Merko Ehitus As · OMXTSE:MRK1T
Merko Ehitus As — AS Merko Ehitus — Shareholder Meeting (June 2009)
15 slides from Merko Ehitus As's shareholder meeting presentation, Jun 1, 2009
Slide 1: AS Merko Ehitus Annual General Meeting of Shareholders 01.06.2009
merko AS Merko Ehitus Annual General Meeting of Shareholders — 01.06.2009
Slide 2: Construction market and company sales in Estonia 2006-2008
2006 2007 2008 Merko Ehitus; Merko Ehitus; 5,6% Merko Ehitus; 6,1% Skanska; 3,2% Skanska; 3,5% 6,1% Nordecon; Skanska; 3,9% Nordecon; 5,9% 6,0% Nordecon; 5,0% YIT Ehitus; 1,9% YIT Ehitus; 1,7% YIT Ehitus; 2,0% Koger; 1,9% Koger; 1,9% Koger; 3,3% Others; 81,1% Others; 81,0% Others; 79,9% In million E
Slide 3: Construction market and company sales in the Baltics 2006-2008
2006 2007 2008 In million EUR 2006 2007 2008 Total construction activities in Baltics 7 691 10 375 10 613 Merko Ehitus sales in Baltics 282 353 297 Skanska EMV sales in Baltics 122 118 n/a Nordecon sales in Baltics 146 213 219 YIT Group sales in Baltics 197 192 119 Panevežio statybos trestas sales i
Slide 4: Growth/decline of construction work in Estonia, Latvia and Lithuania
50% Growth/decline of construction workd in ESTONIA Growth/decline of construction workd in LATVIA 40% 40% 38% Growth/decline of construction workd in LITHUANIA 35% 30% 33% 29% 27% 25% 22% 22% 21% 19% 20% 18% 17% 15% 17% 15% 14% 12% 11% 8% 10% 5% 6% 0% 0% 1999 2000 2001 2002 2003 2004 2005 2006 2007
Slide 5: Construction volumes by country: Estonia, Latvia, Lithuania, Finland
5000 4560 4500 3981 4000 3640 3500 3296 3119 3115 3000 2500 2000 1753 1572 1500 1429 1054 10721026 953922 1000 826 676664 600 692 482497 360 370412 500 262278 302 0 2002 2003 2004 2005 2006 2007 2008 Estonia Latvia Lithuania Finland
Slide 6: Merko Ehitus sales 1995-2008
chet Werkorenitustsales merko a 400 300 200 100 91 34 10 2 | 6 : : : 1995 1996 1997 1998 1999 2000 =2001 2002 2003 2005 2006 2007 2008 t=) “NI
Slide 7: Sales by geographic market 2003-2008
400 Others Lithuania Latvia 47 Estonia (13%) 300 36 54 89 (13%) 18% (25%) 67 58 200 15 (24%) (20%) 10 29 37 28 17 216 100 179 (62%) 185 159 155 (63%) (62%) 126 0 2003 2004 2005 2006 2007 2008
Slide 8: Sales by type of building
merko 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% lark snims siucmne of buillings 1 2 10 2 14 d 1 2 7 7 4 c 5 1 2002 2003 2004 2005 2006 2007 2008 GResidential/Development Public service GOffice Glndustrial Civil engineering GRoad
Slide 9: General expenses and remuneration to sales
14% 12,0% 12% 10% 8,8% 8% 7,4% 7,2% 4,7 million eur 6,3% 5,8% 26,1 million eur 6% 5,4% 2,8 million eur 4,4% 4,6% 4,5% 3,9% 3,9% 17,1 million eur 4% 3,4% 3,3% 2% 0% 2003 2004 2005 2006 2007 2008 Q1 2009 General expenses to sales Gross remuneration to sales
Slide 10: Average number of employees and earnings per employee
1200 2 500 Average no. of employees in Merko Ehitus Group Average no. of employees in Merko Ehitus parent company Merko Ehitus (Group) - earnings per employee in a month, in eur 1000 2072 2088 2 000 800 1714 1 500 1323 600 1129 1 045 1042 1 000 886 914 864 400 814 707 622 649 557 500 200 367 342 376
Slide 11: Net profit
40 Net profit (extraordinary) Net profit (without extraordinary) 8 3 30 10 20 1 3 32 30 29 10 18 19 17 12 4 6 6 0 1 1 2 3 1 1994 1995 1996 1997 1998 1999* 2000 2001 2002 2003 2004 2005 2006 2007 2008 2008 ** * Does not include the one-off financial expense of EUR 1054 million due to the spinoff of E
Slide 12: Total assets, equity-to-assets ratio and debt obligations
250 80% Total assets Equity-to-assets ratio 70% Debt obligations 200 60% 58% 55% 54% 52% 150 50% 50% 50% 40% 250 247 40% 234 100 205 30% 142 20% 18% 19% 18% 50 14% 14% 73 80 10% 0 0% 2003 2004 2005 2006 2007 2008 Q1 2009
Slide 13: Number of shareholders and average investment
hee (00 0 thaiaalticns amd average linesttinanns (2%) endl merko asc yjea 4500 5 4224 SUEY 4 GAverage investment 31.12, thou EEK @No of shareholders, 31.12 3500 5 3000 2920 2500 5 2000 5 1500 5 1257 1000 5 500 5 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Slide 14: Public sector dominates in construction orders in 2009; private sector investment activity is low
• Public sector dominates in construction orders in 2009; • Private sector investment activity is low (trade, hotel business, office spaces); • Private individuals are not in a hurry to take liabilities and demand in apartment sector is low; • Need to find means to cut expenses and improve efficienc
Slide 15: Welcome! Merko Ehitus
HOME ABOUTMERKO BUSINESS ACTIVITIES FORTHEINVESTOR COMETOWORK PUBLIC RELATIONS CONTACT merko supports <=, | health tracks into each county Z Welcome! Merko Ehitus provides continuous reliable integral solutions guaranteeing satisfaction and feeling of security in the sectors of real estate developme