In the 2nd quarter of 2018, the Group’s total sales increased by 8.5% to EUR 15.98 million. Group’s gross profit was EUR 8.90 million, showing an increase of 4.3% year-on-year.
The Group’s net profit for the 2nd quarter of 2018 was EUR 5.47 million, being 28.3% higher than in the 2nd quarter of 2017. The profit was mainly impacted by lower income tax costs, related to a reduced dividend payment. This was further supported by higher sales. Besides water and wastewater services, there was a significant growth in the sales of construction, design and asphalting services.
The biggest rise in costs in the 2nd quarter was related to construction and asphalting services as well as staff and asset maintenance costs, which were offset by lower eclectricity costs and depreciation.
The operating profit for the 2nd quarter was EUR 7.54 million, showing an increase of 4.9% or EUR 0.36 million.
Tallinna Vesi is still awaiting the final verdict from the International Arbitration.
Eliis Vennik
Head of Communications
Tallinna Vesi
(+372) 626 2275
Eliis.vennik@tvesi.ee