Slides
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Results for the 3rd quarter of 2026 30 October 2026
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Aleksandr Timofejev CEO Member of the Management Board Taavi Gröön CFO Member of the Management Board Presenters
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Highlights of Q3 2026
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Investments into network • We have reconstructed and built 29.8 km´s of pipeline in 9 months, and 36.8% of it was reconstructed by trenchless method. • Ongoing projects: reconstruction of pipelines in Paldiski Rd, Kolde Blvd and Sõle Str; pipeline reconstruction, II phase reconstruction of wastewater pipelines in Mustamäe inner courtyard. Investments into water and wastewater treatment plants: • Reconstruction of secondary sedimentation tanks in wastewater treatment plant. • Reconstruction of suction tank in the main pumping station. • Optimisation of the wastewater treatment process. • Finalisation of ozonation process reconstrcuction procurement in water treatment plant. • The focus of investments is now shifting from wastewater treatment to the upgrading of water treatment processes. Investment projects
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Operations update Tap water quality Leakage rate Average duration of water interruption per property Rehabilitation of networks Effluent Customer satisfaction Q3: 99.4% (2025: 98.0%) Q3: 100% compliant (2025: 100%) Q3: 3.5 of 5 (2025: 4.1 ) Q3: 10.26% (2025: 12.24%) Q3: 1 h 56 m (2025: 2 h 09 m) Q3: 12 km (2025: 11 km)
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Water and wastewater volumes (m³ million) • YTD private customer volumes increased by 0.3% compared to the same period in 2025. • YTD business customer volumes in the main service area increased by 2.9% compared to the same period in 2025. • YTD volumes of customers outside the service area decreased by 5.1% compared to the same period in 2025.
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Water and wastewater revenues (€ million) • YTD sales to private customers in the main service area increased by 9.4% to €25.6 million compared to the same period in 2025. • YTD sales to business customers decreased by 4.7% to €11.9 million compared to the same period in 2025. • YTD sales to customers outside the main service area increased by 7.0% to €6.1 million compared to the same period in 2025.
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Total costs of goods sold Q3 2026 (€ million) • Total direct production costs rose by 7.6% (€0.2 million) compared to the same period in 2025. • Staff costs increased by 6.6%. • Depreciation increased by 0.6% • Construction services costs decreased by €0.5 million, reflecting a similar decrease in construction revenue. Direct production costs
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Financial highlights Q3 2026 (€ million) • Total sales revenue increased by 0.8% to €18.3 million in Q3 2026 compared to Q3 2025. • Cost of goods and services sold totalled €10.6 million in Q3 2026, up 2.6% compared to Q3 2025. • Administrative and marketing expenses increased by 17.9% compared with the same period in 2025. • Net profit in Q3 2026 was €4.0 million, representing a decrease of €1.0 million compared to Q3 2025.
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• Compared to the end of the previous quarter, the cash balance decreased by €2.6 million, as investing activities exceeded the positive operating cash flow generated during the quarter. • Investing activities reduced the cash balance by €16.4 million. Tangible assets amounted to €361.2 million, representing an increase of €12.7 million. • In the 3rd quarter financing activities resulted in a net cash inflow of €4.8 million, reflecting loan proceeds received during the quarter. Cash position
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Investments • Investments capitalised on the balance sheet totalled to €16.38 million in Q3 2026. • An estimated 80% of 2026 YTD investments will be included in the Regulated Asset Base (RAB). • The RAB is reviewed as a part of the price approval process. • Stormwater network development is financed by the City of Tallinn; customer connections are financed through connection fees.
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Operational questions Aleksandr Timofejev CEO Member of the Management Board IR & financial questions Taavi Gröön CFO Member of the Management Board Q&A session
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