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's activity report 2022

General information

AS Saku Maja was established on December 15, 1997 as a result of the restructuring of the municipal enterprise Maja.

The latter was created in 1993 on the basis of municipal property belonging to Saku municipality and for its management.

The main activities of AS Saku Maja are the production of thermal energy, the sale of electricity and network services, the production and sale of water, the provision of wastewater and sewage services, the provision of administrative and maintenance services, and real estate management.

AS Saku Maja provides services to the residents of Saku municipality and to companies and institutions located in the municipality's territory.

Key events

In 2022, the Keila River wastewater collection area water management project in Saku municipality was completed. The total cost of the investment amounted to 23,945,763 euros, of which the European Union Cohesion Fund support amounted to 18,055,802 euros, NEFCO 63,825 euros, and Saku municipality support 23,461 euros. Saku

Maja's own contribution to the project amounted to 5,802,675 euros. For the financing of the project's own contribution, an investment loan was taken from SA KIK in the amount of 2,869,122 euros, the share capital was increased by 1,846,200 euros, and 1,087,353 euros were covered from own funds.

As a result of the project, nearly 2200 properties were given the opportunity to join the ÜVK. In the settlements of Kiisa and Roobuka, a relatively new solution for Estonia, vacuum sewerage, was built for such a large area for the first time. The cost of building vacuum sewerage systems is indeed more expensive than traditional solutions, but the investment pays off thanks to lower operating costs.

As a result of the entire water management project, a total of approximately 65 km of drinking water and 92.6 km of sewage pipelines were built in the project area.

Business overview

The balance sheet total of AS Saku Maja decreased by 590,919 euros (1%) during the year. The balance sheet total was 48,057,268 euros at the end of 2022. The carrying amount of fixed assets increased by 1,074,424 euros (2%) in 2022, and fixed assets accounted for 98% of total assets at the end of the year. Current assets decreased by 1,665,343 euros (61%) during the year. Current assets account for 2% of the company's total assets.

Liabilities decreased by 1,239,997 euros i.e. 22% at the same time. In terms of liabilities and equity, equity accounted for 91% at the end of 2022 and liabilities 9%. In terms of liabilities, short-term liabilities accounted for 25% at the end of 2022 and long-term liabilities 75%.