Eesti Energia supervisory board approves group's financial results

Eesti Energia's supervisory board has approved the group's audited financial results for the financial year 2008/09. As of today, the Eesti Energia Group's financial report is available on the company website. According to the audit performed by PricewaterhouseCoopers, the operating income for Eesti Energia Group in the 2008/09 financial year ended in March was 677 million EUR, the operating profit was 103 million EUR and net profit was 88 million EUR. The group's investments made up 226 million EUR in the financial year ended. Increased export revenue and savings on expenses influenced the financial results in a positive direction, while the drop in the amounts of electrical energy sold domestically in the second half of the financial year had a negative impact on the figures. Among the most important events of the Eesti Energia financial year was the decrease in grid losses to 9.5% and the achievement of a 5% share of the electricity market in Latvia. Last financial year, a 100 million EUR agreement was signed for the installation of desulphurization equipment on four units of Narva Power Plants – the third largest investment ever into the Estonian energy sector. The success in producing liquid fuels from oil shale was also noteworthy, with a total of 1 million barrels of shale oil produced. For more detailed figures and key events in Eesti Energia's financial year 2008/09, see the group's annual report
Marina Bachmann
press officer
Eesti Energia AS
Tel: 71 51 218
GSM: 56 456 600
[email protected]