Tallinna Vesi Reports Strong Q3 Results and Investments
Tallinna Vesi's Third Quarter Financial Performance
AS Tallinna Vesi has reported impressive sales of €16.22 million for the third quarter, a significant increase of 3.9% compared to the same period last year. The company recorded a net profit of €3.93 million, although it represented a slight decline due to rising interest costs. Chief Executive Officer, Aleksandr Timofejev, emphasized that the third quarter was a busy period for planned investments, primarily during the summer months, which are essential for minimizing disruption to residents.
Investment Plans and Infrastructure Developments
In 2024, Tallinna Vesi has earmarked over €60 million for capital expenditure, with projects set to continue into 2025. So far, the company has completed investments amounting to €33.4 million this year, focusing on sustainable and cost-effective solutions to enhance the city's water services. Timofejev highlighted the implementation of environmentally friendly no-dig methods to carry out infrastructure work.
Quality Assurance in Water Supply
Maintaining the quality of drinking water remains a priority for the company. The summer months kept the waters around Lake Ülemiste warm, complicating efforts to ensure optimal water quality. Throughout the quarter, Tallinna Vesi conducted over 700 water samples, with tap water meeting 98.9% of quality requirements. This success stems from rigorous monitoring and timely investments in treatment processes.
Efficiency in Wastewater Treatment
The company's wastewater treatment processes have also demonstrated excellence, with all treated effluent meeting legal standards prior to discharge into the Baltic Sea. In Q3 alone, Tallinna Vesi processed 7.04 million cubic meters of drinking water, while treating nearly 11.11 million cubic meters of wastewater. The positive environmental impact of their services continues to be a key focus, supported by necessary price adjustments to maintain sustainable operations.
Customer Communication and Service Improvements
Tallinna Vesi has made strides in their customer service protocols, notably informing residents of unanticipated water interruptions at least one hour in advance. In the third quarter, the average duration of interruptions was reduced to 2 hours and 36 minutes, representing a significant improvement. The company also aims to install additional isolation valves in the network to further mitigate disruption.
Recognition and Community Involvement
In addition to focusing on operational improvements, Tallinna Vesi has engaged actively with the community. Throughout the summer, nearly 60 public water taps were made available in Tallinn, providing fresh drinking water during community and sporting events like the Investment Festival and Ironman Tallinn. The company actively supported local athletes during the Paralympic Games, showcasing its commitment to community welfare.
Innovative Water Management Technologies
The introduction of an effective ice pigging technology for pipeline maintenance has also been a significant highlight this year. This method, utilizing a chilled saline solution, has allowed Tallinna Vesi to clean nearly 250 km of the water pipeline, ensuring ongoing quality in water delivery. Additionally, investments in water pumping stations enhance the reliability and safety of drinking water via secondary chlorination measures.
Future Outlook and Goals
By the end of 2024, Tallinna Vesi strives to achieve 60% smart meter installations among its customers, with a goal of universal smart meter adoption by 2026. This initiative aims to enhance service reliability, while continued investments in infrastructure are projected to advance the quality of both water supply and wastewater treatment services.
Frequently Asked Questions
What were the sales figures for Tallinna Vesi in the third quarter?
Tallinna Vesi reported sales of €16.22 million, a 3.9% increase from the previous year.
What is the net profit for Tallinna Vesi?
The company recorded a net profit of €3.93 million for the quarter, which includes a small decrease due to rising interest costs.
How is Tallinna Vesi improving its water quality?
Tallinna Vesi maintains high-quality drinking water by conducting extensive sampling and monitoring, ensuring compliance with quality standards.
What community initiatives is Tallinna Vesi involved in?
The company provides public drinking water taps during community events and supports local sports initiatives, reflecting its commitment to community welfare.
What technologies is Tallinna Vesi using for infrastructure maintenance?
The innovative ice pigging technology is used to maintain pipelines effectively, ensuring high-quality water delivery while reducing disruptions.
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