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Estonian Review 25 February - 3 March 2009
06.03.2009
FOREIGN NEWS
DEFENCE NEWS
DOMESTIC NEWS
ECONOMIC NEWS
FOREIGN NEWS
Prime Minister Ansip: European Union Must Be Unified
1 March - Prime Minister Andrus Ansip attended the unofficial meeting of the European Union heads of state and heads of government in Brussels. The main topics under discussion were the financial crisis and its effect on real economy, the implementation of the European Economic Recovery Plan in the member states, opportunities for increasing the employment rate, and the preparations for the G20 Summit of the world's leading industrial and developing countries. Ansip said that in order to quickly overcome the economic crisis, Europe must be unified and strong. There are no different blocs in Europe, said Ansip. The drawing of lines splits the European Union and, in summary, injures everyone's interests. The European Union must act in unison.
The prime minister stressed the need to adhere to the fundamental principles of the domestic market and called on people to avoid protectionism. The adherence to common rules is the prerequisite for the functioning of the domestic market, Ansip stressed. Estonia supports the steps of the European Commission for strengthening the domestic market. Protectionist measures only deepen the crisis and will not help solve it.
Considering the unofficial nature of the summit, conventional conclusions were not made.
Foreign Minister Paet Gives Annual Foreign Policy Address to Riigikogu
26 February - During the annual foreign policy speech in the Riigikogu, Foreign Minister Urmas Paet focused on security-related challenges in international co-operation and Estonia's contributions in such endeavours. Paet emphasised that Estonia's foreign policy activities are based upon the principle of spreading democratic values.
Foreign Minister Paet stated that the UN, OSCE, NATO, and the Council of Europe are organisations founded on democratic principles that have withstood the test of time. The most suitable place for discussing the possible improving of the security architecture is the OSCE, said Paet. Solutions for the problems must be found within the framework of the existing security architecture by maximising its various elements. However, it is essential that participants in the existing security structure adhere to the agreed upon principles, Paet added.
In talking about Estonia's participation in foreign missions, the foreign minister thanked those who participated on Estonia's behalf in the Iraq mission which drew to a close this year. Iraq was the first international operation in which Estonian Defence Forces personnel participated in active peace enforcement. It can only be assumed how many attacks and terrorist actions the activities of the Estonian units in Iraq prevented, as well as how many lives were saved, said Paet. The foreign minister emphasised Estonia's desire to develop co-operation with the United States in Afghanistan as well. In the transfer of Estonian military capabilities from Iraq to Afghanistan, one likely form of co-operation with the Americans would be the formation of a joint Embedded Training Team, noted the Estonian foreign minister.
In his presentation, Paet stated that during this global economic crisis nations must continue co-operating in the name of liberalising trade, avoiding protectionism, and the openness of the economy. Compromises cannot be made at the expense of security. Physical and economic security are two sides of the same coin, Paet emphasised. He noted that Estonia is focusing more attention on economic diplomacy. The role of Estonian embassies in promoting Estonian economic relations abroad has increased in the financial crisis situation. We have made the solving of the concerns of Estonian entrepreneurs - both exporters and investors - our priority, and we believe that we can be of assistance with our knowledge and our advice, he stated.
The foreign minister also gave the members of the Riigikogu an overview of Estonia's contributions to international organisations and development co-operation, the European Union's energy security issues, bilateral co-operation, and protecting the interests of Estonian citizens abroad.
The full text of the foreign minister's speech can be found on the Foreign Ministry's website: http://www.vm.ee/eng/kat_140/10688.html.
Paet Discusses Israel-Palestine Conflict with Egyptian Colleague
1 March - Foreign Minister Urmas Paet and his Egyptian colleague Ahmed Aboul Gheit, during their meeting in Cairo, emphasised how important achieving a strong, lasting and long-term truce agreement is for the resolution of the Israel-Palestine conflict.
Foreign Minister Urmas Paet recognised Egypt's intermediation in finding a resolution to the Israel-Palestine conflict. Egyptian Foreign Minister Gheit stated that the most important thing is to prevent the eruption of more military activity in Gaza.
The Estonian and Egyptian foreign ministers said that the creation of a Palestinian state next to Israel is the primary goal of the peace process. The international community must continue to support the efforts of the Palestinian Authority to create a unified government. This will create better circumstances for continuing the peace process, said Foreign Minister Paet. Tomorrow's conference for Gaza donors will also help to vitalise the Middle East peace process, he added.
