Results

The Q4 2014 sales revenue of Merko Ehitus was EUR 70.1 million, with a figure of EUR 252.3 million for the financial year. Net profit grew by 96% in the fourth quarter to EUR 4.8 million and for the financial year by 19% to EUR 12.4 million. The Management Board of AS Merko Ehitus proposes that the shareholders be paid 0.41 euros per share in dividends from retained earnings of previous periods and to reduce the share capital by 0.23 euros per share in 2015.

In 2014, Merko earned 32% of its sales revenue from outside Estonia – Lithuanian sales doubled and Latvian sales increased by more than half compared to 2013. Merko sold 395 apartments in 2014 – 132 apartments more than the year before – as a result of which sales revenue in the real estate development segment increased by 48%.

We can be satisfied with the 2014 results, which were achieved in what continues to be a complicated market situation. Above all, improved profit figures, growth in Latvia and Lithuania and apartment sales in Estonia are reason to cheer. As expected, the decline in construction volumes in the engineering and road construction sectors continued, due to the decreased amount of EU-funded projects, even though the profitability of these segments exceeded our expectations. For more information please click here.