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MARKED IMPROVEMENT IN BOTH REVENUE AND EARNINGS

The MERCOR Group, a manufacturer of advanced technology solutions and a leader of the European market for passive fire protection systems, posted a significant year-on-year improvement across all key performance metrics after the first half of the financial year 2022/23 (April 1st 2022–September 30th 2022).

After the first six months of the financial year, the Group’s revenue increased by 31% year on year, to almost PLN 302 million. In the same period, net profit amounted to nearly PLN 23.2 million (up by 30.4% year on year), EBIT reached PLN 35 million (up by 52.1%), and EBITDA came in at more than PLN 43.9 million (up by as much as 46.4% over the comparative period).

In the second quarter of the financial year 2022/23 alone, the Group’s revenue went up by nearly 33% year on year to just under PLN 167 million, and net profit stood at over PLN 12.1 million (up by 28.2%).

“The first half of the fiscal year 2022/23 was very good for our business as we posted both higher revenue and improved profitability. The strongest revenue growth was recorded in the domestic market: up by as much as 35.7% year on year. We are also pleased with the growth achieved in foreign markets, where sales rose by more than 26% relative to the same period last year. In the second quarter alone, our revenue outside of Poland grew by as much as 36.3%. Notably, the revenue growth was accompanied by an improvement across most profitability metrics, delivered mainly on the back of cost discipline we maintained from previous periods,” says Krzysztof Krempeć, President of the Management Board, CEO of MERCOR S.A.

In the first half of the financial year 2022/23, the Group derived a slightly higher share of revenue from the domestic market – nearly 52%, equivalent to PLN 156.8 million. In foreign markets, on the other hand, the Group generated more than 48% of total revenue, equivalent to PLN 145.2 million.

“The marked year-on-year improvement in our performance is a reason for content, especially given the external context of our operations. Despite the surging prices of materials, energy and transport coupled with increasingly higher cost of finance, as well as persistent supply chain disruptions, both our sales and earnings were better year on year. The improvement was driven by a strong geographic diversification of our markets and continually enhanced product offering,” emphasised Krzysztof Krempeć.

H1 2022/2023 RESULTS OF THE MERCOR GROUP:

NEW GROWTH PROSPECTS

In the period from April to September 2022, the Group secured new orders worth about PLN 302.1 million, compared with PLN 263.5 million in the same period a year earlier, an increase of 15%. The value of new orders received by the Group in October 2022 alone was about PLN 45.6 million, compared with PLN 41.6 million in the same period last year, an increase of 10%.

“We are also developing new business areas, namely that of energy storage systems, the segment managed within the Group by Elmech-ASE, and smart fire protection solutions (Fire Safety 4.0), implemented by the recently established MCR Tech Lab,” says Krzysztof Krempeć, CEO of MERCOR S.A.