Paet stated that Egypt is an attractive and interesting travel destination for Estonians, and that nearly 60 000 Estonians visited the country last year. Considering the number of travellers, we would like to find an honorary consul for the area of Sharm el Shiekh, Paet noted.
Foreign Minister Paet extended an invitation to his Egyptian colleague to visit Estonia.
The ministers agreed that signing an agreement for the protection of investments this year would help to enliven economic relations between the two countries. Reciprocal visits by business delegations would help to advance business relations. We should also look for co-operation opportunities in the information technology and energy sectors, said Paet. The foreign minister added that an agreement has essentially been reached with Egypt for a professor of the Arabic language to begin working at Tallinn University.
Protection of National Minorities a Priority of Government in Estonia
2 March - At his meeting with Knut Vollebaek, the OSCE (Organisation for Security and Co-operation in Europe) High Commissioner on National Minorities, Prime Minister Andrus Ansip said that ensuring the protection of ethnic minorities and promoting their cultures are priorities for the government.
According to the prime minister, the government has adopted two comprehensive integration programmes for the years 2000-2007 and 2008-2013 to act on this priority. According to him, the number of persons of unspecified citizenship has also been decreasing on a constant basis. Although the tempo has slowed down, the state has continuously been looking for new ways to speed it up, said Ansip, stating that the distribution of information about applying for citizenship is now done on a more individual basis and providing information to children and adolescents is a particular focus. Special attention is paid to decreasing the number of children with unspecified citizenship.
As of February 2007, the parents of children with unspecified citizenship are informed when registering the birth of their child that they can apply for Estonian citizenship for their child through a simplified process. At the present moment, the Citizenship and Migration Board has contacted all 275 parents who have had a child with unspecified citizenship and the feedback has been very positive.
According to the prime minister, applying for citizenship is a very important decision for which a person must show some initiative.
Knut Vollebaek, the OSCE High Commissioner on National Minorities, met with Minister of Justice Rein Lang before visiting Stenbock House. Meetings will also be held with the Minister of Population Affairs Urve Palo and Members of the Riigikogu Paul-Eerik Rummo and Mart Nutt. The High Commissioner will also visit East-Viru County, where he will meet with the county governor Riho Breivel and mayor of Narva, Tarmo Tammiste. The Commissioner will also visit the Narva College of the University of Tartu. On Wednesday, the High Commissioner will meet with the Minister of Education and Research Tõnis Lukas and the Minister of Foreign Affairs Urmas Paet, with whom a joint press conference will also be given.
Paet: Economic Crisis Must Not Develop Into Political Crisis
27 February - At a meeting with his Lithuanian and Latvian colleagues Vygaudas Ušackas and Maris Riekstins in Utena, Lithuania, Foreign Minister Urmas Paet emphasised that security-related and economic issues are very closely tied. During this global economic situation, intensifying co-operation between Europe and the United States is very important in order to prevent the protectionist economic policies arising all over the world, stated the Estonian foreign minister.
While talking about the NATO foreign ministers meeting occurring in Brussels next week, the foreign ministers agreed that future co-operation of the Baltic states with the USA will be a main factor in the stabilisation of the situation in Afghanistan. Estonia, Latvia and Lithuania, alongside their European Union partners, can intensify their contributions in this endeavour, said Foreign Minister Paet.
Foreign Minister Urmas Paet stated that the first priority for Estonia is the adoption of the common European currency, the euro. This step would insure our economic stability, but there are also security aspects, noted Paet. This is one tool for fighting against unemployment, making us more attractive to investors because of the stronger euro, Paet added.
The ministers discussed co-operation opportunities in the field of energy, which has become an even more important topic in the light of this year's energy crises. Paet asserted that it is necessary to create a common Baltic energy market with functioning connections by 2013. We also need to further develop the energy bridge between the Baltic nations and Sweden and the Visaginas nuclear plant project. We are satisfied that the European Union economic recovery plan includes support for strengthening energy security, stated Foreign Minister Paet. Currently the next step is to become integrated with the Nordic energy market, he added.
At the invitation of the Lithuanian foreign minister, the foreign ministers also participated in a public debate on the topic Experiences from five years in the European Union and NATO in the Utena Library.
