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Observer Eesti Oü

WEEK 33. 2005

Monday, 15th of August, 2005

Turnover of ELKE Group over EEK 500 million in first half-year
The consolidated sales revenue of the car sales companies of ELKE Group reached EEK 503 million in the first half-year. Six month profit formed EEK 19 million. In total, ELKE Group sold 1456 vehicles in the first half-year.

OG Elektra has grown profit
The six-month net turnover of AS OG Elektra went up to EEK 347 million, profit from economic activities formed EEK 10.3 million. Respective figures a year ago were EEK 266.9 million and EEK 7.8 million.

Tuesday, 16th of August, 2005

Turnover of ETK Leib up
The six-month turnover of ETK Leib that operates under the trademark of Eesti Pagar reached EEK 87.3 million. A year ago, the bakery’s turnover reached EEK 74.9 million in first six months of the year.

Successful half-year for car dealers
The first half-year turned out successful for Estonian car dealers. Ten vendors that have published the economic results managed to grow turnover by 13.5 percent in average and profit by 56 percent in average.
Turnover of United Motors increased 10 percent to EEK 174 million. Last year’s result was EEK 158 million. Profit grew from last year’s EEK 4.6 million to EEK 5.2 million, which makes a growth of 13 percent.

Wednesday, 17th of August, 2005

Valio to invest in cheese-making
This year, Valio will develop its cheese-making segment in Võru with EUR 3 million. With investments, Valio will make the processes of cheese factory more effective and increase producing capacity. Võru is Estonia’s biggest cheese industry.

Tartu Airport to become international
In 2005-2006, EEK 20 million will be invested into Tartu Ülenurme Airport that will obtain meteorological and navigation appliances and restore taxiways and platforms. Tartu mayor Laine Jänes claimed that these are first steps in developing Tartu Airport into an international airport for serving regular flights.

Tourism season
In June, nearly 230,00 tourists stayed overnight in local accommodation establishments. This was 4 percent more than in respective period last year. 29 percent of visitors came from Estonia, 36 percent from Finland and 35 percent from other foreign countries.
Eesti Päevaleht

Thursday, 18th of August, 2005

Sales of Estonian consumers’ association up
The consolidated retail turnover of Estonian consumer’s association in first seven months of the year reached a little over EEK 2.9 billion. Compared to last year, retail sales increased 12 percent. Turnover increased 19.1 percent compared to last year. Järva and Saaremaa consumer’s associations sold most products. In total, about 500 stores all over Estonia belong to the Estonian consumer’s association.

Tourism farms enjoyed flow of visitors in summer
Rainy summer did not have any effect upon the number of visitors in Estonian tourism farms and holiday houses. The number of visitations was even bigger than last summer.
Owners of tourism farms admit that thanks to the association of rural tourism, local farms have entered also foreign markets. Farms are mainly visited by bigger tourism groups, who also plan field events. Besides groups, also car tourists from places like France, Spain and Italy have visited local tourism farms. Postimees

Friday, 19th of August, 2005

Turnover of Prisma up 30 percent
The I half-year net turnover of Prisma Peremarket that operates with four hyper markets in Estonia reached EEK 563 million which is 29.9 percent more than in respective period last year. The six-month commercial profit of the store chain was EEK 7.8 million, whereby a year earlier, the company was in a loss of EEK 1.6 million.

Estonia’s most powerful money machine brought almost a billion in a quarter
2Q profit of Hansapank, Estonia’s biggest money machine grew 38 percent to EEK 920 million. This is almost as much as the bank earned for the entire year five years ago. Lion’s share of the net profit (EEK 555 million) came from Estonia and the rest came from other markets: Latvia, Lithuania and Russia. In half a year, Hansapank Group has earned EEK 1.7 billion of net profit, which is 33 percent more than in respective period last year.

Estonian Air earned EEK 17.7 million in profit
In the first half-year, national carrier Estonian Air earned a profit of EEK 17.7 million. In respective period last year, the aviation company was in a loss of EEK 1.1 million. In first six months of the year, Estonian Air served 293,700 passengers, which is 20 percent more than in 2004. The average occupancy of Estonian Air’s flights was 61.9 percent, which is 3.4 percentage points more than last year.
Eesti Päevaleht

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