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Mercator Medical S.A. improves results in Q3 2014.

In Q3 2014, the Mercator Medical Group increased sales revenues by more than 16% to PLN 44.5 million.

In Q3 2014, the Mercator Medical Group increased sales revenues by more than 16% to PLN 44.5 million.

The growth was solely due to increased revenues on the sale of own products (by nearly 83%) and is attributable both to increased production capacity and to decreased inventory levels. Incremental revenues for three quarters of 2014 increased by more than 11%. Net profit was PLN 3.6 million and increased by PLN 1.0 million YOY. On the other hand, incremental net profit is PLN 7.4 million and is higher by PLN 1.2 million (nearly 19%) than in the same period of the previous year.

It is worth noting that in Q3 the operating result (EBIT) was PLN 4.2 million and increased by PLN 0.6 million (18%) YOY, while EBITDA reached PLN 5.0 million and increased by PLN 0.8 million (20%) YOY. EBITDA as a % of sales was over 11%. Incremental EBITDA for the three quarters was PLN 12.2 million; it increased by PLN 1.0 million (9%), and as a % of sales it accounts for 10%. Such good financial results are the effect of both increased production capacity in Thailand and a consistently extended global distribution network.

We are pleased with the results achieved. They prove the validity of our development strategy. Revenues and profits would certainly be even better if it were not for a decrease in prices of natural latex – the main raw material for production – by approximately 20% per year”, said Wiesław Żyznowski, President of the Management Board, Mercator Medical S.A.

Increased sales of goods was achieved in all assortments, especially gloves. It was possible mainly due to the launch of a new double production line in 2014 at the factory owned by Mercator Medical (Thailand) Ltd. This increased the production capacity from 40 to 56 million gloves per month. At the end of October 2014, the second of the four new lines was launched, as well as a new power boiler (increasing the production capacity to 76 million), and the third line is planned to be launched in December 2014 as part of the project to bring the production to the target level of 100 – 110 million per month.

The Group has also established a commercial presence in the USA, which opens up a wide range of distribution possibilities in North America.

In the coming quarters, the Mercator Group is planning to continue reinforcing its leading position on the domestic market, to become a leading distributor in Central and Eastern European countries, and to expand on the global market, in particular on the North American markets, where the delivery of around 30% of production is planned.

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The Mercator Medical Group is a leader in Poland and one of the key players in Central and Eastern Europe on the market of single-use medical gloves. Mercator Medical has a production plant for medical gloves in Thailand. It operates globally in over 40 countries, offering approx. 120 own products. The dominant range are single-use gloves, which generate nearly 90% of revenues. The assortment offered by Mercator Medical is complemented by medical dressings and nonwoven protective products, such a single-use medical clothing and surgical drape sheets. Mercator Medical’s customers are healthcare units, industrial plants, retail chains and pharmaceutical wholesalers.

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