Slide 1: Financial Results Mercor Financial Year 2023/2024
FINANCIAL RESULTS MERCOR FINANCIAL YEAR 2023/2024 1
Slide 2: of fire safety
of fire safety in Europe Product divisions: Nnstruction prot Oe among markets worldwide int doors and sliding gates :d by DFM Doors » loT and industry 4.0 technologies provided . by MCR TECH LAB on 4 continents years » Industrial Energy storage units provided of experience by ELMECH » active extingu
Slide 3: FY 2023/2024 Highlights
01. FY 2023/2024 HIGHLIGHTS • Revenue of nearly PLN 590 million – high level of revenue maintained despite more challenging market conditions: slowdown in building construction activity, delays in the release of EU funds, and economic crisis in Germany. • Strong order levels in April 2023-March 2024
Slide 4: Key Data for FY 2023/2024
KEY DATA FOR FY 2023/2024 REVENUE GROSS GROSS PROFIT PROFIT MARGIN (%) PLN 587.4 million PLN 153.1 million 26.1% -7% -2% +1.2pp EBITDA EBIT NET PROFIT PLN 76.3 million PLN 57.1 million PLN 52.8 million -13% -17% +12% 4 mercor.com.pl
Slide 5: Financial Results for the Financial Year 2023/2024
FINANCIAL RESULTS FOR THE FINANCIAL YEAR 2023/2024 04.
Slide 6: Group Sales
04. GROUP SALES Sales in FY 2023/2024 Quarterly sales [PLN million] [PLN million] -6.5% y/y 628.4 167.0 167.3 587.4 159.1 152.2 148.7 145.4 141.1 136.9 135.0 125.6 128.6 104.4 104.8 92.1 96.9 92.9 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2022/2023 2023/2024 2020/2021 2021/2022 2022/2023 2023/
Slide 7: Group Sales by Geography
GROUP SALES BY GEOGRAPHY Sales in FY 2022/2023 [%] Sales in FY 2023/2024 [%] UK Ukraine UK Romania Ukraine Romania Czech Republic 1.3% Czech Republic 2.0% and Slovakia 1.4% and Slovakia 0.8% 1.3% 2,5% 6.3% 6.5%6.5% Hungary Poland Hungary 7.6% 7.7% Poland 14.2% 50.2% 12.7% 51.6% Other Other 7.8% 8.3%
Slide 8: Costs Aligned to Scale
COSTS ALIGNED TO SCALE Quarterly costs [PLN million] Costs in FY 2023/2024 9,3 10,3 [PLN million] 8,6 SG&A -5.6% y/y 13.3 13,7 13,4 10,3 10,5 10,3 8,9 8.4 13,0 Distribution 7,6 8,7 11,0 14,7 7,6 11,7 16,0 costs 560.7 +8.5% y/y 11,3 11,2 Cost of sales 529.2 11,3 36,9 6,8 51,6 40,0 6.6 +6.1% y/y 6.9 8
Slide 9: Group Results
GROUP RESULTS Quarterly EBITDA [PLN million] EBITDA in FY 2023/2024 [PLN million] -12.9% y/y EBIT Depreciation and amortisation 87.6 76.3 4,7 18,9 4.4 19,2 4,5 4,5 5,0 4,9 5,3 3,2 3,5 3,5 3,4 3,0 3,8 3,6 4,9 19,9 68,8 16,9 18,1 16,8 57,1 15,5 15,8 13,0 13,8 10,7 10,9 4,3 11,1 11,9 10,2 10,8 9,0 3,4
Slide 10: Strong Net Profit Growth
STRONG NET PROFIT GROWTH Quarterly net profit [PLN million] Net profit in FY 2023/2024 [PLN million] +11.8% y/y 52,8 19,3 47,2 13,6 14,0 12,1 12,6 11,1 10,4 9,8 9,4 8,4 8.0 8,4 7,3 7,4 6,8 2,5 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2022/2023 2023/2024 2020/2021 2021/2022 2022/2023 2023/2024
Slide 11: Solid Profitability in a Challenging Environment
SOLID PROFITABILITY IN A CHALLENGING ENVIRONMENT Quarterly profitability [%] Profitability in FY 2023/2024 [%] 28,2 28,7 28,1 27,5 25,9 25,4 29,2 23,7 24,4 24,5 22,8 22,5 25,5 24,2 24,8 21,9 24,9 15,8 26,1 15,4 15,5 14,7 14,4 14,0 12,2 13,5 12,0 14,3 12,4 10,9 12,5 11,9 13,5 14,2 11,6 11,3 8,2 10,6
Slide 12: Stable Liquidity Position
STABLE LIQUIDITY POSITION Cash flow [PLN million] 64,0 49,0 9,3 -12,0 -13,6 -19,1 -42,8 -43,5 2022/2023 2023/2024 Cash flow from operating activities Cash flow from investing activities Cash flow from financing activities Total cash flow • Low debt level. • Cash at PLN 15.6 million, with bank debt a
