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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.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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