Today, two Estonian construction companies, namely Nordecon and Merko Ehitus, presented their second quarter results. The former improved them, while the fall was fixed in the case of the latter.
Nordecon's revenue, compared to the second quarter of 2023, rose by about thirty percent to 68.7 million. euros. Meanwhile, operating profit jumped from 0.222 to 2.882 million. EUR, and net – from 0.084 to 1.984 million. euros.
Merko Ehitus' revenue during the comparative period fell by 13.6 percent to 122.383 million. EUR, EBITDA profit shrank by thirteen percent to EUR 11.4 million. euros, and net profit – 3.3 percent to 13.061 million. euros.
In total, after the first half of this year, Nordecon's income reaches 114.945 million. euros, while a year ago in the same period it amounted to 86.526 million. euros. EBITDA profit jumped 4.1 times to 4.69 million. euros, and the net profit was 1.802 million. euros, when 1.59 million were incurred in the first half of 2023. net loss of EUR.
In the case of Merko Ehitus, the half-year income amounted to 203.568 million. EUR (a year ago – EUR 217.347 million), EBITDA profit fell from 19.6 to 16.3 million. EUR, and the net profit – from 19.291 to 17.445 million. euros.
At the end of June, Nordecon had construction contracts worth 178.799 million. euros, or fifteen percent more than a year ago. During the second quarter alone, new construction contracts were concluded for 46.413 million. euros (a year ago – for 58.771 million euros). Merko Ehitus concluded new construction contracts for 129 million during the quarter. euros, when a year ago – for 84.4 million. euros, and at the end of the first half of this year, the total value of the construction portfolio reached 437.5 million. euros (at the end of the first half of 2023 – 418.2 million euros).
Since the beginning of this year, Nordecon's share price has fallen eighteen percent, while Merko Ehitus has gained 8.2 percent, after shrinking 30.6 percent and rising 8.5 percent, respectively, over the past one year.