Estonia to Contribute to Achieving Peace in Palestine
2 March - At the Gaza Reconstruction Conference in Sharm el Shiekh, Foreign Minister Urmas Paet emphasised that Estonia remains prepared to contribute to the establishment of a Palestinian state and the restoration of its economic capabilities.
The main topic at the donors' conference is financial support for the reconstruction of Gaza, which is essential for the revival of the Middle East peace process, the creation of a Palestinian state, and the assurance of peaceful co-existence between Israel and Palestine.
At the conference, Foreign Minister Urmas Paet confirmed that Estonia will donate 1.2 million kroons (100 000 USD) to the reconstruction of Gaza. The terrible events that took place at the beginning of the year in Gaza have forced the international community to find opportunities to influence the conflicting parties to sign a truce. Without international help it would not be possible to find a solution, stated the Estonian foreign minister. The primary goal of the peace process remains the creation of a Palestinian state next to Israel. A compromise must be found that will guarantee Israel's security as well as the observance of the Palestinian peoples' political and economic rights, he added.
Paet recognised Egypt and the Arab League's efforts in reaching a domestic reconciliation in Palestine, which creates better circumstances for building up and developing the society of Gaza and West Bank Palestinians.
Resolving humanitarian problems is the priority right now, but it must go hand-in-hand with the political process for achieving lasting peace. The failure of a truce agreement would lead to negative consequences not just for the Middle East, but for the wider international community, Mister Paet noted in his speech.
At the beginning of this year Estonia helped to alleviate the humanitarian situation in the Gaza sector through the United Nations Relief and Works Agency for Palestine (UNRWA) with one million kroons.
91st Anniversary of Estonian Republic Celebrated in Afghanistan
25 February - Estonian workers and Defence Forces members stationed in Kabul were able to celebrate the 91st anniversary of the Republic of Estonia on 24 February. Estonian musician Jaan Tätte gave two concerts in honour of Estonia's 91st Independence Day. These were also the first Estonian music concerts ever to take place in Afghanistan. A delegation from Afghanistan's Parliament and the diplomatic corps also took part in the celebration.
Charge d'affaires of the Estonian Republic Daniel Schaer said that the contribution of Estonian Defence Forces members in Afghanistan to building up the country and stabilising the security situation is very important for both Afghans and Estonians. These concerts are meant to recognise and thank everyone that has contributed to developing the national security of Afghanistan and thereby of Estonia as well, the charge d'affaires stated. Schaer added that the concerts are also a chance to introduce Estonian music in Afghanistan. Guests at the celebration were offered Estonian foods that are different from everyday Afghan fare.
Tätte will perform on 27 February in Camp Bastion for Estonian, Danish and British soldiers serving in Helmand Province. The concerts were made possible by the co-operation of the Foreign Ministry, the Estonian Defence Forces, and the Ministry of Defence.
In previous years, Estonian musicians have performed for Defence Forces members serving in international operation in Bosnia and Herzegovina, Kosovo, and Iraq.
Estonian Ambassador to India Presents Credentials
27 February - Estonian Ambassador to the Republic of India Merike Kokajev presented her credentials to Indian President Pratibha Devisingh Patil. Ambassador Merike Kokajev resides in Estonia.
In the discussion that followed the credential presenting ceremony, the president and ambassador talked about the good relations between Estonia and India. Ambassador Kokajev passed greetings from Estonian President Toomas Hendrik Ilves along to the Indian president, along with an invitation to visit Estonia.
The ambassador and the president agreed that Estonia-India economic and trade relations contain much untapped potential. We should intensify research co-operation and also find opportunities to enliven business contacts, stated Ambassador Merike Kokajev. She added that Estonian honorary consuls in India have played an important role in developing bilateral relations.
They also addressed opportunities for further developing tourism. India is an attractive and interesting vacation destination for Estonians, the ambassador remarked.
Merike Kokajev was born in 1956 in Tartu and graduated from Leningrad State University with a degree in French language and literature. Kokajev has worked for the Ministry of Foreign Affairs since 1991. Ambassador Kokajev has worked in the protocol department, the embassy in Brussels, and Estonia's permanent representations in Geneva and the UN. From 2005-2007, Kokajev was a member of the UN Permanent Forum on Indigenous Issues. Kokajev speaks English, Russian and French.
