Reval Hotels
Observer Eesti Oü

WEEK 18. 2005

Monday, 2nd of May, 2005

Hansabank Markets to predict faster economic growth for Baltic countries
According to the prognosis of Hansabank Markets, economy of three Baltic States will grow faster than the economy of the rest of the EU countries in following 2-3 years. Despite of a rather poor economic situation in West-Europe, all three Baltic countries have increased their export in this direction. Hansabank Markets estimates the export to West-Europe will stay strong also in 2005 and 2006.

Industrial production up in March
In March 2005, production of industrial enterprises increased compared to both this year’s February and last year’s March. Based on seasonally corrected data, the industrial enterprises manufactured 3 percent more in March compared to February and 12 percent more compared to March 2004.

Tuesday, 3rd of May, 2005

This summer 100,000 more tourists in Tallinn
Cruise season, that is beginning this Thursday, will bring about 300,000 trippers on 331 ships to Tallinn, 100 more ships and 100,000 more tourists than last year. Tourists will be spending four to eight hours in Tallinn. On 8th September, 8 huge ships will be landing here.
Tourists are most interested in Tallinn’s Old Town, but many also want to see Estonian manors and Rakvere. According to Tallinn Harbour, 60 % of cruisers are citizens of the EU, 30 % of the USA and 10 % are from other countries.

Wednesday, 4th of May, 2005

Car dealers are satisfied with quarterly results
The successful 1Q shows that car business has reached the profit-making era. In the 1Q, Amserv Grupp and Saksa Auto were the most profitable, having almost doubled their profit compared to respective period last year. But Silberauto can demonstrate the best results – EEK 539,7 million in turnover from which 4 percent was profit. Vendors of new cars repeated the car sales boom that developed before the EU accession. Most sold car was Toyota (255).
Turnover of United Motors in the 1Q of 2005 amounted EEK 73 million, whereby profit reached EEK 1.7 million. In respective period last year, United Motors earned a profit of EEK 1,0 million by the turnover of EEK 76.8 million.

Tallinn Airport’s passengers’ turnover grew 56 %, amount of business grew 118 %
In April, 56 % more passengers than same time last year passed through Tallinn Airport. 71,739 passengers passed through airport in April last year; this year it was 112,027 passengers. Amount of business grew from 351 tons to 767 tons. Sales for mail decreased 8 %.
Stock company Tallinn Airport belongs wholly to Estonian state.

Ühispank earned EEK 200 million in a quarter
This year in 1Q, SEB Eesti Ühispank earned a profit of EEK 200 million that is five million kroons or 3 percent more than in respective period a year ago. Mart Altvee, CEO of Ühispank admits that the reasons behind the growth are the continuous favourable development of Estonian economy.

Thursday, 5th of May, 2005

Accession to the European Union brought wave of tourists
For the end of the year, Tallinn Harbour hopes to serve 7 million clients.
Erik Sakkov, marketing manager of Tallinn Harbour, noted, that the EU has influenced number of passengers positively. Year before, harbour served little below 6 million clients, after acceding to the EU this number grew to 6.7 millions.
Last year, most tourists came from Finland. Number of tourists from Germany, Italy, Great Britain and Sweden has also increased.
Marketing manager of Tallinn Airport Eduard Tüür says that this year, airport hopes to serve 1.3 million people. “If there had been two additional days in last year, we would have reached million then.”
Eesti Päevaleht

Elisa got 2093 new clients in April thanks to number portability
7576 clients have joined Elisa in first four months this year. Growth of clients (“nett win of mobile clients”), resultant of number portability, was 819 clients in April.

Previous weeks:

Back to Baltic Business Monitor
Archives 2003-2005

 TERMS & CONDITIONS / KÄYTTÖOIKEUDET. © Oy Compiler Ab. All rights reserved.