Merko Ehitus As · OMXTSE:MRK1T
Merko Ehitus As — H1 2014 Earnings Presentation
13 slides from Merko Ehitus As's earnings presentation, August 2014
Slide 1: Merko Ehitus Group 6 months and II quarter 2014
Merko Ehitus Group 6 months and II quarter 2014 August 2014
Slide 2: Agenda
Agenda 1. Key highlights 4. Market outlook 2. Business review at segment level 5. Group in brief 3. Financial position 2
Slide 3: Key highlights
Key highlights EUR millions 6M 6M Variance Q2 Q2 Variance 12M 2014 2013 2014 2013 2013 Revenue 113.7 113.7 0.0% 64.8 65.9 -1.6% 262.7 Gross profit 10.1 9.8 +2.6% 6.1 5.6 +9.9% 22.7 Gross profit margin (%) 8.9 8.6 +2.6% 9.5 8.5 +11.7% 8.6 EBITDA 6.1 6.3 -3.0% 4.3 3.4 +24.5% 15.1 Net profit, attributa
Slide 4: Business review – 6 months
Business review – 6 months REVENUES Strong performance from real estate development (revenues up by 77.0% y-o-y) and general construction segment (up by 70.0%). Decrease of revenues in road construction (down by 50.4%) and civil engineering segment (down by 46.6%). The share of Latvian revenue h
Slide 5: Business review – Q2
Business review – Q2 REVENUES Real estate development segment revenues (up by 58.5% y-o-y). Decrease of revenues in road construction segment (down by 60.3%) and civil engineering segment (down by 54.7%). Private sector orders have not increased for the group at the volumes anticipated at the be
Slide 6: Real estate development – apartments
Real estate development – apartments Objective to keep the adequate level of inventory to meet the market demand, new project launch depending on market conditions at the time. REVENUES 198 apartments sold (handed over) and revenues of EUR 18.6m during 6 months 2014 (6 months of 2013: 94 apartment
Slide 7: Solid secured order book
Solid secured order book Secured order book at EUR 191.6m (an increase by 3.9% compared to Q2 2013 and a decrease by 10.3% compared to the end of 2013). EUR 21.7m worth of new contracts signed in Q2 2014 compared to EUR 51.3m during Q2 2013. Continuing decrease in the volume of public tenders
Slide 8: Financial position
Financial position Group’s cash position at EUR 43.4m (30.06.2013: EUR 33.8m; 31.12.2013: EUR 46.6m). The net debt amounted to EUR –9.3m and debt ratio is at a modest level of 14.0% (30.06.2013: EUR -1.0 and 13.9%; 31.12.2013: EUR -11.2 and 14.8%). Current assets are at 2.0x current liabilitie
Slide 9: Market outlook and 2014 focus
Market outlook and 2014 focus Construction market Group’s outlook largely unchanged compared to previous quarter. Uncertainty over the escalation of events in Ukraine, will have direct influence on exports and hence direct impact on Baltic economies. A decrease of a 10-15% in construction volu
Slide 10: Stock Exchange overview
Stock Exchange overview Market Cap at EUR 127.1m (30.06.2013: EUR 114.0m). Up by 11.5% y-o-y basis. No of % of total % of total Shareholders Variance shares 30.06.2014 31.03.2014 AS Riverito (management) 12 742 686 71,99% 71,99% - ING Luxembourg S.A. AIF Account 974 126 5,50% 5,50% - Skandinaviska E
Slide 11: 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 listed construction company in the Baltics 31.12.2013: Net Profit 2013: Share
Slide 12: 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: +372 650 1250 www.group.merko.ee 12
Slide 13: 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