Iseteenindus

Annual Report 2021

On the journey to zero together with customers

Eesti Energia is the leader in creating new, smart and clean energy solutions.

Read our 2021 financial report and find out how we succeeded together with our customers in fulfilling the ambition of making the world a cleaner place.

Annual report (PDF)  

Address by Hando Sutter

A sufficient amount of green electricity provided to customers creates the precondition for electrification and achieving carbon neutrality. We help customers plan and implement the green transition.

Hando Sutter

Chairman of the Management Board of Eesti Energia


Read more (PDF)

CUSTOMERS' EXPECTATIONS

Customers want a compact and simple solution for all their energy needs from a professional and reliable service provider. Customers expect convenient and smart solutions that allow them to profitably manage their energy consumption or to produce their own energy. The expectation of responsibility is becoming increasingly decisive – customers prefer companies that produce energy from renewable sources, help customers produce their own renewable energy or consume energy in a more environmentally friendly way.

OWNER'S EXPECTATIONS

Our sole owner, the Republic of Estonia, expects profitability and stable dividend income from our company. In doing so, the share of electricity from renewable sources also in steerable electricity production must gradually increase, helping to maintain security of supply. The owner expects us to add further value to oil shale in accordance with the climate policy and to implement Ida-Virumaa's labour resources. The distribution network service is expected to gradually improve network reliability in a way that does not overburden the consumer's wallet.

AMBITION

Our ambition is to provide customers with beneficial and convenient energy solutions as well as to produce energy in an increasingly environmentally friendly way, thus contributing to making the world a cleaner place.

The journey of Eesti Energia in 2021

  • We make sure that there is enough renewable electricity
  • We help customers plan and implement the green revolution
  • Smart energy use saves money and the environment
  • Network solutions help implement the energy revolution
  • Read more (PDF)

    Sustainable and responsible tomorrow

  • The renewable energy growth plan reduces CO2 intensity
  • The role of alternative fuels in steerable power plants is growing
  • We are preparing for the transition to the chemical industry
  • We will achieve carbon neutrality by 2045
  • Read more (PDF)

    Strategy

  • Sufficient amount of affordable electricity with a small environmental footprint
  • Customers' expectations and owner's expectations
  • The three pillars of Eesti Energia's green revolution
  • Read more (PDF)

    Operating environment

  • Electricity prices on the Nord Pool power exchange rose to record highs
  • The price of electricity in the Baltics was mostly affected by natural gas and CO2 prices that increased multifold
  • World market prices for petroleum products have recovered from the 2020 crisis
  • Read more (PDF)

    Financial results

    We earned EUR 318 million in EBITDA and EUR 111 million in net profit with a sales revenue of EUR 1.3 million in 2021.

    SALES REVENUE

    € 1,31 billion

    EBITDA

    € 317,6 million

    NET PROFIT

    € 111,5 million


    INVESTMENTS

    € 251,6 million

    CREDIT RATINGS

    BBB- S&P

    (negative outlook)

    Baa3 Moody's

    (stable outlook)


    SALES VOLUME OF NETWORK SERVICES

    7,2 TWh

    SALES VOLUME OF ELECTRICITY

    9,4 TWh

    SALES VOLUME OF LIQUID FUELS

    420 thousand t

    Related topics

    About the company

    We create energy solutions ranging from electricity, heat and fuel production to sales, customer service and additional energy related services

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    Contacts

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    Contacts

    Management and structure

    Our ambition is to be a role model for all other Estonian companies

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