Video
"I am convinced that the success of energy companies of the future is ensured by their capability to exceed customers' expectations and keep up with the changing environment -energy production must become increasingly cleaner."
Hando Sutter
Chairman of the Management Board, Eesti Energia
Our business lines
We are a versatile and broad-based energy company. We produce energy from oil shale, wind, sun, municipal waste, old tyres, woodchips and water, and sell energy in several countries around the Baltic Sea.
Customer services
We strive to be an energy partner that creates value for the customer by offering complete contemporary solutions in all the markets where we operate.
Year 2017
- We grew from a Baltic electricity seller into an energy seller of the Baltic Sea region - we now sell electricity and gas in Estonia, Latvia, Lithuania, as well as in Poland.
- We established energy selling companies also in Finland and Sweden.
Large-scale Energy Production
This business line comprises our oil shale mines, conventional power plants, oil plants, and associated asset management.
Year 2017
- We implemented a device that improves the quality of our oil shale petrol.
- We extracted 10 million tonnes of oil shale, setting a new production record at our Estonia mine.
Renewable energy
Our renewable energy company Enefit Green has the most diverse renewables portfolio in the Baltic Sea region.
Year 2017
- We built a strategy for the future of renewable energy.
- We established our first solar power plant in Järva County.
Network services
Besides electricity distribution, the group's distribution network operator Elektrilevi can competitively offer other services, which need the same infrastructure, for example street lighting, telecommunications or electric car charging services.
Year 2017
- We lowered the price of our electricity distribution service by 9%.
- We expanded our street lighting services from Tallinn to Tartu.
Developments
In the developments business line we develop major projects, which have the strongest influence on Eesti Energia group's five-year results.
Year 2017
- We reached the financial close for our 2.1 billion dollar oil shale project in in Jordan.
- We signed the first contracts for selling energy to energy-intensive companies in the group's technology parks.
Production
We are an energy company with very diverse production sources. We produce energy from oil shale and different renewable sources: wind, water, old tyres, municipal waste, woodchips and sunlight. Our production units are mainly located in Estonia.
Energy Sales
From 2017, we sell electricity and natural gas in the retail markets of four countries: Estonia, Latvia, Lithuania and Poland. In Estonia, we serve both household and corporate customers, in other countries we currently focus on corporate customers. In the first half of 2018, we are planning to launch retail sales of electricity to household customers in Finland and Sweden. In Sweden, we are also going to provide services to corporate customers.
Financial results
Eesti Energia's revenue for 2017 increased by 2% compared to 2016 but EBITDA and net profit decreased. The Group's revenue for 2017 reached 753.9 million euros. EBITDA decreased by 19.3% to 264.2 million euros (-63.1 million euros).
Revenue
753,9
million euros
+11,8 million euros
+1,6%
EBITDA
264,2
million euros
-63,1 million euros
-19,3%
Net Profit
100,8
million euros
-70,2 million euros
-41,1%
Capital Expenditures
144,0
million euros
+3,3 million euros
+2,4%
Credit Ratings
BBB
S&P
Baa3
Moody's
Distribution sales volume
6,8
TWh
+0,1 TWh
+2,1%
Electricity sales volume
9,4
TWh
+0,4 TWh
+4,6%
Shale Oil sales volume
370,2
tuhat t
+68,4 th tonnes
+22,6%
We care for our customers
Daily contact with the end-users of our products and services sets high goals to our customer service. Customers can communicate with us both by phone and e-mail. We are planning to offer the convenient self-service solution that is currently available in Estonia and works on different smart devices in our other markets as well. Contemporary e-services will first reach our customers in Finland, Sweden and Latvia, and then in Lithuania and Poland.
We care about the environment
Energy producers try hard to make their production operations more environmentally friendly and use more renewable sources. Eesti Energia has set itself the same strategic goals. In the framework of the Environmental Deed 2017 contest, the Ministry of the Environment named Eesti Energia's production processes as the most environmentally friendly in Estonia. We received recognition for building an underground sediment pool to the Estonia mine and finding opportunities for using the by-product of large-scale energy production - oil shale ash - in agriculture and road construction.
We give back to society
We follow the principles of responsible entrepreneurship in our daily work. We contribute to society, we make sure that our production processes are as environmentally friendly as possible, and we invest in our employees and the next generation. We believe that the best results are achieved together, which is why we treat our employees, customers, business partners and other groups of society with respect. We focus on education and innovation in the field of energy, so that there would always be motivated professionals and developers of the field.
Our people
Eesti Energia is a diverse organisation - our 5800 employees include Estonians, Russians, Ukrainians, Latvians, Lithuanians, Poles, Finns, Swedes, as well as the representatives of other nations. It is important for us that our people find it safe, professionally interesting and pleasant to work in Eesti Energia group. We pay a lot of attention to developing our managers with whom we achieve Eesti Energia's ambitious strategic goals.
We recognize and acknowledge
Our employees are united by a wish and opportunity to do their work knowing that it contributes to the success of Eesti Energia. At the end of each financial year we recognise our best employees, based on results and values, and choose together the employees, the deed, the engineering solution and the digital solution of the year.
- DEED OF THE YEAR 2017: efficient work organization at the Estonia mine under the conditions of changing oil shale consumption volumes
- ENGINEERING SOLUTION OF THE YEAR: complex solution for purifying oil shale petrol
- DIGITAL SOLUTION OF THE YEAR: "Balance & Efficiency", project by which we improved our power plant's efficiency factors
- SPECIAL AWARD: leadership development activities
