Merko Ehitus As · OMXTSE:MRK1T
Merko Ehitus As — Q1 2014 Earnings Presentation
13 slides from Merko Ehitus As's earnings presentation, May 2014
Slide 1: Merko Ehitus Group 3 months 2014
Merko Ehitus Group 3 months 2014 May 2014
Slide 2: Agenda
Agenda 1. Key highlights 4. Dividends 2. Business review at segment level 5. Market outlook 3. Financial position 6. Group in brief 2
Slide 3: Key highlights
Key highlights EUR millions 3M 2014 3M 2013 Variance 12M 2013 Revenue 48.9 47.9 +2.1% 262.7 Gross profit 3.9 4.2 -7.1% 22.7 Gross profit margin (%) 8.1 8.8 -9.0% 8.6 EBITDA 1.9 2.9 -35.6% 15.1 Net profit, attributable to equity holders of the parent 0.7 1.8 -59.8% 10.4 Earnings per share (EPS), in e
Slide 4: Business review – 3 months
Business review – 3 months REVENUES Strongest performance from general construction segment (revenues up by 105.4% y-o-y), that is also supported by increased real estate development segment (up by 58.5%). Decrease of revenues in road construction segment (down by 60.3%) and civil engineering segm
Slide 5: Real estate development – apartments
Real estate development – apartments MARKET Objective to keep the adequate level of inventory to meet the market demand, new project launch depending on market conditions at the time. REVENUES 99 apartments sold (handed over) and revenues of EUR 9.0m during 3 months 2014 (12 months of 2013: 263
Slide 6: Solid secured order book
Solid secured order book Secured order book at EUR 224.0m (an increase by 15.8% compared to Q1 2013 and by 4.8% compared to the end of 2013). EUR 48.6m worth of new contracts signed in Q1 2014 compared to EUR 44.6m during Q1 2013. There is a decreasing trend for public orders, however the new
Slide 7: Financial position
Financial position Group’s cash position at EUR 51.9m (31.03.2013: EUR 33.3m; 31.12.2013: EUR 46.6m). The net debt amounted to EUR –19.8m and debt ratio is at a modest level of 13.4% (31.03.2013: EUR -3.4 and 14.6%; 31.12.2013: EUR -11.2 and 14.8%). Current assets are at 2.0x current liabiliti
Slide 8: Dividends
Dividends Dividend pay-out ratio according to long-term financial objectives: 50-70% of the annual profit. The annual general meeting of shareholders approved the Supervisory Boards proposal to pay the total amount of EUR 7.3 million as dividends (EUR 0.41 per share) in 2014. Dividend payment
Slide 9: Market outlook and 2014 focus
Market outlook and 2014 focus Construction market Group’s outlook largely unchanged compared to previous quarter. A decrease of 10-15% in construction volumes is expected in the Baltic States, primarily in Estonia, during 2014. Continuing decrease of public sector procurements due to the end o
Slide 10: Stock Exchange overview
Stock Exchange overview Market Cap at EUR 137.2m (31.03.2013: EUR 127.1m). Up by 7.9% y-o-y basis. No of % of total % of total Shareholders Variance shares 31.04.2014 31.12.2013 AS Riverito (management) 12 742 686 71,99% 71,99% - ING Luxembourg S.A. AIF Account 974 126 5,50% 5,50% - Skandinaviska En
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 6501 250 www.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