President of the Republic Accepts Credentials from Ambassador of Kazakhstan
27 February - President Toomas Hendrik Ilves met with the Ambassador of Kazakhstan to Estonia, Galymzhan Koishybayev, who presented his authorisation documents to the head of state.
President Ilves and Ambassador Koishybayev emphasised the good relations between Estonia and Kazakhstan and discussed opportunities for extending the development of economic relations, including the co-operation between companies in the field of transit. The President of the Republic stressed the importance of the construction of the Trans-Caspian gas pipeline, which will enable Central Asian gas to be exported to Europe via the Nabucco gas pipeline.
President Ilves also confirmed Estonia's willingness to share its experience with Kazakhstan in the fields of IT and e-government.
Kazakh Ambassador Galymzhan Koishybayev resides in Vilnius.
DOMESTIC NEWS
New Stamp in Estonian Heads of State Series Produced
25 February - On 26 February, Eesti Post and the State Chancellery presented the postage stamp dedicated to the Head of State Ants Piip, which is the second stamp in the series Heads of state of the Republic of Estonia 1918-2018. In the course of the Heads of state of the Republic of Estonia 1918-2018 series, by the 100th anniversary of the Republic of Estonia, postage stamps will have been issued for all Estonian heads of state in the first century of independence.
Ants Piip was prime minister from 26 October 1920 - 20 December 1920 and head of state from 20 December 1920 - 25 January 1921. This week, 125 years will have passed from the birth of Ants Piip. In addition to the postage stamp, the anniversary will also be celebrated at Maarjamäe Castle and Tartu City Museum with exhibitions and various events.
The Ants Piip postage stamp, with a face value of EEK 5.50, has been printed at the printing house Vaba Maa and the circulation is 100 000. The postage stamp has been designed by the artist Lembit Lõhmus.
Eesti Post together with the State Chancellery presented the new Ants Piip postage stamp on Thursday, 26 February. The event was opened by Prime Minister Andrus Ansip.
The postage stamp can be seen at http://www.post.ee/px_custom/product_img/img_7786.jpg
DEFENCE NEWS
Ilves: Baltic Defence College Increases Stability Across Europe
27 February (BNS) - The Baltic Defence College helps increase stability in Europe's neighbourhood, Estonia's President Toomas Hendrik Ilves said today.
"As we have received and are still receiving help and support from others, so has the Baltic Defence College become an educational institution where officers from NATO candidate and partner countries can study," Ilves said at a celebration marking the 10th anniversary of the college. "This is our contribution to creating a belt of stability and security around Europe."
Ilves said BALTDEFCOL has in ten years become an essential part of the education of Estonian, Latvian and Lithuanian officers.
"I hope that our Defence Forces will soon be led by someone who has graduated from precisely this educational institution," he added.
The head of state thanked all our allies in NATO and the European Union who helped create and develop BALTDEFCOL, where around 450 officers from the three Baltic states have pursued their studies to date.
The anniversary celebration was attended by Latvian President Valdis Zatlers as well as Baltic defence ministers and armed forces commanders.
Baltic States to Practice the Hosting of Allied Forces in Tartu
27 February - A five-day Host Nation Support (HNS) training of Estonia, Latvia and Lithuania entitled Baltic Host 2009, which involves practicing the hosting of allied forces in the Baltic states, will take place next week in Tartu.
This is the largest Host Nation Support training in the Baltic states to date. Planning for the training began in autumn 2007.
The purpose of the staff practice, which will take place in the Simulation Centre of the Estonian National Defence College, is to practice the co-operation required for Host Nation Support between the Baltic states and on a national level. The defence ministries and defence forces of Estonia, Latvia and Lithuania will take part in Baltic Host 2009. Specialists from the Ministry of the Interior, Ministry of Economic Affairs and Communications, Ministry of Social Affairs and other civilian institutions with their respective specialists will participate in the practicing team.
According to Minister of Defence Jaak Aaviksoo, co-operation in the field of Host Nation Support serves as one of the cornerstones of the Estonian security system. The practice will help to establish a network between the allies and different agencies in Estonia and the Baltic states, which is necessary to ensure the smooth hosting of the allied forces, should it really be necessary one day, the minister of defence said.
