|WEEK 36th 2004
Monday, 30th of August, 2004
Wages still highest in Estonia
A comparison of statistical data of wages in the Baltics in the second quarter shows that the highest average wages were in Estonia at EUR 474, followed by Lithuania (EUR 354) and Latvia (EUR 316). At the same time annual wage growth in Latvia was nine percent, in Estonia 7.3 percent and in Lithuania 5 percent.
Junes export 19 percent bigger than last year
Compared to June of 2003, export in June of 2004 was 19 percent bigger. The relative importance of EU member states in export was 78 percent and the importance of CIS countries was 8 percent.
ETK Leib achieved an EEK 75 million sale
AS ETK Leib that represents the trademark Eesti Pagar achieved a net turnover of EEK 74.9 million in the first half-year. Turnover last year reached EEK 69.7 million.
KR Kaubanduse AS reached profit
KR Kaubanduse AS that is known under the name of K-Raua ACE reached net turnover of EEK 59.9 million and net profit of EEK 0.6 million in the first half-year of 2004. In first half-year of 2003, the company was in loss with EEK 0.5 million.
Turnover of Järva Tarbijate Ühistu grew significantly
The net turnover of Järva Tarbijate Ühistu, a consumers cooperation, formed EEK 240.3 million and the company earned a profit of EEK 1.9 million in the first half-year. In respective period last year, the companys turnover reached EEK 196 million and profit reached EEK 0.6 million.
Turnover of Benito Puit grew over EEK 60 million
AS Benito Puit, a wood company, earned EEK 92.5 million of net turnover and EEK 1.8 million of net profit in the first half-year. In respective period last year, the company earned a profit of EEK 1.5 million by the turnover of EEK 72.7 million.
Tuesday, 31st of August, 2004
EU membership increased the export of enterprises
Estonias accession to the EU has created a better environment for export. Saku Brewery affirms that after EU accession, export to Finland has multiplied compared to May, June and July last year. Also Tallinns Milk Industry increased its export to Finland after May 1.
According to Alar Pink, marketing manager of Kalev sweets factory, Estonias accession to the EU has not significantly increased Kalevs export. The sweets manufacturer has been operating successfully in these markets also before. Kalevs sales in EU member states has been stable. But Pink admits that it is now important to consider the changed situation. Estonia is now only one market among many. The personnel of Kalevs marketing department has changed the factory has created two new posts for specialists of foreign markets.
First-half sales of furniture maker Viisnurk up
Estonian furniture maker Viisnurk reported that it ended six months of 2004 with the net profit of EEK 0.6 million (36,000 euros). In the same period last year, the net profit was EEK 3.2 million (EUR 0.2 million). First-half net sales totalled EEK 195 million (12.5 million euros). In the same period last year, the net sales totalled EEK 188.6 million (EUR 12.1 million).
Estonia's state budget to grow by EEK 4.4 billion next year.
Finance minister Taavi Veskimägi said that the planned cut in the personal income tax rate will leave people an additional EEK 1.3 billion. Veskimägi said that it was anyone's own decision whether this money is saved or spent.
Turnover of Harju Tarbijate Ühistu grew profit and turnover
The net turnover of Harju Tarbijate Ühistu, a consumers cooperation, formed EEK 81.8 million and the company earned a profit of EEK 3.4 million in the first half-year. In respective period last year, the companys turnover reached EEK 63.9 million and profit reached EEK 1.3 million.
Turnover and profit of Kaupmees Grupp increased
In the first half-year of 2004, Kaupmees Grupp earned a net profit of EEK 10 million by the turnover of EEK 395 million. In respective period last year, the wholesale company of food and convenience goods earned a profit of EEK 3.6 million by the turnover of EEK 344 million.
Turnover of Farm Plant Estonia bugger by EEK 40 million
In the first half-year of 2004, Farm Plant Estonia earned a net profit of EEK 7.3 million by the turnover of EEK 219.4 million. In respective period last year, the subsidiary of Swedish agricultural concern Svenska Lantmännen and Norwegian Norsk Hydro ASA earned a profit of EEK 6.2 million by the turnover of EEK 176.4 million.
Profit of JOT Estonia more than doubled
In the first half-year of 2004, OÜ JOT Eesti earned a net profit of EEK 14.2 million by the turnover of EEK 174.7 million. In respective period last year, the planner, manufacturer, seller and maintainer of electronics appliances earned a profit of EEK 6.4 million by the turnover of EEK 179.4 million.
Wednesday, 1st of September, 2004
Saku increases sales
Saku Brewery has reported EEK 16.1 million (1 million euros) in first-half net profit, down from 16.4 million a year ago. Beverage sales for the first six months of 2004 totalled 32.5 million litres, 24 percent up on the same period in 2003. Sales amounted to EEK 255.2 million (16.3 million euros, up 19.5 percent in a year.
Subsidiaries of Kalev brought a fast increase of sales
In the last quarter of sweets maker Kalevs economic year, sales grew nearly three times up to EEK 232.6 million due to the active operations of Kalev subsidiaries. Companys sales during the entire economic year reached EEK 564.9 million, which is 62 percent more than a year ago.
Net sales of trade enterprises up 15 percent in Estonia in a year - Q2
Increase in the net sales of trade enterprises continued in the second quarter in Estonia, reported the statistical office. In the second quarter, total net sales of trade enterprises were 15 percent larger than in the same quarter of the previous year.
Profit and turnover of Asva Estonia grew
In the first half-year of 2004, AS Asva Eesti earned a net profit of EEK 11.1 million by the turnover of EEK 155.5 million. In respective period last year, wholesaler of steel, aluminium and copper earned a profit of EEK 5.3 million by the turnover of EEK 97.2 million.
Harju KEK improved results
In the first half-year of 2004, Harju KEK earned a net profit of EEK 34.6 million by the turnover of EEK 201.3 million. In respective period last year, the holding enterprise earned a profit of EEK 26.8 million by the turnover of EEK 184.2 million.
Thursday, 2nd of September, 2004
Merko Ehitus grew turnover by 39 percent
Merko Ehitus, the largest Estonian building firm, posted 39 percent increase in first-half turnover and increased profit by almost a half.
SL Õhtuleht with highest advertising sales
SL Õhtuleht, Estonias No. 1 tabloid newspaper, managed to increase its advertising sales in August by about 20 percent year-on-year. SL Õhtuleht made EEK 2.7 million in advertising sales in August, while Eesti Päevaleht earned 2.9 million. The largest revenues were posted by Postimees (4.5 million). Eesti Ekspress made 3.5 million and Äripäev 3 million in advertising sales.
Production of Estonian construction enterprises grew 17 percent
In the 2nd quarter the production of Estonian construction enterprises grew 17 percent compared to the same period of the previous year. Compared to the 1st quarter, when the production in construction grew 28 percent, the growth in production slowed down in the 2nd quarter.
Saaremaa Liha- ja Piimatööstus doubled its export
Saaremaa Liha- ja Piimatööstus, the local meat packer and dairy group on the island of Saaremaa, says that it doubled its monthly exports to the EU from 58 tons to 115 tons.
Friday, 3rd of September, 2004
EU accession increased the flow of tourists to Pärnu
Estonian accession to the European Union has notably increased the number of tourists in Pärnu, Estonias main resort town. In eight months Pärnu was visited by 4,000 tourists more than during the whole last year.
Baltic Weekly MonitorA