Tallinna Vesi As Class A · OMXTSE:TVE1T
Tallinna Vesi As Class A — AS Tallinna Vesi — Q1 2026 Earnings Presentation
14 slides from Tallinna Vesi As Class A's earnings presentation, May 8, 2026
Slide 1: Results for the 1st quarter of 2026
Results for the 1st quarter of 2026 8 May 2026
Slide 2: Presenters
Presenters Aleksandr Timofejev Taavi Gröön CEO CFO Member of the Management Board Member of the Management Board
Slide 3: Highlights of the Q1 2026
€17.99 million in sales ‘dL wp O work accidents €4.3 million net profit aa 2,314 MWh CHP energy production ® yas’ €7.86 million investments into assets 100% wastewater effluent quality ) 100% tap water quality 85% of all customers have a smart meter
Slide 4: Investment projects
Investment projects Investments into network • We have reconstructed and built 5 km´s of pipeline in 3 months, and 9.6% of it was reconstructed by trenchless method. • Ongoing projects: Construction of settling pond in North Tallinn, construction of stormwater solution in A. Laikmaa, Maakri Str and
Slide 5: Operations update
Operations update Tap water quality Leakage rate Q1: 100% (2025: 100%) Q1: 15.99% (2025: 15.88%) Effluent Average duration of water interruption Q1: 100% compliant (2025: 100%) per property Q1: 2 h 31 m (2025: 2 h 31 m) Customer satisfaction Rehabilitation of networks Q1: 4.1 out of 5 (2025: 4.1) Q1
Slide 6: Water and wastewater volumes (m³ million)
Water and wastewater volumes (m³ million) 9 • YTD volumes of private 8 8,0 7,9 customers were higher by 0.8%, 1st quarter compared to 2025 Q1. 7 2026 2025 6 • YTD volumes of business customers within the main 5 service area were higher by 4 3.6%, compared to 2025 Q1. 3 2,5 2,4 1,9 2,0 • YTD volumes
Slide 7: Water and wastewater revenues (€ million)
Water and wastewater revenues (€ million) 9 8,3 • YTD sales to private customers in the 8 main service area increased by 14.4% 7,3 1st quarter to €8.3 million, driven by the change in 7 2026 2025 price on 1/05/2025. 6 • YTD sales to business customers 5 4,2 4,2 decreased by 0.2% to €4.2 million, 4 d
Slide 8: Total costs of goods sold Q1 2026 (€ million)
Total costs of goods sold Q1 2026 (€ million) 12 Total direct production costs • Total direct production costs 0,1 0,6 10,4 decreased by 2.7% (€0.1 10 0,2 0,2 9,4 0,01 million) compared with the -0,02 -0,01 -0,01 same period in 2025. 8 • Staff costs increased by 5.3%. 6 • Depreciation increased by 1
Slide 9: Financial highlights Q1 2026 (€ million)
Financial highlights Q1 2026 (€ million) • Total sales revenue increased by 12.4% to €18.0 million. • Cost of goods and services sold totalled €10.4 million in Q1 2026, 10.3% (€1.0 million) higher than in the same period in 2025. • Administrative and marketing expenses increased by 4.4% (€0.1 millio
Slide 10: Cash position
Cash position • Compared with the end of the previous quarter, the cash balance increased by €3.7 million, mainly driven by positive operating cash flow. • Investing activities in Q1 reduced the cash balance by €3.1 million. Tangible assets amounted to €337.9 million, increasing by €0.8 million. • F
Slide 11: Investments
Investments • Investments capitalised on the balance sheet in Q1 totalled €7.86 million. • An estimated 86% of 2026 investments will impact the Regulated Asset Base (RAB). • The RAB is reviewed as part of the price approval process. • Stormwater network development is financed by the City of Tallinn
Slide 12: Dividend payment
Dividend payment 0,57 0,51 0,53 11 400 10 600 0,33 10 200 6 600 2023 2024 2025 2026 Dividend pay-out Dividend per share • On 23/04/2026, the Annual General Meeting of Shareholders approved a dividend of €0.57 per share (80% of 2025 earnings), to be paid on 20/05/2026. • The company's dividend policy
Slide 13: Q&A session
Q&A session Operational questions IR & financial questions Aleksandr Timofejev Taavi Gröön CEO CFO Member of the Management Board Member of the Management Board
Slide 14: Thank you!
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