According to the proposed scenario, the hosting of the allied forces will be organised in accordance with peace-time legislation. As is appropriate for a NATO training, the Baltic Host 2009 scenario will be based on imaginary states and situations.
During the practice, the role of the allied forces will be played by the US, Polish and British officers of Strike Force NATO, located in Naples, and also the USA European Command (EUCOM) officers. This is the first KNS-training of the Baltic states, Strike Force NATO and EUCOM. In the future, similar trainings will be organised on a regular basis to improve the co-operation among the allied nations in our region.
Military School Masters' Candidates Visit Ministry of Defence
27 February - The Advanced Officer Training Course masters' candidates visited the Ministry of Defence today and met with the management of the ministry.
The Advanced Officer Training Course students of the Estonian National Defence College (ENDC), who are to graduate this spring, met with Minister of Defence Jaak Aaviksoo, Permanent Undersecretary Riho Terras, Deputy Undersecretary for Defence Policy Sven Sakkov, Deputy Undersecretary for Defence Planning Major Captain Lauri Tummi, and Deputy Undersecretary for Defence Resources Martin Hurt.
In his meeting with the masters' candidates, the minister of defence said that according to the experts, the formation of a national officers' community may take as long as twenty-five years. It also seems to me that in Estonia it may take some time before the officers will be treated as a natural part of the clerisy, as is common in countries with long-term military traditions, Minister Aaviksoo said.
According to Aaviksoo, both the Defence Forces and the ENDC must take the necessary steps to achieve a high social reputation for officers. We need to consider the more intensive involvement of people who have acquired higher education into the officers' community - this would make the career system of officers more flexible and open. If the relevant mechanisms are successfully implemented in other countries, it should not be impossible to find similar solutions in Estonia, the minister of defence noted.
The masters' candidates visited the Ministry of Defence within the framework of the course Management and Administration of Peace-time Units, which provides the students with an overview of the management and administration of peace-time training centres. The work of the General Staff of the Defence Forces, army services and the other power structures of Estonia is also introduced within the framework of the subject.
The Estonian National Defence College is the only national defence institute of higher education that prepares well-educated and professional officers who will ensure the security and independence of the state of Estonia. The Basic Officer Training Course of the Estonian National Defence College gives the students basic officers' skills and applied higher education in the speciality of military command and Second Lieutenant's rank. The official study period for the Basic Officer Training Course in the Military Academy of the ENDC is three years in the Army field of study and three years in the Air Force field of study, the latter being launched in co-operation with the Aviation Academy.
After some years of service, the graduates of the course may continue their studies in the Advanced Officer Training Course - level two of military higher education; the graduates will receive the preparation of a company commander and junior staff officer and a master's degree in the social sciences. The ENDC also runs a number of in-service and speciality training courses.
ECONOMIC NEWS
Currency Rates in Kroons
(Bank of Estonia)
Profit of Port of Tallinn Climbs to 26.65 Million EUR
27 February (BNS) - The Estonian state-owned port company Port of Tallinn earned a net profit of 417 million kroons (EUR 26.65 mln) in 2008, 81 million kroons or about 20% more than in 2007.
Consolidated sales during the year totaled 1.17 billion kroons, 0.6% more than in 2007. Operating profit dropped 4% to 452 million kroons.
The number of passengers passing through the ports of Port of Tallinn reached a record level both as regards regular line and cruise passengers, the company said.
The number of passengers travelling through the ports was a record-breaking 7.25 million, increasing by almost 730 000 passengers or 11% year on year.
In absolute terms, the number of passengers increased the most on the Tallinn-Helsinki line, the largest line for the port company, where it soared by 570 000 passengers or 10%.
The factors that contributed to the growth in the number of passengers included Estonia's joining the Schengen visa zone in December 2007, ongoing upgrading of line vessels together with special offers being made available to passengers, and, as far as cruise traffic is concerned, the Baltic Sea's becoming one of the fastest growing cruise regions in the world, Port of Tallinn said.
The cargo volume passing through the ports of Port of Tallinn decreased by 7 million tonnes or 19% to 29 million tonnes in 2008. The decrease followed a steep drop that had occurred in mid-2007, subsequent to which the cargo volume has been relatively stable.
The chairman of the supervisory board of the port company, Neinar Seli, said that the preservation of the company's revenue base and increased profit despite the decline in cargo volumes show the company's ability to bring down risks related to the changes in market situation and fruitful work of the management in making the company more efficient.
