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Estonia's Tallinna Vesi Q3 net profit drops on lower construction revenue

By Reuters News


Overview

  • Estonia water utility's Q3 revenue rose 0.8% yr/yr, driven by higher water service sales

  • Q3 net profit fell 20% yr/yr as margins narrowed

  • Company increased Q3 investments in fixed assets by 13% yr/yr


Outlook

  • Company plans total 2026 investments of €60 mln

  • Company shifting investment focus to modernising water treatment processes

  • Company expects smart meter installation project completion in 2026


Result Drivers

  • PRICE CHANGES - Co said higher water service sales were mainly driven by new prices introduced in July to harmonise rates for private and business customers

  • POLLUTION-BASED PRICING - Co implemented pollution-load-based pricing for wastewater treatment, increasing charges for higher polluters

  • CONSTRUCTION SERVICES DECLINE - Co said revenue from construction services fell yr/yr


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Sales

EUR 18.32 mln

Q3 Net Income

EUR 3.96 mln

Q3 Gross Margin

42.29%

Q3 Operating Income

EUR 5.47 mln

Q3 Operating Income Margin

29.85%

Q3 Pretax Profit

EUR 4.09 mln


Reuters Recommended Reads

  • Oct 29 - California Water Service Q3 revenue rises on rate hikes, customer growth

  • Oct 29 - Middlesex Water Q3 revenue rises on higher demand, rate increases

  • Oct 29 - Veralto Q3 profit beats slightly estimates on water treatment demand; raises 2026 outlook


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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