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Mercator Medical estimates the results for the second quarter of 2022

The Mercator Medical Group, a manufacturer of disposable gloves and a distributor of disposable medical materials, esti…

The Mercator Medical Group, a manufacturer of disposable gloves and a distributor of disposable medical materials, estimated in the period April-June this year increase in turnover compared to the previous quarter. At the same time, however, the competitive pressure resulted in a loss at the level of EBITDA and net result.

The financial data:

I quarter of 2022

II quarter of 2022*

Change quarter to quarter

 

mln PLN

mln PLN

 

Revenue

136,8

146,0

+7%

EBITDA

16,6

-12,2

-28,8m PLN

EBITDA margin

12,1%

-8,4%

-20,5 pp

Net profit

7,6

-5,0

-12,6m PLN

* Preliminary, estimated results in accordance with RB 26/2022

Mercator Medical Group has published preliminary, estimated financial data for the second quarter of 2022. They show that despite continued price pressure on the market of disposable gloves, the Mercator Medical Group increased the scale of its business, recording an increase in revenues by approximately 7% quarter on quarter. Financial results - after an increase in the first quarter of this year - returned to declines, and the consolidated estimated EBITDA and net results were negative.

- For the next quarter, we faced a large supply of gloves on the global market and cost pressure. Unfortunately, preliminary estimates indicate that we have not managed to generate positive financial results despite the increase in sales. We also do not see a positive impact on the market situation from the next wave of coronavirus and the consistent implementation of the zero-COVID strategy in China with numerous lockdowns - comments Michał Romański, Member of the Management Board for Finance at Mercator Medical S.A.

At the end of June this year, the Mercator Medical Group, despite its investments, had PLN 417.7 million in cash and other financial assets.

The final financial results for the second quarter will be included in the interim report for the first half of 2022, the publication of which is scheduled for September 15 this year.

***

Mercator Medical S.A. based in Krakow is a manufacturer of disposable gloves and a distributor of disposable medical materials. In these markets, it is one of the most important players in Poland and an important player in the international arena. The history of the company dates back to 1989.

Thanks to the construction of the second glove factory in Thailand (the last production line commissioned in September 2018), the company's production capacity increased by 150% - to over 3 billion gloves per year. From the first quarter of 2022, production lines are launched in the third factory of disposable gloves (target production capacity is approximately 1 billion items per year). Together with the distribution of gloves purchased from external suppliers, the total sales potential of the Mercator Medical Group can be estimated at over 6 billion gloves per year. The main sales markets in 2021 are the US, Poland and the UK. Great Britain, but Mercator Medical's operations are global - sales through its own distribution companies and through external, local distributors took place in over 50 countries, and the company is constantly expanding geographically.

Since November 2013, the shares of Mercator Medical S.A. are listed on the regulated market of the Warsaw Stock Exchange. In March 2021, they were included in the main stock exchange index - WIG20, and since March 2022 they have been included in the mWIG40 index. More information: www.mercatormedical.eu