Slide 13: Safe Debt Level
SAFE DEBT LEVEL Net debt [PLN million] and net debt/EBITDA ratio 91,6 96,7 2.6 76,8 72,5 66.1 67,1 1,7 1.6 1,0 1,3 0,8 2018/19 2019/2020 2020/2021 2021/2022 2022/2023 2023/2024 Net debt Net debt/EBITDA • Continued low net debt/EBITDA ratio: 0.95. 13 mercor.com.pl
Slide 14: A Future Based on Orders
@ mercor A FUTURE BASED ON ORDERS
Slide 15: Orders
ORDERS FY 2024/2025 FY 2023/2024 FY 2022/2023 FY 2021/2022 FY 2020/2021 66,2 66,6 65,5 59,6 58,5 57,4 53,2 57,8 52,2 52,4 49,8 48,3 50,5 50,4 48,3 48,5 47,6 46,2 47,3 48,9 48,5 47,1 43,8 45,641,6 45,9 46,8 45,3 39,9 42,6 37,3 37,4 38,0 40,8 41,4 42,0 37,6 38,3 36,8 35,7 31.8 27,7 30,4 33,7 31,4 31,9
Slide 16: Sample Projects: Natural Smoke Exhaust Systems
01. NATURAL SMOKE EXHAUST SYSTEMS SAMPLE PROJECTS Annopol Tram Depot – Warsaw • Systems: mcr ULTRA THERM smoke vents, roof hatches and skylights, mcr 9705, mcr R0424 and R0424, mcr PRO- 1, mcr BVT control systems Century Mechanical System Factory – Qatar • Systems: mcr PROLIGHT DVP smoke vents , CON
Slide 17: Sample Projects: Natural Smoke Exhaust Systems
01. NATURAL SMOKE EXHAUST SYSTEMS SAMPLE PROJECTS DOROTTYA hotel – Hungary • Systems: mcr ULTRA THERM smoke vents Unit 3 Vantage Business Park – Ireland • Systems: mcr PROLIGHT DVP smoke vents, mcr PROSMOKE smoke curtains 17 mercor.com.pl
Slide 18: Sample Projects: Fire Ventilation Systems
01. SAMPLE PROJECTS FIRE VENTILATION SYSTEMS Malbork Castle Museum – Malbork • Systems: smoke extraction systems for escape routes Academy of Music – Bydgoszcz • Systems: mcr FID PRO, mcr FID S and MCR WIP/T fire dampers Space Labs – Toruń • Systems: mcr HEX smoke extraction systems for escape route
Slide 19: Sample Projects: Protection of Building Structures
01. SAMPLE PROJECTS PROTECTION OF BULDING STRUCTURES Museum of Modern Art – Warsaw • Scope: installation of elastomeric bearings and ties 1,000 m2 40 mm SILBOARD + 200 meters of mcr DUNASEAL K.nig Maschinen – Hungary • Systems: Polylack W 19 mercor.com.pl
Slide 20: Sample Projects: Fire Separations
01. SAMPLE PROJECTS FIRE SEPARATIONS TESLA Gigafactory – Berlin, Germany • Systems: DFM DS and DFM OS doors Mokslo Sala – Austria • Systems: DFM DS steel doors and DFM SG sliding gates Nestle Purina – Hungary • Product: DFM DS and DFM OS doors 20 mercor.com.pl
Slide 21: Sample Projects: Fire Separations
01. SAMPLE PROJECTS FIRE SEPARATIONS AEB municipal waste incineration plant – the Netherlands • Systems: HEAVY DUTY doors made of 0.88 mm sheets, with 60N frames, and RC handles from Eco Schulte DE SAO SEBASTIANO hospital in Santa Maria da Feira – Portugal • Systems: DFM GD profile doors 21 mercor.c
Slide 22: Summary
@mercor SUMMARY
Slide 23: Summary
01. SUMMARY • Strong results delivered in terms of both revenue and net profit, despite market headwinds. • Net profit supported by an income tax refund of PLN 10.5 million. • Net debt/EBITDA ratio at 0.95. • Dividend of PLN 1.51 per share paid in September 2023 (dividend yield of 5.83%). • PLN 98.5
Slide 24: Disclaimer
This material is intended for information purposes only. It does not constitute an advertisement for or an offer of any publicly traded securities. Its contents have been compiled from sources considered reliable and accurate by MERCOR S.A., although no assurance can be given that such sources are e
Slide 25: Thank You!
THANK YOU! 25 mercor.com.pl