Merko Ehitus As · OMXTSE:MRK1T

Merko Ehitus As — FY2013 Earnings Presentation

14 slides from Merko Ehitus As's earnings presentation, February 2014

  1. Slide 1: Merko Ehitus Group 12 months and Q4 2013

    Merko Ehitus Group 12 months and Q4 2013 February 2014

  2. Slide 2: Contents

    Contents 1. Key highlights 2. Business review at segment level 3. Financial position 4. Dividend proposal 5. Market outlook 6. Group in brief 2 Aruküla 330/110/20 kW substation, 2013

  3. Slide 3: Key highlights

    Key highlights EUR millions 12M 12M Variance Q4 Q4 Variance 2013 2012 2013 2012 Revenue 262.7 249.1 +5.5% 64.9 71.4 -9.1% Gross profit 22.7 17.9 +26.8% 5.4 7.3 -26.0% Gross profit margin (%) 8.6 7.2 +20.3% 8.3 10.2 -18.8% EBITDA 15.1 11.4 +32.4% 3.5 5.4 -35.2% Net profit, attributable to equity hold

  4. Slide 4: Business review - 12 months

    Business review - 12 months REVENUES  Strongest performance from general construction segment (revenues up by 40.3% y-o-y), that is also supported by increased real estate development segment (up by 14.3%) and road construction segment (up by 9.6%) revenues. Revenues from engineering segment in tur

  5. Slide 5: Business review – Q4

    Business review – Q4 REVENUES  Q4 revenue decrease shows solid trend of reduced volumes in civil engineering and road construction segments.  2013 Q4 largest proportion from general construction 41% (2012:26%). GROSS PROFIT  General construction performance disappointed due to risks, unforeseen i

  6. Slide 6: Real estate development- apartments

    Real estate development- apartments MARKET  Gradually improving in all Baltic States.  Focus to keep the moderate level of inventory to meet the market demand. REVENUES  263 apartments sold with sales revenues of EUR 28.3 million (2012: 235 apartments, EUR 25.0 million) in 12 months 2013.  300 a

  7. Slide 7: Solid order book

    Solid order book  Secured order book at EUR 213.7m (a decrease by 2.1% compared to Q3 2013 and an increase by 12.5% compared to the secured order book value at the end of 2012).  EUR 48.6m worth of new contracts signed in Q4 2013 compared to EUR 49.6m during Q4 2012.  Order book is still dominate

  8. Slide 8: Financial position

    Financial position  Group’s cash position at EUR 46.6m (31.12.2012: Total assets and debt ratio EUR 35,3m). in million euros and % 248,3  The net debt amounted to EUR –11.2m and debt 236,6 239,2 ratio is at a modest level of 14.8% (31.12.2012: EUR +0.2 and 15.8%). 225,0 224,0 16% 15% 15% 14% 14% 

  9. Slide 9: Dividend proposal

    Dividend proposal  Dividend pay-out ratio according to long-term financial objectives: 50-70% of the annual profit.  Dividend payment of EUR 5.3m in July 2013 (EUR 0.3 per share).  The Management Board proposes to pay the shareholders the total amount of EUR 7.3 million as dividends (EUR 0.41 per

  10. Slide 10: Market outlook

    Market outlook Construction market  Group’s outlook largely unchanged compared to previous quarter.  Decrease in construction volumes is expected in the Baltic States during 2014 and 2015.  Continuing decrease of public sector procurements due to the end of funding period 2007-2013 and uncertaint

  11. Slide 11: Stock Exchange overview

    Stock Exchange overview Market Cap at EUR 127.4m (2012: EUR 104.4m). Up by 22% y-o-y basis. No of % of total % of total Shareholders Variance shares 31.12.2013 30.09.2013 AS Riverito (management) 12 742 686 71,99% 71,99% - ING Luxembourg S.A. AIF Account 974 126 5,50% 5,50% - Skandinaviska Enskilda

  12. Slide 12: Group in brief

    Group in brief Construction services: Operates in Estonia (81% of revenue), • General construction Latvia (17%), Lithuania (2%) • Engineering construction • Road construction Own developed real estate projects The largest construction company in the Baltics 31.12.2013: Share quoted on 860 employees

  13. Slide 13: Contacts

    Contacts Andres Trink Signe Kukin Chief Executive Officer Chief Financial Officer E-mail: andres.trink@merko.ee E-mail: signe.kukin@merko.ee AS Merko Ehitus Delta Plaza, 7th floor Pärnu mnt. 141, 11314 Tallinn, Estonia Phone: +372 6501 250 www.merko.ee 13

  14. Slide 14: Disclaimer

    Disclaimer  This presentation has been prepared by AS Merko Ehitus (the Company) solely for your use and benefit for information purposes only. By accessing, downloading, reading or otherwise making available to yourself any content of the presentation, in whole or in part, you hereby agree to be b

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