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