Reval Hotels
HR Express
Observer Eesti Oü

WEEK 44. 2005

Monday, 31st of October, 2005

Ühispank’s quarter profit over 50% bigger than last year
In 3Q this year SEB Eesti Ühispank earned a net profit of EEK 274 million, which is 70 percent more than a year ago when 3Q profit reached EEK 161 million. In total of nine months, SEB Ühispank has earned a net profit of EEK 720 million, which is 35percent more than a year ago. According to the bank the growth is due to increase of loan portfolio, life insurances, strong results of property management and very good loan quality.

Tallink Group to invest whole profit
AS Tallink Group has informed that it will invest the whole profit from 2004/2005 economic year. During this year, Tallink carried 3.3 million passengers, which is 15.8% more than year before. Amount of passengers grew 14.6% on Finnish line and 20.7% on Swedish line. Company’s consolidated sales revenue was EEK 4.1 billion, being 19.3% bigger than year before. Trade profit increased by EEK 182.5 million to EEK 628.8 million; net profit of the economic year was EEK 473.2 million, which is 51% more than the profit of 2003/2004 economic year.

Tuesday, 1st of November, 2005

Eesti Energia doubled export in September
Eesti Energia reported of having more than doubled the export of electricity energy in September. Growth of export was due to increase of export to Latvia and major export to Lithuania at the time of Ignalia nuclear power station renovations.

Rakvere meatpacking plant turnover reached over EEK 1 billion
Rakvere Lihakombinaat, the largest meat processing company in the Baltics, said its nine-month net sales were EEK 1 billion up from EEK 927 million a year ago. The company sold 35.5 thousand tons of meat in the Baltic states during the given period, which was an increase of 9.3 percent. The net profit of the group was EEK 90.9 million up from EEK 74.6 million.

Sales of retail trade companies up 10 percent in September
Sales of retail trade companies in September grew 12 percent compared to same period last year. Due to the beginning of school year the sales of wardrobe and household products grew especially profitably.

Fast growth of industrial production continued in September
According to the statistics board the production of Estonian industrial concerns increased compared to both August and last year’s September. In September 2005, Estonian industrial concerns produced 8 percent more production than in August and 13 percent more than in last year’s September.

Wednesday, 2nd of November, 2005

Estonia one of the fastest growing in EU
According to Hansabank Markets Baltic review, the prognosticated economic growth of Estonia in 2005 is 8.1%, Latvia 8.8% and Lithuania 6.8%, corresponding figures for 2006 are 7.4%, 7.6% and 6.5%. Export grows over 20% annually and local demand decreases unemployment, but next to impact of general fuel price rise, that also increases inflation to 4.7% in Estonia and 8.3% in Latvia.

Friday, 4th of November, 2005

Car dealers satisfied with first 9 months
The nine-month economic results of car dealers show the increase in both turnovers and profits. Dealers believe the success to continue.
Kaljo Karilaid from United Motors, the representative of BMW and Mini, admits that this year’s market growth is almost twice as big as was predicted. Mr. Karilaid thanks especially the improvement of client service for the turnover of EEK 258 million and profit of EEK 8.9 million. Most sold models in United Motors were 3rd and 5th series BMW, but also the jeep X5, which shows that interest, has increased also towards bigger cars. Compared to same period last year, the turnover of United Motors grew 11.3 percent.

Turnover of Ülemiste Centre reached EEK 100 million
Ülemiste Centre's October turnover reached approximately EEK 100 million. compared to October 2004 turnover went up 50 percent.

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