MERCOR CLOSES FINANCIAL YEAR 2023/24

MERCOR REPORTS ROBUST PERFORMANCE FOR FINANCIAL YEAR 2023/2024 DESPITE MARKET HEADWINDS

The MERCOR Group, a leader in the European fire protection market, has reported revenue of PLN 587.4 million (down 6.52% y/y) and net profit of PLN 52.8 million (up 11.75% y/y) for the financial year 2023/2024 (from 1 April 2023 to 31 March 2024). EBIT for the period was PLN 57.1 million and EBITDA reached PLN 76.3 million.

“In the financial year 2023/2024, we delivered strong results in terms of both revenue and net profit, despite more challenging market conditions, including a slowdown in the pace and volume of building construction activity, delays in the release of EU funds, and an economic downturn in Germany. We proactively sought out market opportunities by leveraging our diverse geographic presence and product range. Additionally, following the conclusion of proceedings conducted by relevant authorities, we received a corporate income tax refund with interest, which added approximately PLN 10.5 million to our net profit,” said Krzysztof Krempeć, President of the MERCOR S.A. Management Board.

In FY 2023/2024, revenue generated by the Group on the domestic market represented 51.6% of total revenue, having reached PLN 302.9 million. Sales in foreign markets, at 284.5 million, accounted for 48.4% of total revenue.

Beginning of financial year

“Despite a tougher market compared to last year, the situation in terms of orders in the early months of the financial year 2024/2025 has been promising. In April 2024, the Group secured around PLN 45.3 million in orders, up 21% from the previous year. In May, the order value increased to approximately PLN 53.2 million, marking a 2% year-over-year rise. While we expect the coming months to remain challenging, we hope that new development projects will be initiated in future periods, bolstering the market we operate in,” says Krzysztof Krempeć.

MERCOR GROUP RESULTS FOR FINANCIAL YEAR 2023/2024

* The net profit includes the effect of a CIT refund with interest of approximately PLN 10.5 million, received in the second quarter of the financial year 2023/2024.