Observer Eesti Oü

Estonia Business News: Archive 2003-

WEEK 6.2008

Tuesday, 5th of February, 2008

Credit Bank's profit EEK 83 million
Estonian Credit Bank's profit in 2007 was EEK 83 million, which is 9% growth compared to previous year.

Columbus IT's turnover grew nearly 50%
Columbus IT Eesti's turnover in 2007 was EEK 56.8 million and profit EEK 3.4 million. "Compared to year 2006 company's turnover grew 46%," said Columbus IT Partner Eesti AS manager Ivo Suursoo.

CF&S Estonia's profit doubled
AS CF&S Estonia earned EEK 29 million income before income tax with EEK 319 million turnover last year. Company's turnover in 2006 was EEK 264 million and profit EEK 26 million.

Thursday, 7th of February, 2008

ERGO's turnover grew by EEK 110 million
ERGO Kindlustuse AS insurance company earned EEK 115.2 million income before income tax with EEK 932 million turnover in 2007. Sum of investments was EEK 158.6 million last year. Insurance company's turnover in 2006 was EEK 820.6 million and profit EEK 121.3 million.

Telekom's annual profit EEK 1.5 billion
AS Eesti Telekom's net profit grew 15% in 2007 compared to previous year to EEK 1.51 billion. Group's sale income reached EEK 1570 million in past quarter (EEK 1554 million in 4Q 2006). Eesti Telekom's 4Q net profit was EEK 455 million.
Eesti Päevaleht

Last quarter profit of Eesti Ehitus grew nearly 30%
Eesti Ehitus ended financial year with powerful result: 4Q profit grew from EEK 72.2 million to EEK 93.5 million. In all construction company earned EEK 302.3 million profit last year, which is 61% more than in 2006. Concern's profitability in 2007 improved.

Friday, 8th of February, 2008

EEK 2 billion
SEB Eesti Ühispank's net profit grew to EEK 2 billion last year, which is 47% growth compared to 2006.

Puumarket grew turnover and profit
AS Puumarket's unaudited turnover in 2007 reached EEK 360 million and income before income tax was EEK 19 million. Sum of investments last year was EEK 30 million. Company's turnover in 2006 was EEK 289 million and income before income tax EEK 17 million. AS Puumarket sells building materials.

Winner of the week - Toomas Luman
Major owner of Eesti Ehitus Toomas Luman has managed to direct company skillfully last year. In 2007 company earned EEK 302.3 million profit, which is 61% growth compared to 2006. This is good news for major owner as well as for small investors. Company's stock grew yesterday 6% after economic results were announced.

Eesti Ehitus repeated good result
Despite changed situation on building market Eesti Ehitus was once again able to surprise shareholders with 4Q results and wiped away analysts' predictions. "Company's strong results in profit and turnover exceeded our prognoses," said analyst of Hansabank Markets Sander Daniil. Of last year's turnover 53% came from construction of buildings.

Fortum Tartu's turnover increased
Consolidated turnover of AS Fortum Tartu in 2007 was EEK 193 million and income before income tax EEK 16 million. Company's consolidated turnover in 2006 was EEK 158 million and income before income tax EEK 18 million. For this year's consolidated turnover company predicts EEK 239 million and EEK 33 million income before income tax.

SEB Eesti Ühispank earned EEK 2 billion profit
Last year SEB Eesti Ühispank earned more than EEK 2 billion net profit; half of profit growth came from SEB's real estate sale in the Baltic countries. Profit grew 47% compared to year 2006. Without property deals profit grew 23%. SEB's board president Ahti Asmann commented economic results by saying that he is satisfied with improvement of bank's ROE and increase in customer base. Analyst Erki Kert from LHV Baltic said that SEB's results were as expected.

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