AS Tallinna Vesi Supervisory Council confirmed 201

The Supervisory Council of AS Tallinna Vesi approved the audited financial results for the year 2016. The financial results remained unchanged compared to the preliminary disclosure on 27^th of January 2017.

AS Tallinna Vesi’s 2016 total sales were EUR 58,98 million, showing an increase by 5.5% or EUR 3.05 million year on year. Sales from water and wastewater services increased 1.8% or EUR 0.90 million, amounting to EUR 50.20 million. Sales of construction, design and asphalting services were EUR 4.51 million, increasing by 65.6% or EUR 1.79 million year on year.

AS Tallinna Vesi’s 2016 operating profit was EUR 24.63 million, decreasing by 3.7% or by 0.95 million euros compared to 2015. Increase in total sales and savings in chemicals costs are balanced by increase in other direct production and salary costs, higher construction and asphalting services related costs and continuously high legal costs related to the tariff disputes.

Audited financial results for the year 2016 have been included as an attachment to current announcement.

         Riina Käi          AS Tallinna Vesi          Chief Financial Officer          Ph: (+372) 62 62 262          riina.kai@tvesi.ee