2012 in brief

In November AS Harju Elekter Elektrotehnika opened the Development Centre which pools all the engineers from product development and technical departments. The new unit consists of 19 employees. The Development Centre will be an incubator that will provide sales units with innovative products and solutions and offer technical support to production units. The Development Centre includes a laboratory for the development of new prototypes and introducing samples.

In addition to the exciting 51% of shares of its Lithuanian subsidiary, UAB Rifas, AS Harju Elekter acquired another 11.7% of its shares increasing its share up to 62.7%. The contract was concluded on 30.11.2012 and the transaction was closed on 5.12.2012.

In September 10 years passed since Satmatic Oy joined the Harju Elekter Group. On 19.09.2002 AS Harju Elekter and Siemens Oy signed a contract of sale by which Harju Elekter acquired 100% of the shares of the subsidiary of Siemens Oy. During the past 10 years the net sales of Satmatic Oy have increased from 7 million to 21 million euros and the number of employees from 52 to 88.

In September 15 years had passed since the listing of AS Harju Elekter on the Tallinn Stock Exchange. During the 15 years as a publicly traded company the Group has become a leading producer of electrical installations and materials in the Baltic Sea area and increased its volume of sale and operating profit by 10 times. The market value and the share price of the company have increased more than three times. AS Harju Elekter has been one of the few publicly traded companies who has every year paid dividend to its shareholders since being listed on the Tallinn Stock Exchange.

In 2012 the largest integrated biogas plant in the world with the capacity of 140 MW was built in Finland, Vaskiluoto. The plant was built by Metso Oy and our Finnish subsidiary Satmatic Oy supplied it as a subcontractor with the relevant solutions and installations. The Estonian subsidiary of the Group, AS Harju Elekter Elektrotehnika, was involved in the same project producing prefabricated distribution substations and control panels for the biogas plant. The construction of this kind of environmentally friendly power stations will be a growing trend in the near future.

After successful audits, the Lithuanian subsidiary, Rifas UAB, was recognised as an official co-operation partner and supplier of such international corporations as ABB and GE Energy.

The Finnish subsidiary Satmatic Oy increased the sales of solar energy equipment and solutions. This is supported, on one hand, by the 25% price drop of solar panels and other renewable energy equipment that has substantially expanded the clientele of such products, and on the other hand, by the increase in efficiency of such equipment and the entry into force of rules governing the energy performance of buildings. The production segment of pre-heating systems of cars for parking lots and loading panels for electric cars where Satmatic Oy has occupied the position of the Finnish market leader is also showing substantial growth.

In 2012 a solar power station with the capacity of 10 kW was taken into use in Keila production unit. 30 solar panels were added to the station operating in the Finnish subsidiary. Together with the previously implemented solar power stations in Finland (30 kW) and Lithuania (50 kW) the total capacity of the renewable power stations installed in the companies of the Group amount now to approx. 100 kW. Most of the produced electrify is used for self-consumption and the excessive energy is channelled into the state energy network.

AS Harju Elekter Elektrotehnika organised a series of seminars for the employees of the operational and development units of our customers. During the seminars mutually beneficial developments were introduced, important subjects were addressed and questions were answered. A total of 10 training days with approx. 200 participants were organised.

The companies of the Group participated in specialised fairs held in Estonia and Finland, as well as in the composition of the Estonian stand in the European leading electrical engineering fair held in Germany.

The Harju county governor awarded AS Harju Elekter with the title “Company of the year” and gave the manager of the company, Andres Allikmäe, the honorary decoration of the county. The chairman of the Supervisory Board and the development manager of the company, Endel Palla, was merited with the Grand Entrepreneur Award at the Year’s Entrepreneur Gala.