|WEEK 44th 2004
Monday, 25th of October, 2004
Manufacturing industry continues to grow
In September, the companies of manufacturing industry gave 6.8 percent of more production than a year earlier, announced the economics and communication ministry.
In food industry, output increased 2 percent in a year. In milk industry, output grew 10 percent and in meat industry 12 percent.
Tuesday, 26th of October, 2004
The sale of laptops grows due to spread of WiFi
According to IBM Eesti OÜ, nearly 18,000 laptops will be sold this year. This is 80 percent more than in respective period last year. 19 percent of laptops that were sold during three quarters of this year were compiled locally.
Turnover of BLS Estonia up by third
Turnover of AS Baltic Logistic System (BLS) Eesti grew 33 percent in three quarters of the current year compared to respective period last year. The amount of parcels grew 70 percent.
According to BLS Eesti, net turnover in 3Q surpassed EEK 10 million, which, compared to earlier period, is 53 percent bigger.
Opening flights to Egypt are sold out
Travel organizer TopTours has sold 1500 travel packages during first month. This is over third of the entire seasons sales plan. First direct flights to Sharm el Sheikh and Hurghada are sold out.
Wednesday, 27th of October, 2004
Estonian export continues to grow
In August, Estonian export grew 25 percent compared to same time last year; import grew by nearly third appears in foreign trade statistics.
For example trailer or caravan manufacturer Respo Haagised AS has increased export significantly. This year, the company manufactured 50 percent more trailers to foreign markets than last year. Main market is Finland, but trade is active also in Sweden, Norway and Latvia. 80 percent of production is sold abroad and first half-years export turnover was a little less than EEK 20 million.
Thursday, 28th of October, 2004
Elcoteq's net sales grew 67%, profit 10% in Q3
Estonia's largest exporter, Finnish-owned Elcoteq, reported Wednesday that its net sales grew 67%, net profit 10% in the third quarter. Elcoteq told the Helsinki bourse that the third-quarter net sales rose 67% over the same period last year to EUR 828.7 million. Earnings per share (EPS) grew 10% to EUR 0.33.
Werol made a leap towards profit
Rapeseed oil manufacturer Werol Tehased that so far has operated only with the support of state and earned a loss of EEK 110 million is about to reach profit.
Over half of Werol production goes to export in Latvia and Lithuania, and some also to Finland, Sweden and Norway.
Werols market share in Estonia is over 50 percent, about 50 percent in Latvia and up to 70 percent in Lithuania.
Industries sold meat products successfully despite of rainy summer
Although summer was rainy, meat industries were satisfied with 3Q sales results. Profit of Rakvere Meat Industry grew up to EEK 31.5 million and turnover up to EEK 331.7 million. Turnover grew 12 percent compared to last year.
Filee Meat Industry grew market share on the account of Latvia and Lithuania. Also Wõro Kommerts achieved good sales results. The company launched export to Latvia, which is going upwards.
Radiolinja boosts its profit in Estonia by 77 pct in nine months
Cell phone operator Radiolinja Eesti boosted operating profit by 77 percent to EEK 153 million in the first nine months of the year year-on-year. Radiolinja's nine months' turnover was EEK 859 million, a growth of 23 percent from last year.
Nordea Eesti grew over 40 percent in a year
This year, in the end of third quarter, the amount of Nordea assets reached over EEK 11 billion, which, compared to last year, means a growth of 42 percent.
Same time last year, the amount of Nordea assets reached EEK 7.8 billion.
Nordea loan and leasing portfolio in Estonia amounted EEK 9 billion by the end of 3Q.
In Estonia, Nordea earned a net profit of EEK 118.4 million in nine months. This means a growth of 42 percent compared to respective period last year.
Friday, 29th of October, 2004
Schneider Electric turnover up 20 percent
The nine-month net turnover of Schneider Electric Eesti AS reached EEK 90.6 million, which is 20 percent more than in respective period last year.
In 3Q, company turnover grew 10 percent up to EEK 33.068 million.
Most construction objects reached a stage, in which it was already possible to start electricity works and this increased demand of course, claimed Aldo Kotli, manager of Schneider Electric Eesti AS.
Kotli pointed out some important objects like Pärnu hospital, Milstrand terminal, expansion of Elcoteqs new factory, Ensto production facility in Keila and buildings of Tallinns Technical University.
Hansapank earns a record EEK 762 million in Q3
Estonia's largest bank Hansapank earned a record EEK 762 million (EUR 48.7 million) of net profit in the 3rd quarter of this year. This was a 36.4 percent growth year-on year, the bank told Tallinn Bourse. Analysts had expected the bank to post a net profit ranging from EEK 626 million to EEK 743 million.
Baltic Weekly MonitorA