Observer Eesti Oü

WEEK 7.2006

Monday, 13th of February, 2006

AS Haljas made profit last year
According to unaudited data, turnover of AS Haljas was EEK 162.1 million last year; turnover was EEK 140.1 million a year before. Company’s income before income tax was EEK 0.4 million in 2005 compared to EEK 2.4 million loss in 2004. AS Haljas operates with import, export and wholesale of groceries.

Turnover of AS Frelok grew, profit decreased
According to unaudited data, turnover of AS Frelok was EEK 502 million last year; in 2004, company’s turnover was EEK 390.6 million. AS Frelok’s income before income tax was EEK 25.6 million in 2005; a year before, profit was EEK 46.4 million. AS Frelok sells steel products.

Estonia’s growth four times higher than in eurozone
According to Bloomberg, the EC predicts Estonia’s economic growth in 2006 to be 7.2%, which is 4 times higher than the eurozone average 1.9%. Despite that, the EU summit is to warn Estonia and Latvia to manage inflation and cut expenditures to be acceptable for changeover to the euro. Commissioner Joaquin Almunia said in a radio interview that Estonia’s high inflation (3.3% predicted) makes it difficult to transfer to the euro already in 2007.

Tuesday, 14th of February, 2006

Estonian economy grows quicker than expected
Economic prognoses of Estonia and Latvia have been changed in Hansapank Markets’ economic review due to economic results that were considerably better than expected. According to Hansapank Markets, Latvian economic growth reached to 10.5% and Estonian economic growth reached to 9.5%. Estonian and Latvian strong economic growth was caused by the quick growth in domestic and foreign demand.
Eesti Päevaleht

Thursday, 16th of February, 2006

Uus Maa multiplied turnover
Turnover of Uus Maa real estate bureau was EEK 50 million in 2005, which is more than three times higher than a year before. In 2004, turnover was EEK 16.6 million. Profit grew also – from EEK 0.7 million to EEK 16.5 million. Economic results are yet unaudited.

Hansapank had biggest profit per customer last year
Hansapank had bigger pro Color fit per customer last year than its competitors, show economic results of the banks operating in Estonia. Hansapank’s net profit per customer was EEK 2496, SEB Ühispank’s respective indicator was EEK 1350 and Sampo Bank earned EEK 1326 per customer. In the end of 2005, Hansapank had 50,000 business customers and 806,000 private customers. SEB Ühispank had respectively 51,590 business and 632,410 private customers and Sampo Bank had 20,000 business and 109,900 private customers. Hansapank earned EEK 2.1 billion of net profit last year, which is nearly 26% bigger than year before.

Friday, 17th of February, 2006

Turnover of Prisma chain over EEK 1 billion
Turnover of Prisma chain, which operates with four stores in Tallinn, reached EEK 1.268 billion last year, which is 38% more than year before. Chain’s operating profit was EEK 39 million. Arttu Laine, Prisma’s manager in the Baltic States said that all four stores ended with profit last year. Prisma’s purpose is to be market leader among super- and hypermarkets in whole Tallinn.
Executive manager of Rimi Eesti Food Ruth Laatre said that last year’s net profit of Rimi super- and hypermarkets in Tallinn was EEK 1.85 billion.

Kaubamaja increased turnover by 42%
Turnover of Tallinna Kaubamaja grew 42% last year, from EEK 2 billion to EEK 2.87 billion. Profit grew 54% in 2005 – net profit was EEK 91.8 million. Turnover of Tartu Kaubamaja grew 74.6% and turnover of Selver chain was EEK 2.19 billion.

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