Observer Eesti Oü

WEEK 47th 2004

Monday, 15th of November, 2004

Average wages up 8.4 percent this year – Fontes
A wage survey made by Fontes, which covered 139 companies, shows that average wages have gone up 8.4 percent in a year. A year ago the company forecast that the wages would rise by no more than 6.3 percent. According to Fontes, 78 percent of employees already receive performance-based pay.

In ten months, state collected EEK 3.69 billion kroons more than last year
In ten months, EEK 37.83 billion has returned to the state budget. This means that 79.45 percent of the budget is fulfilled.
In respective period last year, EEK 34.14 billion returned to the state budget. In total, the return to the budget has increased by EEK 3.69 billion or 10.82 percent.

Tuesday, 16th of November, 2004

Estonian Air carried 49,505 passengers in October
Estonian Air carried on its 16 regular routes 44,690 passengers and on 54 charter flights 4,815 passengers in October.
During the ten months of 2004, the airline carried 463,810 passengers, 36,672 of whom on charter flights.
The passenger number on regular flights has gained a third when compared to the same period last year and charter passengers have grown 75 percent.
The newest, Tallinn-Dublin route opened on October 14 has proved to be extremely popular, more than a thousand passengers travelled between the two cities during the two first weeks and the average load factor was 82 percent.
The load factor was high also on the London and Oslo routes. The total passenger
number was in October highest on the Tallinn-Copenhagen route, throughout the year 2004 every fifth passenger has travelled on the Tallinn-Copenhagen route, as Copenhagen is the main hub for connecting flights between Estonia and the rest of the world with SAS and other Star Alliance partners.
The main charter destinations in October were in Greece and Turkey.
In October 2004 one third of all tickets for Estonian Air were sold via Internet.

Profit of Salvest grew by million
In nine months, AS Salvest, the manufacturer of canned food, achieved a net profit of EEL 8.5 million by the turnover of EEK 74 million. A year ago, the company’s turnover amounted EEK 65.3 million and profit reached EEK 7.5 million.

Wednesday, 17th of November, 2004

Saaremaa Shipping Company transported a record number of passengers
By November 15, Saaremaa Shipping Company had transported 1,501,420 passengers and 515,304 vehicles. This is a record result of the shipping company.
During respective period last year, the company transported 1,479,495 passengers.
Eesti Päevaleht

Turnover of AS E-Betoonelement increased by almost a quarter in the 3Q
3Q turnover of AS E-Betoonelement, the manufacturer of construction solutions, reached EEK 109.6 million, which is almost 25 percent higher than in respective period last year. The same indicator in 2003 was EEK 85.1 million. Nine-month turnover of the company amounted EEK 224.6 million. Same indicator last year was EEK 198.3 million, which means a growth of 12 percent. Nine-.month profit of AS E-Betoonelement reached EEK 14 million.

Thursday, 18th of November, 2004

Estonia receives highest credit rating in Eastern Europe
Credit rating agency Standard & Poor's has upgraded Estonia's long-term credit rating to A from A-minus on the back of a solid economic outlook. This makes Estonia the country with the highest credit rating in Eastern Europe. However, S&P warned that the per capita income of the country remains one of the lowest in the region.

Construction material business does well
Estonian producers of construction materials and building supplies have notably increased both sales and profits in nine months. Window maker Glaskek that made EEK 366 million in nine months posted the biggest sale. Medium industrial and energetics enterprise Maxit Estonia posted EEK 66 million in profit.

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