Merko Ehitus As · OMXTSE:MRK1T
Merko Ehitus As — AS Merko Ehitus — Shareholder Meeting (June 2010)
20 slides from Merko Ehitus As's shareholder meeting presentation, Jun 3, 2010
Slide 1: AS Merko Ehitus Annual General Meeting of Shareholders
merko AS Merko Ehitus Annual General Meeting of Shareholders 3.06.2010 toad
Slide 2: Agenda of the annual general meeting
1. Endorsement of the annual accounts for 2009 2. Proposal on distribution of profits 3. Modification of Articles of Association 4. Removal of a member of the Supervisory Board 5. Approval of auditor appointed for the financial year 2010 6. The strategy of AS Merko Ehitus Group for 2010-2015
Slide 3: 1. Endorsement of the annual accounts for 2009
1. Endorsement of the annual accounts for 2009 2. Proposal on distribution of profits 3. Modification of Articles of Association 4. Removal of a member of the Supervisory Board 5. Approval of auditor appointed for the financial year 2010 6. The strategy of AS Merko Ehitus Group for 2010-2015
Slide 4: Growth/decline of construction production in Estonia and Baltics
Growth/decline of total construction production in Estonia at current prices, y-o-y 62% Growth/decline of construction production in Baltics at current prices, y-o-y 50% Sales growth/decline of Merko Ehitus, y-o-y 37% 36% 35% 28% 29% 34% 25% 25% 26% 23%23% 23% 21% 17% 17% 15% 15% 11% 4% 4% 0% -4%200
Slide 5: Sales and sales growth of Merko
6 000 200% 191% 5511 5 000 4654 150% 4414 4 000 100% 94% 3232 3181 3110 3 000 2708 60% 62% 50% 2 000 37% 1670 25% 23% 1420 1359 15% 4% 0% 1 000 843 -4% 734 -13% -16% 526 -32% 0 -50% 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 Sales, in million eur Sales growth/decline of Merko y
Slide 6: Revenue and backlog of construction contracts
6 000 5511 5245 5 000 4654 4414 4 000 4136 3181 3 000 2986 2287 2 000 2000 1300 1 000 0 2006 2007 2008 2009 2010 31.03.2010 Revenue Backlog of construction contracts (at the beginning of the period)
Slide 7: Apartments sold and products in progress
1 200 600 529 1 000 500 1023 800 413 400 327 600 300 279 280 400 493 200 428195 175 (412 pcs) 331 200 100 211 224 79 60 (187 pcs) 18 (58 pcs) 0 0 2006 2007 2008 2009 Products in progress Finished goods No of apartments sold (pcs) No of apartments sold - Merko (pcs)
Slide 8: Net profit and write-offs
600 Write-offs Net profit (extraordinary) 500 125 49 Net profit (without extraordinary profit) 400 173 149 300 20 41 496 457 200 112 274 289 258 100 184 88 99 116 38 67 0 26 16 1997 1998 1999* 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 * Does not include the one-off financial expense of EUR 1
Slide 9: General costs and gross remuneration
10% 450 9% 400 407 8,8% 408 8,8% 8% 350 7,4% 7% 300 6,3% 6,4% 6% 278 5,8% 279 250 5,4% 268 5% 246 4,4% 4,6% 4,5% 200 4% 3,9% 3,9% 201 3,3% 3,4% 176 172 150 3% 138 150 100 2% 107 107 89 1% 50 0% 0 2003 2004 2005 2006 2007 2008 2009 General costs (million EEK) Gross remuneration (million EEK) General
Slide 10: Gross remuneration and average number of employees
1045 1042 500 1000 864 400 805 800 407 408 707 649 300 622 600 278 279 200 400 376 375 342 181 334 315 176 177 258 280 100 138 126 137 200 107 96 79 56 0 0 2003 2004 2005 2006 2007 2008 2009 Gross remuneration - group Gross remuneration - parent Average no of employees - group Average no of employee
Slide 11: Total assets, equity-to-assets ratio and debt obligations
4 500 90% Total assets Equity-to-assets ratio Debt obligations 4 000 80% 3 500 70% 3 000 61% 60% 55% 54% 2 500 50% 50% 52% 50% 2 000 40% 3917 40% 3861 3514 1 500 3215 30% 1 000 2220 20% 18% 19% 14% 14% 15% 500 1146 1299 10% 0 3% 2% 0% 2003 2004 2005 2006 2007 2008 2009
Slide 12: Return on equity and return on assets
60% Return on equity Return on assets 50% 50% 48% 48% 43% 40% 30% 30% 24% 25% 21% 20% 20% 15% 15% 10% 8% 6% 3% 0% 2003 2004 2005 2006 2007 2008 2009
Slide 13: Dividend per share and payout ratio
12 168% 11,00 160% 10 140% 120% 8 7,00 100% 6 80% 5,00 60% 4 3,50 3,25 48% 40% 40% 2,00 2,10 2 20% 20% 20% 1,13 20% 20% 20% 20% 21% 21% 20% 0,75 0,29 0,43 0,45 0,00 0 0% 0% 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 Dividend per share Payout ratio
Slide 14: 2. Proposal on distribution of profits
1. Endorsement of the annual accounts for 2009 2. Proposal on distribution of profits 3. Modification of Articles of Association 4. Removal of a member of the Supervisory Board 5. Approval of auditor appointed for the financial year 2010 6. The strategy of AS Merko Ehitus Group for 2010-2015
Slide 15: 3. Modification of Articles of Association
1. Endorsement of the annual accounts for 2009 2. Proposal on distribution of profits 3. Modification of Articles of Association 4. Removal of a member of the Supervisory Board 5. Approval of auditor appointed for the financial year 2010 6. The strategy of AS Merko Ehitus Group for 2010-2015
Slide 16: 4. Removal of a member of the Supervisory Board
1. Endorsement of the annual accounts for 2009 2. Proposal on distribution of profits 3. Modification of Articles of Association 4. Removal of a member of the Supervisory Board 5. Approval of auditor appointed for the financial year 2010 6. The strategy of AS Merko Ehitus Group for 2010-2015
Slide 17: 5. Approval of auditor for 2010
1. Endorsement of the annual accounts for 2009 2. Proposal on distribution of profits 3. Modification of Articles of Association 4. Removal of a member of the Supervisory Board 5. Approval of auditor appointed for the financial year 2010 6. The strategy of AS Merko Ehitus Group for 2010-2015
Slide 18: 6. The strategy of AS Merko Ehitus Group for 2010-2015
1. Endorsement of the annual accounts for 2009 2. Proposal on distribution of profits 3. Modification of Articles of Association 4. Removal of a member of the Supervisory Board 5. Approval of auditor appointed for the financial year 2010 6. The strategy of AS Merko Ehitus Group for 2010-2015
Slide 19: About Merko
BD af * eo education oomeamdszule commercial areas, lots About Merko Our vision is reliable solutions and quality performance for your ideas Merko Ehitus is the construction company established at the beginning of 1990 which operates in Estonia, Latvia and Lithuania and which shares are quoted at Ta
Slide 20: AS Merko Ehitus Annual General Meeting of Shareholders
merko AS Merko Ehitus Annual General Meeting of Shareholders 3.06.2010 toad