Harju Elekter Group
Company Announcement

Harju Elekter won Elektrilevi tender

Estonia, 2019-12-09 07:00 CET -- AS Harju Elekter Elektrotehnika, a subsidiary of AS Harju Elekter, won a tender for the supply of 630 kVa and 1000 kVa prefabricated substations and these components. Elektrilevi OÜ, the largest grid company in Estonia, made an announcement on the winner of the tender, based on which totally 27.8 million euros amounted in the 62-months contract period. According to plans, the terms and conditions of the contract will be specified, and the framework contract will be concluded during this year.

Throughout the years, the Group has contributed to the activities in Estonian market by participating in procurements, selling electrical products for retail and project sales, and offering different industrial rental premises for corporate customers. Sales to the Estonian market grew to 13.2 (9m 2018: 10.7) million euros in the 9 months and accounting for 12% of the consolidated revenue.

This year, 3,000 substations were produced in the Harju Elekter Group’s factories, incl. 2,000 substations in AS Harju Elekter Elektrotehnika. The subsidiary’s production capacities were expanded significantly in 2017, directing the operations of the subsidiary to the new production halls at Keila Industrial Park.

Elektrilevi is the largest network operator in Estonia, managing approximately 60,000 kilometers of power lines and 24,000 substations and building a fast Internet network covering the whole Estonia. In addition, Elektrilevi operates a street lighting network in Tallinn and Tartu and is developing a modern electric car charging network.

After launching its activities in 1968, Harju Elekter Group has developed into a leading producer of MV/LV electrical and engineering devices in the Baltic countries and a well-known and respected manufacturer in Scandinavia. Harju Elekter’s main field of business is the development, manufacturing and sale of equipment necessary for the distribution and transmission of electric energy. The core business is supported by a sheet metal plant in Estonia and the development and leasing of industrial real estate. Harju Elekter Group’s plants in Estonia, Finland, Sweden and Lithuania employ 799 specialists, and 9 months 2019 sales revenue of the Group was 112.2 million euros. Shares of Harju Elekter are listed on Nasdaq Tallinn.

Andres Allikmäe
Chairman of the Board/CEO
+372 674 7400

Prepared by:
Moonika Vetevool
Corporate communication and IR manager
+372 671 2761