Card maker Trub Baltic sees profit soar 82 pct in 2008

The profit of the bankcard, ID card and driver’s license maker Trub Baltic surged 82% year on year in 2008, reaching 11.2 million kroons (EUR 0.72 mln).
Sales revenue, at close to 78 million kroons, marks a year-on-year growth of 7.8%, the company’s annual report shows.
Trub described the results as excellent, singling out its success in [...]

Water company Tallinna Vesi profit margin 66 pct!

Even most optimistic analysts were surprised about third-quarter results of  Tallinn’s main water company Tallinna Vesi.
The company that is co-owned by City of Tallinn reported that its net profit for the third quarter was 102.3 million kroons or 15% more than a year earlier, writes Äripäev.
This is the company’s best-ever quarterly profit. In the first [...]

Estonia’s VKG to launch new oil shale plant

The northeast Estonia-based Viru Keemia Grupp (Viru Chemical Group, VKG) that focuses on the production of oil shale will soon launch a new plant that cost 1.1 billion kroons (EUR 70 mln) and has an annual capacity of 0.9 million tons of shale oil.
Development director of VKG Jaanus Purga said the construction has so far [...]

Eesti Energia has highest market value among Estonian companies

The weekly Eesti Ekspress has published a list of 100 Estonian companies of the highest market value drawn up by Gild Bankers, with the Eesti Energia power utility at the top.
The Gild list puts Eesti Energia’s market value at 7.4 billion kroons (EUR 473 mln), 26% higher than last year.
On year, the total market value [...]

Harvesting period is timely this year

According to Statistics Estonia, by 15 September, 81% of the sown area of cereals, 21% of the sown area of rape and turnip rape, and 42% of the area under potatoes had been harvested.

Compared to the previous year when climate conditions were extremely unfavourable during harvesting period, the harvesting period is timely this year and [...]

Glamox to move its factory from Norway to Estonia

Norwegian industry group  Glamox will close one of four offices in its home country and will move production to Keila, Äripäev reports.
Lighting producer Glamox HE will create 15 new jobs. 
The move will help Glamox to save money and increase productivity.
“The production volume will increase by about 1/3. We’ve done earlier preparations since we lacked room [...]

Silmet 1.4 mEUR profit last year

The Estonian rare-earth metals producer AS Silmet made a profit of 22.4 million kroons (EUR 1.4 mln) last year; in 2007 the company made a loss of 3.6 million kroons.
On the basis of Silmet’s 2008 financial year report the company’s operating profit was 33.3 million kroons last year; the year before the operating loss was [...]

Net sales of enterprises decreased by nearly a fourth

According to Statistics Estonia, the net sales of the business sector amounted to 130 billion kroons in the 2nd quarter of 2009 which at current prices was 23% less than in the 2nd quarter of the previous year.

Compared to the 2nd quarter of the previous year, the net sales decreased in all economic activities except [...]

Pakterminal’s value in 2008 transaction was 39 mEUR

The value of the Estonian oil transit company AS Pakterminal and its parent firm in the 2008 share swap transaction by which the companies went into the hands of Vopak E.O.S. was 616 million kroons (EUR 39.36 mln), it appears from the annual report of Vopak E.O.S.
Vopak E.O.S. issued new shares for the acquisition of [...]

Estonia pianos among top ten in the world

Estonia pianos constructed in Tallinn have risen to among the top ten pianos in the world thanks to their technical attributes and quality, reports America’s authoritative ranking of pianos, Larry Fine’s “Piano Book”.
Piano technician and consultant Fine, in his most recent publication, ranks Estonia in the same position as Steinway pianos made in New York. [...]