The Supervisory Council of AS Tallinna Vesi approved the audited financial results for the year 2020. The financial results remained unchanged compared to the preliminary disclosure on 29 January 2021.
The Company’s total sales revenue for 2020 was €51.72 million, showing a decrease of 18.5% or €11.70 million year-on-year. Sales from water services decreased by 19.5% amounting to €45.80 million. Sales of construction services were €5.22 million, decreasing by 12.4%.
AS Tallinna Vesi’s 2020 operating profit was €21.78 million, decreasing by 32.1% or by €10.29 million compared to 2019. The change was mainly impacted by lower water services revenues from main service area because of new tariff valid from 1/12/2019 and lower commercial customer consumption and a positive change in the provision formed for possible third-party claims. Net profit in 2020 was €16.73 million, being 39.7% or €11.03 million lower than in 2019.
Audited financial results for the year 2020 have been included as an attachment to current announcement and can be found on our webpage.