MERCOR AFTER THE FIRST QUARTER OF THE 2023/24

DOUBLE-DIGIT GROWTH IN REVENUE AND NET PROFIT

The MERCOR Group, a leader in the European market for passive fire protection systems, posted a 12.7% year-on-year increase in revenue, to PLN 152.2 million, for the quarter from April 1st to June 30th 2023. Net profit rose 14% year on year, to PLN 12.6 million. The Group’s EBIT for the same period came in at PLN 15.5 million (-8.3% y/y), and EBITDA at PLN 20.5 million (-4.15% y/y).

“The results for the first quarter of the 2023/2024 financial year highlight our strong operational performance and healthy financial condition. We are delighted to report double-digit year-on-year growth in both revenue and net profit, while maintaining solid profit margins. In light of these achievements, the Management Board has recommended a dividend payment of PLN 1.51 per share, or PLN 23.5 million in total, i.e. about half of the Group’s net profit,” says Krzysztof Krempeć, President of the Management Board of MERCOR S.A.

In the three months to June 30th 2023, revenue generated by the Group on the domestic market accounted for 49.1% of total revenue, having reached PLN 74.7 million. PLN 77.5 million, or 50.9% of total revenue, was contributed by foreign markets.

“Our revenue from foreign markets has seen a year-on-year increase of 26%. Over the years, we have not only solidified our reputation within Poland but also internationally, with our portfolio boasting projects at prestigious facilities across various countries. Our distinguishing trait in the global marketplace is our unwavering commitment to innovation,” adds Mr. Krempeć.

Stable growth in orders

“The Group’s current order book is promising. In July 2023, the Mercor Group secured orders valued at approximately PLN 48.5 million, mirroring the figures from the corresponding period of the previous year. Over the last six months, i.e. from February to July 2023, the Group secured new orders worth a total of about PLN 315.8 million, up from PLN 294.5 million a year earlier, marking a 7% growth,” concludes Mr. Krempeć.

Q1 2023/2024 RESULTS OF THE MERCOR GROUP: