Observer Eesti Oü

WEEK 19/2009

Friday, 8th of May

Peat can be turned into money also at difficult times
Estonian peat producers admit that the economic crunch has had little or no effect on them - export markets still exist and the companies are planning to expand. In 2008, four Estonian peat producers - Eesti Turbatooted, Biolan Baltic, Farve and Nurme Turvas - grew both turnover and profit.
Äripäev, 08.05.2009, Kaisa Tahlfeld

If's profit up by fifth in 1Q
In first three months of this year If Eesti Kindlustus collected insurance payments in value of EEK 281 mln, which is 14% less than in 1Q of 2008. If's 1Q profit amounted to EEK 91 mln, which means a growth of 19% in a year, the company reported. According to If Eesti Kindlustus CEO Andres Sooniste the positive result of If's 1Q was greatly due to investments for improving efficiency.

Thursday, 7th of May

DSV satisfied with smaller profit
DSV Transport is satisfied with the last year year results: although the company hoped for a slightly bigger profit in the beginning of the year, the company is satisfied with the result nevertheless, considering the overall economic situation. In 2008 the company earned a turnover of EEK 765 mln, which was 2% more than in 2007. Profit reached EEK 35 mln. The company promises to end also 2009 in a profit.

People to deposit their savings more
At difficult times it is complicated to save, but saving is necessary. So have, according to the Bank of Estonia, the deposits of private persons grown a little in Estonia - in March people deposited 6% more money on their accounts than same time last year.

Tallinn's Port earned profit
In 2008 the Port of Tallinn (AS Tallinna Lennujam) earned a profit of EEK
16.6 mln.

Wednesday, the 6th of May

Turnover of cigarette vendor increased a little
In 1Q of 2009 AS Eugesta received a profit of EEK 0.2 mln by the turnover of EEK 138 mln. A year ago the company, which previous name was Tobaccoland Eesti AS, had a profit of EEK 1.4 mln by the turnover of EEK 131 mln.

Nordea's leasing company to grow market share
The 1Q turnover of AS Nordea Finance reached EEk 35.6 mln and profit amounted to EEK 16.8 mln. The corresponding numbers in 1Q of 2008 were EEK 37.2 mln and EEK 20.9 mln. "The decrease in profit was mainly due to significant increase in credit losses and provisions," the company's CE Silver Kuus explained. According to the credit portfolio of AS Nordea Finance Estonia the market share of the company has grown to 16.8% by the end of 1Q, having grown 2.3% within a year, Kuus commented.

Monday, the 4th of May

Successful Tallinn Water earned a profit of nearly EEK 100 mln
The sales revenue of AS Tallinna Vesi increased last year 6.6% to EEK 192.8 mln. The company's net profit grew to EEK 98.4 mln and the amount of investments reached in 1Q 41.7 mln.
Eesti Päevaleht

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