Bloomberg News

Eesti Energia 9-Month Operating Profit Falls 2 Percent

October 28, 2011

Oct. 28 (Bloomberg) -- Eesti Energia AS, the biggest Baltic utility, said operating profit in the first nine months of the year declined two percent from a year earlier, citing higher fixed and maintenance spending.

Operating income declined to 118 million euros ($167 million) from 121 million euros, according to a presentation handed out at a news conference in Tallinn. Revenue increased 12 percent to 634 million euros, it added.

The company estimates full-year operating profit at about 150 million euros, largely unchanged from last year, while revenue will exceed last year’s level, Chief Financial Officer Margus Kaasik told the news conference.

--Editor: Chris Peterson

To contact the reporter on this story: Ott Ummelas in Tallinn at oummelas@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net


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