{"id":1905,"date":"2017-05-25T14:05:28","date_gmt":"2017-05-25T11:05:28","guid":{"rendered":"https:\/\/tvh.ee\/transpordi-varahalduse-esimene-majandusaasta-loppes-kasumlikult\/"},"modified":"2023-12-11T13:34:29","modified_gmt":"2023-12-11T11:34:29","slug":"the-first-financial-year-for-transpordi-varahaldus-ends-in-profit","status":"publish","type":"post","link":"https:\/\/tvh.ee\/en\/the-first-financial-year-for-transpordi-varahaldus-ends-in-profit\/","title":{"rendered":"The first financial year for TVH ends in profit"},"content":{"rendered":"<p>At the May 25, 2017 annual general meeting of shareholders of O\u00dc Transpordi Varahaldus (TVH) Kadri Simson, Estonian Minister of Economic Affairs and Infrastructure, approved the state company\u2019s first annual report, which indicates the Company\u2019s turnover for the 2015\u20132016 accounting year as 3,177 million euros and the net profit as 3,092 million euros.<\/p>\n<p>TVH\u2019s first commercial profit was 1,908 million euros and financial income 1,184 million euros. The first annual report of the Company in the state\u2019s sole ownership was audited by AS Deloitte Audit Eesti.<\/p>\n<p><em>\u201cThe source of the financial income was the value increase of the repair reserve resulting from strengthening of the dollar against the euro,\u201d explained<\/em> TVH Board Member Ergo Blumfeldt.<\/p>\n<p>Blumfeldt added that the Company commenced its economic activity by acquiring from Export Development Canada, a Canadian export agency, a loan agreement and related collateral for three CRJ900 type aircraft. In August 2016 TVH acquired another CRJ900 aircraft. The long-term lessee of all TVH\u2019s aircraft is Estonia\u2019s national airline AS Nordic Aviation Group (Nordica).<\/p>\n<p>Blumfeldt says that this financial year TVH is planning to acquire and rent out two additional Bombardier CRJ900 type aircraft and so as to finance the transaction has issued 25 million euros worth of bonds subscribed for by AS LHV Pank and funds administered by LHV. In the 2017 financial year TVH is aiming for a turnover of approximately 7 million euros.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>At the May 25, 2017 annual general meeting of shareholders of O\u00dc Transpordi Varahaldus (TVH) Kadri Simson, Estonian Minister of Economic Affairs and Infrastructure, approved the state company\u2019s first annual report, which indicates the Company\u2019s turnover&#8230;<\/p>\n","protected":false},"author":1,"featured_media":1691,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[],"class_list":["post-1905","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The first financial year for TVH ends in profit - Transpordi Varahaldus<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tvh.ee\/en\/the-first-financial-year-for-transpordi-varahaldus-ends-in-profit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The first financial year for TVH ends in profit - 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