MERCOR AFTER H1 2023/24

THE GROUP DELIVERS ABOVE PLN 300M IN REVENUE AGAIN

The MERCOR Group, a leader of the European fire protection market, reported revenue of PLN 300.9 million (-0.4% year on year) after the first six months of FY 2023/24 (April 1st 2023 − September 30th 2023). EBIT for the period was PLN 32.3 million (-7.8%) and EBITDA reached PLN 41.7 million (-5%) year on year. Net profit went up 37.8% year on year, to nearly PLN 32 million. In the first half of the financial year, the Company’s net profit was boosted by an income tax refund of PLN 10.5 million, including interest.

In the second quarter of FY 2023/24 alone, the Group’s revenue amounted to PLN 148.7 million (-11%), and net profit stood at over PLN 19.3 million (+59.6%).

“We view our performance in the first part of FY 2023/24 positively. First of all, we maintained strong revenue, which exceeded PLN 300 million, just like the year before. As a result of concluded proceedings, we received a refund of income tax paid, along with accrued interest, which increased the Group’s net profit by approximately PLN 10.5 million ,” said Krzysztof Krempeć, President of the MERCOR S.A. Management Board.

In the first half of FY 2023/24, revenue generated by the Group on the domestic market accounted for 51.1% of total revenue, having reached PLN 153.6 million. PLN 147.2 million, or 48.9% of total revenue, was contributed by foreign markets.

“For many years, we have been dedicated to advancing the Group’s operations. Our progress is supported by the Group’s  innovativeness and a flexible, individualised approach to meeting customers’ needs. As a result, our portfolio includes projects completed for prestigious facilities in numerous countries, contributing to comparable revenue both in Poland and abroad. We have successfully completed interesting new orders abroad, including a contract for DFM Doors products with Tesla Gigafactory near Berlin, as well as contracts with the SKYPARK office centre by Luxembourg Airport and the Port des Lumières Digital Art Centre in Hamburg. We are also very pleased with the projects we have completed in Poland, such as the fire ventilation system for the Innovative Space Centre of the Warsaw School of Economics, structure protections for the Museum of Modern Art in Warsaw or steel doors at the Polish History Museum in the Warsaw Citadel,” emphasised Krzysztof Krempeć, President of the MERCOR S.A. Management Board.

Growth in orders in October

The third quarter of FY 2023/24 started successfully with the acquisition of new orders. The value of new orders received by the Group in October 2023 alone was about PLN 58.5 million, compared with PLN 45.6 million in the same period last year, an increase of 28%. In the six-month period from May to October 2023, the Group secured new orders worth about PLN 331.5 million, compared with PLN 297.9 million in the same period a year earlier, an increase of 11%,” commented Krzysztof Krempeć, President of the MERCOR S.A. Management Board.

H1 2023/24 RESULTS OF THE MERCOR GROUP

* The net profit was affected by a tax refund of approximately PLN 10.5m, including interest.