Swedbank is the most valuable company in Estonia

The investment bank Gild Corporate Finance has ranked Swedbank as the most valuable company in Estonia ahead of the national power utility Eesti Energia and telecoms company Eesti Telekom.
Gild ranked 100 largest Estonian companies on the basis of their estimated market value as of the beginning of this year, putting Swedbank’s value at 22.6 billion kroons (EUR 1.44 b), Eesti Energia’s at 18.6 billion and Eesti Telekom’s at 12.8 billion kroons.
The Gild scoreboard has reached its fifth edition. Last year’s list had Eesti Energia at the top, followed by Swedbank.
SEB bank, port operator Tallinna Sadam, shipper Tallink Grupp, industrial group BLRT, telecoms company Elisa Eesti, security services provider G4S Baltics and water company Tallinna Vesi rounded out the top 10.
Gild said the purpose of the scoreboard is to provide a current evaluation of the worth of Estonia’s largest companies, on the one hand, and track developments in the Estonian economy through changes in rankings and values, on the other.

Source: Estonian Review

Producer price indices increased in September

According to Statistics Estonia, in September 2010 the producer price index of industrial output increased by 0.4 % compared to August and by 4.8% compared to September of the previous year.

In September compared to the previous month, the producer price index was more than average influenced by the increase in prices in the production of wood and wood products. Compared to September 2009, prices increased the most in the production of wood and wood products and in the production of metal products.

Change in the producer price index of industrial output by economic activity, September 2010

Economic activity	Aug 2010 – Sept 2010, %	Sept 2009 – Sept 2010, %
TOTAL	0.4	4.8
Energy supply	0.1	4.2
Mining	0.6	0.9
Manufacturing	0.4	5.1

In September 2010 the export price index increased by 0.7% compared to August 2010 and by 8.2% compared to September of the previous year.

In September compared to the previous month, the export price index was more than average influenced by the increase in prices in forestry, in the manufacture of wood and wood products, in the extraction of peat and in the manufacture of chemical and metal products.

In September 2010 the import price index increased by 0.4% compared to August 2010 and by 8.3% compared to September of the previous year.

In September compared to the previous month, the import price index was more than average influenced by the increase in the prices of agricultural products and chemical products and by the decrease in the prices of mineral fuels and wearing apparel.

Source: Statistics Estonia

Construction price index is showing the signs of growth

According to Statistics Estonia, the construction price index fell 0.9% in the 3rd quarter of 2010 compared to the 3rd quarter of the previous year. Compared to the 2nd quarter of 2010, the construction price index increased 1.2%.

The construction price index decreased for the seventh quarter in succession, though the decrease has slowed down. The construction price index started to decrease at the beginning of 2009 compared to the same quarter of the previous year, this year, the decrease has decelerated quarter by quarter — in the 1st quarter of 2010 the decline was 7.1%, in the 2nd quarter 3.4%.

Compared to the previous quarter, the construction price index increased last in the 3rd quarter of 2008. After that the construction price index decreased for seven quarters in succession until the increase in the 3rd quarter.

Construction Price Index, 1st Q 2008 – 3rd Q 2010

In the 3rd quarter of 2010 compared to the 3rd quarter of 2009, the construction price index was mainly influenced by the 3.3% decrease in labour costs. The sole prices that have grown are the hourly prices of building machines compared to the same quarter of the previous year. The prices of building materials have remained on the same level as in the same quarter of the previous year.

Compared to the 2nd quarter of 2010, the prices of labour force, building machines as well as building materials increased.

The repair and reconstruction work price index also went up by 1.1% compared to the 2nd quarter of 2010 and fell by 1.2% compared to the 3rd quarter of 2009.

The calculation of the construction price index covers four groups of buildings — detached houses, blocks of flats, industrial buildings and office buildings as well as office buildings covered by the repair and reconstruction work price index. The index expresses the change in the expenditures on construction taking into consideration the price changes of basic inputs (labour force, building materials and building machines).

Change in the construction price index, 3rd quarter 2010

	2nd Q 2010 – 3rd Q 2010, %	3rd Q 2009 – 3rd Q 2010, %
TOTAL	1.2	-0.9
labour force	1.6	-3.3
building machines	1.8	1.0
building materials	0.9	-0.1
Index of detached houses	0.9	-0.9
Index of blocks of flats	1.2	-0.9
Index of industrial buildings	1.3	-0.7
Index of office buildings	1.2	-1.0

 

Change in the repair and reconstruction work price index, 3rd quarter 2010

	2nd q 2010 – 3rd q 2010, %	3rd q 2009 – 3rd q 2010, %
TOTAL	1.1	-1.2
labour force	1.7	-2.8
building machines	1.9	2.1
building materials	0.8	-0.8

Source: Statistics Estonia