Estonian state-owned energy company Eesti Energia has reported that operating revenue for the first six months of the financial year 2007/08 grew to E255 million.
The company has reported operating profit of E30 million and net profit of E8 million. Compared to the previous financial year, the results of the first six months were considerably influenced by the extraordinary income from emissions trading having dropped by E66 million and the E18 million paid as income tax on the dividends.
Domestic electricity sales grew by 6% compared to the first six months of the previous financial year, amounting to 3,010GWh. Eesti Energia exported 656GWh of electricity to Finland while export to Latvia increased almost three times compared to the first half of the last year. The sale of heating energy dropped by 69GWh compared to the first six months of last financial year and comprised 370GWh at the end of September.
Margus Kaasik, Eesti Energia’s CFO, said: The positive financial results of the first half year were supported by the growing domestic sales of electricity and the increased export to Finland. The company’s financial results will improve in the second half year and without considering the effects of the emissions trading, the results at the end of the financial year are expected to exceed that of last year.