Observer Eesti Oü

WEEK 46th 2004

Monday, 8th of November, 2004

Estonian Air served 49,505 passengers in October
In October, national carrier Estonian Air served 44,690 passengers on 16 of its regular routes and 4815 passengers on 54 special order flights.
The number of passengers during ten months of 2004 reached 463,810. Compared to last year, the number of regular route passengers was bigger by third and number of passengers on order flights was 75 percent bigger.
The Tallinn-Dublin route that was opened on October 14 has turned out a success. During first two weeks, the number of passengers reached over thousand and the average occupancy of the plane was 82 percent. Eesti Päevaleht

Tuesday, 9th of November, 2004

Number of tourists visiting Pärnu up by tenth
Compared to a year earlier, 10 percent more tourists visited Pärnu this year. This summer, approximately 300,000 people, of which about 180,000 were foreigners and 120,000 Estonians, visited Pärnu. This year, the number of foreign tourists went up by 20,000.
This year’s research of guests shows that the share of foreign tourists will grow.

Sales of Säästumarket exceed EEK 2 billion in ten months
Finnish retailer Kesko that operates Säästumarket discounter chain in Estonia said Säästumarket's ten-month sales exceeded EEK 2 billion. This is about ten percent more than a year ago.
By preliminary figures, Säästumarket sales in October were EEK 203.5 million.
Sales of Citymarket supermarkets in Estonia that are also owned by Kesko were EEK 178.4 million in October. In ten months Citymarket chain made sales of EEK 1.45 billion or 93 percent more than a year ago. During the year, two new Citymarkets were opened. Sales of Kesko-owned grocery stores in Estonia and Latvian increased 37 percent year-on-year.
Kesko has six Citymarket stores and 45 Säästumarket stores in Estonia. In addition, it has four DIY stores and three sales offices for agricultural machinery.

Selver reported strong growth in October
Selver, the chain of supermarkets owned by Tallinn Department Store, reported strong growth in October sales. Year-on-year, gross sales of Selver went up 23.5 percent to EEK 137.1 million.

Merko Ehitus reports 31.4 percent rise in nine-month net profit
Estonia's largest construction group Merko Ehitus reported strongly improved nine-month results this week. The Group's nine-month consolidated and unaudited net sales amounted to EEK 2.2 billion (142.7 million euros), up 20.4 percent. Net profit was EEK 187.7 million (12 million euros), up 31.4 percent.

Turnover of Baltika grew 16 percent in October
The October net sales turnover of Baltika reached EEK 54.8 million, which is 16.7 percent more than last year.
Retail sale that reached EEK 43.82 million grew the most.

Credit bank earned a profit of EEK 8.8 billion
In ten months, Credit Bank has earned a profit of EEK 8.8 million, of which EEK 675,000 in October.
Bank’s total assets amounted EEK 1.6 billion by the end of October.
Credit Bank had 53,425 clients in the end of 2004.

Wednesday, 10th of November, 2004

Estonian Railways carried 6.5 percent more freight in October
Estonia’s largest rail freight carrier Estonian Railways reported to have carried 3.37 million tons of freight in October. This is 6.5 percent more than in October 2003, said the company’s acting marketing manager Mart Haugas. Haugas said that the freight flows increased mainly because of persistently high prices of oil products on world markets.

Tallink served 308,000 passengers in October
In October, Tallink Group served 308,045 passengers, which is 100,000 passengers more than a year earlier. According to Marek Mägi from Tallink, the results of St. Petersburg and Stockholm route are especially pleasing.
Eesti Päevaleht

Value of Hansapank grew EEK 11,500 a second
During two stock exchange days, the market value of Hansapank has grown by EEK 2 billion or nearly EEK 11,500 a second.
The Hansapank stock that achieved a new record level (EEK 132.21) for the second day in a row yesterday raised bank’s market capitalisation from EEK 40.9 billion to EEK 42.0 billion. The 2.2 percent growth of stock price a day earlier raised bank’s value by EEK 0.9 billion.

Helmes doubled both profit and turnover
The consolidated nine-month net turnover of AS Helmes formed EEK 111.2 million and net profit reached EEK 5.6 million.
In respective period last year, Helmes earned a profit of EEK 2.8 million by the turnover of EEK 65.9 million.
The operating area of Helmes is software development, business and IT consulting, ERP solutions, project management and quality assurance, helpdesk and IT support services.

Computer manufacturing to grow forcefully
During three past years, computer manufacturing has grown nearly 30 percent a year and at the moment, about twice as much computers are being compiled than five years ago. In total, 7596 computers were manufactured in September this year.
Three biggest players – ML Arvutid, Ordi and K-Arvutisalong – own 77 percent of the market.

Thursday, 11th of November, 2004

Pakterminal restored the leader’s position
In ten months of this year, Pakterminal loaded over 8.2 million tons of oil, with which it restored its market leader’s position that was surrendered to Eurodek in the mean time. Mart Tooming, chairman of The Port of Tallinn admits that the management of Pakterminal has made great effort to increase efficiency.
Next year’s transit flow depends much on the port tariffs of the Port of Tallinn. Danger that the goods would reach competing ports due to great rise in tariffs is rather big. The same happened in Finland in the end of 1980’s when Estonians took local oil transit over with cheaper prices. Now, Russian ports might do the same for us.
“If we could avoid foolishness, Russian oil transit through Estonia should grow next year,” added Sulev Loo, chairman of Pakterminal.

Friday, 12th of November, 2004

Edelaraudtee had approximately 1.5 million passengers
In October, 154,269 people travelled with the passenger trains of Edelaraudtee. In ten months of the current year, total number of Edelaraudtee passengers is 1,464,810. Compared to October last year, number of passengers has increased by 13,427 and compared to ten months in 2003, number of passengers has grown by 131,917.
Eesti Päevaleht

Sales of Kunda Nordic Cement up 20 percent in Estonia
Estonian cement producer Kunda Nordic Tsement sold 306,000 tons of cement in Estonia in the first nine months, up 20 percent in a year.
In nine months the company's sales were EEK 422.5 million. Export accounted for 26 percent of sales. In comparison with last year, export of cement are up by almost 35 percent.
The company exported 49 percent of production in 2003 and about 40 percent in the first half.

Nine-month profit of Balteco was EEK 14.5 million
Nine-month profit of Baltic’s biggest bath and massage bath manufacturer AS Balteco reached EEK 14.5 million by the turnover of EEK 120.7 million.
Last year, the company earned a profit of EEK 5.2 million by the turnover of EEK 152 million.

S-Marten almost doubled profit
The nine-month net sales of wholesale and logistics company AS S-Marten reached EEK 647.3 million. A year ago, the company’s sales amounted EEK 504.9 million.
In three quarters, S-Marten earned EEK 6.6 million of net profit, whereby a year ago, the profit reached EEK 3.3 million.

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