Brief: Mercator FY 2021 Net Profit Down At 446.9 Mln Zlotys

Mercator Medical SA

15/04/2022 08:00

April 15 (Reuters) - Mercator Medical SA  MRCP.WA :
    * REPORTED ON THURSDAY FY 2021 NET PROFIT AT 446.9 MILLION
ZLOTYS
VS 930.2 MILLION ZLOTYS A YEAR AGO
    * FY 20221 SALES REVENUE AT 1.73 BILLION ZLOTYS VS 1.83
BILLION
ZLOTYS A YEAR AGO
    * FY 2021 EBITDA AT 482.7 MILLION ZLOTYS VS 1.07 BILLION
ZLOTYS A
YEAR AGO
    * SAID DURING THE FIRST WEEKS OF CONFLICT OPERATIONS OF ITS
UKRAINIAN UNIT WERE TEMPORARILY HALTED AND PARTIALLY RESUMED IN
THE SECOND HALF OF MARCH AND APRIL
    * UKRAINIAN UNIT DOES NOT HOLD TANGIBLE ASSETS OF
SIGNIFICANT
VALUE
    * TO DATE THE GROUP'S ASSETS IN UKRAINE HAVE NOT BEEN
DIRECTLY
AFFECTED BY HOSTILITIES
    * AT THE END OF MARCH AMOUNTS DUE FROM UKRAINIAN CLIENTS
CAME TO
2.3 MILLION ZLOTYS AND AS THESE MAY NOT BE PAID-OFF IT IS
PREPARED TO BOOK A WRITE-DOWN FOR THE ABOVE AMOUNT IN Q1, THOUGH
THE AMOUNT MAY CHANGE
    * SHOULD THERE BE THE NEED THE GROUP IS ABLE TO FINANCIALLY
SUPPORT UKRAINIAN UNIT FOR 12 MONTHS FROM THE BALANCE SHEET DAY
IN ORDER TO ENSURE ITS CONTINUED OPERATIONS
    * RUSSIAN UNIT IS STILL OPERATING AND AS AT THE DAY OF
PUBLICATION
OF THE REPORT THE COMPANY DOES NOT INTEND TO DISCONTINUE THE
OPERATIONS
    * THE COMPANY HAS, HOWEVER, MADE SIGNIFICANT STAFF CUTS and
SCALED-DOWN OPERATIONS IN RUSSIA IN ORDER TO FACILITATE
POTENTIAL CHANGES TO THE FORM OF ITS PRESENCE ON THE RUSSIAN
MARKET OR EVEN WITHDRAWING FROM IT
    * CURRENTLY THE GROUP DOES NOT IDENTIFY IMPAIRMENT LOSS ON
THE
RUSSIAN UNIT ASSETS
    * DUE TO CURRENT AND POSSIBLE FUTURE SANCTIONS CASH FLOW TO
AND
FROM RUSSIA IS IMPAIRED
    * THE SITUATION IS DYNAMICALLY CHANGING AND THE COMPANY IS
PREPARING VARIOUS SCENARIOS, ADJUSTING GROUP ACTIVITIES TO
EMERGING FACTS
    * SALES FROM UKRAINE AND RUSSIA ACCOUNTED FOR 5.3% AND 5%,
RESPECTIVELY, OF ITS 2021 SALES

    
    
 Source text for Eikon:  urn:newsml:reuters.com:*:nEMrTSpqa
 Further company coverage:  MRCP.WA  

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