2021 3 months consolidated unaudited interim report
May 06, 2021 01:00 ET | Source: Merko Ehitus AS Merko Ehitus AS
COMMENTARY FROM MANAGEMENT
In Q1 2021, Merko Ehitus posted revenue of EUR 60 million and net profit of EUR 3.4 million, increasing by 7% and 67%, respectively, compared to the previous year. In three months, Merko sold 90 apartments and started construction of more than 560 apartments. The volume of the new construction contracts and secured order book also increased in the first quarter.
The management of Merko Ehitus is satisfied with the financial results of the first quarter. Despite the lack of new commercial real estate projects, the construction market in the Baltic Republics is currently quite active. At the same time, prospects remain unclear due to the continuing pandemic and the global rise in material prices.