In total 29 million tonnes of goods passed through the ports of the Port of Tallinn group during the year, which is 19% less than in 2007.
A decrease together with major changes occurred again in the volumes of bulk cargo and liquid cargo. Liquid cargo still accounted for 71% of total cargo volume.
In a breakdown by direction, transit made up 77%, export 11% and import 12% of cargo flow.
Costs related to the main activity of Port of Tallinn totaled 717 million kroons, marking an annual increase of 4%.
Investments in new and existing infrastructure during the year totaled 560 million kroons, which is 293 million kroons less than in 2007. Most of the investments -- 360 million kroons or almost two-thirds of the total volume of investments -- were made to build new quays and hinterland area.
Kalev Adopts Luterma as New Business Name
26 February (BNS) - The listed Estonian food and real estate group AS Kalev has adopted AS Luterma as its new business name.
The extraordinary general meeting of shareholders that endorsed the change also approved corresponding amendments in the statutes of association, Kalev told the stock exchange.
At Thursday's general meeting 85.43% of the company's registered capital was represented.
Oliver Kruuda, the majority shareholder of Kalev, has previously said the name change arises from the wish to leave the name Kalev fully to the confectionery factory that is part of the Kalev group.
AS Kalev earlier this week filed for delisting from the Tallinn stock exchange.
Ergo Group Insurers in Baltics Boost Profit by 18 Percent
25 February (BNS) - Insurance companies of the Ergo group in the Baltic countries earned a profit of 202 million kroons (EUR 12.9 mln) last year, 18% more than in 2007.
Contributing 130 millon kroons, the Ergo life and non-life insurers in Estonia accounted for two thirds of the profit of Ergo's Baltic operations, Ergo said.
The insurer said in its annual report that life, damage and health insurance premiums in the Baltic states grew by 12% year on year in 2008.
With a market share of 14%, Ergo climbed to the second position among insurers in the Baltics by the end of 2008 after RSA (Codan) Group, coming ahead of the life and non-life insurers of Sampo Group.
Ergo's Estonian non-life insurer, Ergo Kindlustuse AS, saw premiums slide by 0.8% year on year to 924 million kroons.
The profit of Ergo Kindlustus in 2008 totaled 125 million kroons and the company continues in the number two position on the Estonian non-life market with a market share of 21.8%.
The CEO of Ergo's Baltic operations, Kestutis Bagdonavicius, described the Baltic states as engines for Ergo Insurance Group's growth in 2008.
Net premiums of Ergo's Baltic insurance operations in 2008 totalled three billion kroons.
Starman's Q4 Profit Up 72 Percent
27 February (BNS) - The Estonian telecom operator AS Starman has posted a net profit of 13.8 million kroons (EUR 0.88 mln) for the final quarter of 2008, a nearly 72% increase over the figure for the same three months of 2007.
Sales in the fourth quarter climbed nearly 30% in comparison with the same period in 2007 to 96.4 million kroons.
Starman's net profit in the whole of 2008 was up 4.7% year on year at 39.2 million kroons.
Twelve-month sales went up 26.4% to 353.8 million kroons.
Wage Growth Highest in Remote Counties
25 February (BNS) - Average wages and salaries grew at the fastest rate in East Viru County in northeastern Estonia and in Võru County in the country's southeastern corner in the final quarter of 2008, it appears from figures released by Statistics Estonia.
The annual rates of increase in the two countries were by 14.71% to 10 699 kroons (EUR 684) a month in East-Viru and by 13.97% to 10 816 kroons a month in Võru County.
Saaremaa, the westernmost county of Estonia, and Jõgeva in south-central Estonia saw the smallest rates of increase, or respectively by 1.33% to 11 093 kroons and by 1.36% to 10 408 kroons.
Tallinn boasted the highest average monthly wages and salaries, with the figure climbing 5.77% year on year to 14 805 kroons.
Sales of Ekspress Grupp Climb 15 Percent in 2008
26 February (BNS) - Sales revenue of the Estonian media group Ekspress Grupp in 2008 totalled 1.32 billion kroons (EUR 84.3 mln), which is 15% more than in the year before.
Earnings before interest, taxes, depreciation and amortisation increased by 13% to 175.8 million kroons, Ekspress Grupp said in a disclosure to the stock exchange.
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