Company briefs - 2010-08-05

The Nord Pool Spot Estlink area was launched in Estonia on April 1 this year, offering a market place for trading electrical energy on the day-ahead market Elspot, and Estonian price area has reached 1 TWh, NordPool Spot reports. The average daily volume by month has been as follows: April: - 4.5 GWh per day; May: 5.6 GWh per day; June: 11.9 GWh per day; July: 14.1 GWh per day. On July 25, the total Estlink volume reached 1 TWh after less than four months of operation. Proven transparency and liquidity have been rewarded with fast increasing volumes, says Siw Hauge, director of communications.

Lithuania’s refrigerator producer Snaige reported consolidated revenues of 47.2 million litas (13.6 million euros) in the first half of this year, showing an unaudited net loss of 1.1 million litas, reports LETA. General Director Gediminas Ceika pointed out that the company managed to survive the harshest years of the economic downturn: “The manufacturing and managerial optimization, mobilization of the company’s capacities allowed us not only to survive, but to work stably and to maintain a majority of market share and product demand.” Consolidated unaudited EBITDA for the first quarter 2010 totaled 5.4 million litas, 14.4 million litas more than in the same period last year.

One of Tallinn’s largest hotels, Sokos Hotel Viru, posted record-breaking occupancy in July - 95 percent – reports LETA. The hotel’s rooms were fully occupied for more than 15 days during the month. Overall, the hotel accommodated 30,000 visitors last month, which is 16 percent more than in July 2009. Sokos Hotel Viru is a part of Finnish SOK Group. The hotel has 516 rooms. Average occupancy of hotels was 79 percent in July in Tallinn, approximately 15 percent more than in July 2009.