net turnover of AS Esma Auto in the first half-year reached EEK 134.9 million and net profit EEK 3.4 million.
Last year, the respective period’s turnover was EEK 119.7 million and profit reached EEK 4 million. Esma Auto that represents Mazda brand in Estonia sold 248 vehicles during first six months of the year. 26 of 248 vehicles were exported.

Good quarterly result of Kesko
Profit before taxes of Finnish trade concern Kesko that reached EUR 59.8 million surpassed the expectations of analysts, who prognosticated a profit of EUR 50.5 million for Kesko in the second quarter.
Profit per share was EUR 0.5 compared to EUR 0.34 in the second quarter of 2003.

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