Observer Eesti Oü

Estonia Business News: Archive 2003-

WEEK 5.2007

Monday, 29th of January, 2007

Milk production grew last year
According to initial data, milk production grew 3% in 2006 compared to 2005, egg production reduced 14% and meat production 2%, informed statistics department. Estonian agriculture manufacturers produced 690,300 tons of milk last year (670,400 tons in 2005).

Kristiine’s turnover grew 25%
Last year’s turnover of stores in Kristiine Centre was in all EEK 1.42 billion, which makes Centre’s turnover growth 25.4%. This is the biggest growth percentage Kristiine Centre has ever had. Centre’s turnover in December was EEK 178.4 million (growth 23.3%). 7.77 million people visited the centre last year.

Turnover of Viru Centre grew 24% last year
2006 turnover of Viru Centre grew 24% in a year, reaching EEK 1.81 billion. More than 12 million people visited the centre, who altogether made nearly 10 million purchases.

Tuesday, 30th of January, 2007

Assets of Hansabanka grew 71.1% last year
Assets of Hansabanka, Hansapank’s subsidiary company in Latvia, grew 71.1% last year to LVL 3.83 billion. Hansabanka owns 24% of the whole assets of Latvian banks.

Liviko sold 8 million litres of vodka last year
Alcohol manufacturer Liviko sold nearly 11 million litres of strong alcohol last year and company paid EEK 496 million alcohol excise. According to Liviko, sale grew by 5% in a year, there was more than 8 million litres of vodka sold and 2.7 million litres of other strong alcohol drinks. According to Liviko’s sales manager Ragnar Kits, one reason for grown sale is the use of strong alcohol tax stamps.

Kesko Agro’s turnover exceeded billion
Despite difficult year, Kesko Agro showed good results in 2006, growing turnover over EEK 1 billion and also having a small profit. Sale of building machines gave about 20% of company’s turnover last year. AS Strangko Group, which sells farm machines, also made well – company’s turnover grew by 1/10 and profit also as much. Company’s turnover was EEK 20 million and profit EEK 1.3 million in 2005.

Wednesday, 31st of January, 2007

Turnover of Lithuanian trade chain doubled
Though Lithuanian trade chain Maxima, which entered Estonian market three years ago, made nearly EEK 2 billion turnover last year, company has made no special profit. Company’s PR-manager Erkki Erilaid notes that 32 stores in Estonia have not brought a lot of profit due to continuous investments. According to Jüri Vips, head and owner of Comarket, Maxima’s speciality is focusing on turnover, not on profit.

Telegrupp grew turnover 13%
Telegrupp AS’ turnover last year was EEK 78 million and net profit EEK 5.2 million. Telegrupp sells, installs and maintains computer, connection and safety solutions.

Farm Plant grew turnover by EEK 100 million
Farm Plant Eesti AS’ last year’s turnover was EEK 477 million compared to EEK 374 million a year before. Company’s profit from economic activities was EEK 7 million in 2006 (EEK 3 million in 2005). Farm Plant Eesti AS produces and sells concentrated fodder and fertilisers.

Merit’s sale of economic software grew 22%
Merit Software’s sale of economic software grew 22% in 2006, reaching EEK 4.8 million. It was third year in a row where sale of software grew more than 1/5.
Eesti Päevaleht, Ärileht

Standard’s sale grew to EEK 210 million
AS Standard is the leading office and hotel furniture seller in the Baltic States; company’s turnover grew 16% last year, to EEK 210 million. Export formed EEK 60 million of the turnover and turnover of domestic market was EEK 150 million. Company’s income before income tax was EEK 12 million, which is 15% more than a year before.
Eesti Päevaleht, Ärileht

Balbiino’s profit doubled
Ice cream manufacturer Balbiino’s last year’s turnover was EEK 335 million and unaudited profit EEK 9.8 million. “Balbiino’s profit doubled last year – from EEK 4 million to EEK 10 million,” said Riho Niils, AS Balbiino’s manager. “In export the most important step was entering Finnish market where yearly growth was 60%,” adds Balbiino’s marketing manager Teet Anier.

Thursday, 1st of February, 2007

MarkIT’s turnover grew three times
MarkIT’s total turnover in 2006 was EEK 280 million; turnover grew more than three times compared to year earlier. MarkIT is a purchase environment of IT-products. According to company’s CEO Andres Agasild, company’s main purposes in 2007 are development of e-purchase environment in Estonia and other markets and starting business in Czech Republic, Slovakia and Slovenia.

maxit Estonia’s turnover nearly EEK 670 million
maxit Estonia’s turnover in 2006 was EEK 669.3 million; turnover was EEK 482.6 million a year before. Company produces and sells building materials and excavates natural resources.

Paroc increased turnover and profit
AS Paroc’s turnover in 2006 reached EEK 255 million; turnover was EEK 193 million in 2005. Company’s profit from economic activities was EEK 28 million (EEK 15 million a year before). AS Paroc is wholesaler of building materials.

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