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Tallinna Vesi (TVE1T) investor relations material

Tallinna Vesi Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary31 Oct, 2025

Executive summary

  • Q3 2025 delivered strong sales and net profit growth, with sales reaching up to €19.4 million and net profit at €4.96 million, supported by price adjustments and major infrastructure investments.

  • Water and wastewater service quality remained high, with tap water compliance at 98% and wastewater effluent at 100%.

  • Smart meter adoption reached nearly 80%, improving efficiency and customer service.

  • Customer satisfaction scored 4.1 out of 5, with improved service metrics and fewer complaints.

  • Investments focused on infrastructure resilience, with €61 million planned for 2025 and major upgrades to treatment facilities.

Financial highlights

  • Q3 2025 sales rose 10.8% year-over-year to €18.17 million, with net profit at €4.96 million and operating profit at €5.95 million.

  • Cost of goods sold increased by 8.8% to €10.3 million, while administrative and marketing expenses rose 5.8%.

  • Gross profit margin for Q3 was 43.26%, and net profit margin was 27.29%.

  • Operating cash flow was €8.1 million; investment outflows were €12.3 million, partly financed by new loans.

  • For the first nine months, sales totaled €53.57 million (+13.4%), with net profit at €9.76 million (+6.9%).

Outlook and guidance

  • Annual investment estimate for 2025 is up to €61 million, with €39 million invested by end of Q3.

  • 84% of investments are expected to impact the regulated asset base.

  • No significant increase in water service sales expected for 2025; next price adjustment and final price equalization for customer segments will occur next year.

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Frequently asked questions

AS Tallinna Vesi is a leading water utility company based in Estonia, primarily engaged in the provision of water supply and wastewater treatment services. The company operates in Tallinn and its surrounding areas, managing two major facilities: the Ülemiste Water Treatment Plant, which purifies and distributes drinking water, and the Paljassaare Wastewater Treatment Plant, responsible for processing sewage and stormwater before releasing it into the Baltic Sea. Additionally, Tallinna Vesi offers various ancillary services, including water and wastewater analysis, and the design and construction of pipeline systems. The company operates through its subsidiary, Watercom OÜ, which focuses on non-core services related to water infrastructure. The company is headquartered in Tallinn, Estonia, and its shares are listed on the Nasdaq Tallinn.

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