Estonia's Merko Ehitus Q2 revenue rises 12%
Estonia's Merko Ehitus Q2 revenue rises 12%
Overview
Estonia construction and real estate developer's Q2 revenue rose 12% yr/yr, net profit declined
Secured order book reached record EUR 836 mln at end-June
Company cites increased construction activity, but higher input prices and price-sensitive buyers
Outlook
Merko Ehitus expects Rūdninkai defence campus project to boost revenue in coming quarters
Company says secured order-book at all-time high supports future revenue
Merko Ehitus sees continued construction input price pressures with no signs of easing
Result Drivers
PROJECT PHASING - Revenue growth attributed to several large projects entering more active construction phases
APARTMENT DELIVERIES - More than twice as many apartments delivered to customers in Q2 as in Q1
INPUT COST PRESSURE - Profitability impacted by increase in construction input prices, with no signs of easing
Company press release: ID:nGNE250Y3P
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue |
| EUR 92.67 mln |
|
Q2 Net Income |
| EUR 8.50 mln |
|
Q2 Gross Profit |
| EUR 11.91 mln |
|
Q2 Operating Income |
| EUR 7.04 mln |
|
Q2 Pretax Profit |
| EUR 9.09 mln |
|
Reuters Recommended Reads
Aug 5 - Construction firm Tutor Perini's Q2 revenue beats estimates, guidance raised
Aug 3 - Estonia's Infortar H1 operating profit nearly doubles
Aug 4 - UK's Keller Group H1 revenue rises 11% on North America demand
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)