Latvia
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Merko Ehitus grows both sales revenue and net profit in Q2
Merko Ehitus’s Q2 and first half-year revenue and net profit outpaced the respective figures for last year. Sales revenue in Q2 was EUR 70.7 million and net profit was EUR 2.2 million; while 6-month sales revenue was EUR 128.8 million and net profit was EUR 3.2 million. This year, the group’s contract portfolio has increased …
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Merko Ehitus increases revenue and profit in Q1
In Q1 of 2017, Merko Ehitus posted revenue of EUR 58.1 million and a net profit of EUR 1 million. Revenue grew both in Estonia and in other home markets, apartment sales picked up as well. In the first quarter, Merko sold 141 apartments compared to 101 in the same period last year. “Our first …
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Merko starts construction of Akropole, destined to be Riga’s biggest shopping centre
On 7 April, Merko’s Latvian subsidiary SIA Merks and SIA M257 concluded a construction contract under which SIA Merks will start building the multifunctional Akropole Centre in Riga. The total floor space in what will be Latvia’s largest such facility is 98,000 m² and the value of the construction contract is approximately EUR 100 million. …
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Merko Ehitus posted EUR 252 million in revenue in 2016, proposing to pay EUR 0.41 in dividends per share
Merko Ehitus posted revenue of EUR 252 million in 2016, remaining on par with the last year; the net profit amounted to EUR 6.1 million. The group continued to implement its long-term apartment-building strategy, investing a total of EUR 73 million in residential development. The company’s Management Board proposes to pay 119% of retained earnings …
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Merko’s Q3 revenue stays at last year’s level
Merko Ehitus posted revenue of EUR 67.8 million in Q3 2016, remaining on par with the same quarter in 2015. As of the nine-month mark, revenue has been held back by the slower than planned launch of large-scale projects. In the first 9 months of 2016, the company sold close to 270 apartments and launched …
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SIA Merks has completed the construction of an international school in Piņķi
The Latvian construction company SIA Merks has completed the construction of Exupéry International School in Piņķi, a suburban area located between Riga and Jurmala, in under a year. The new school accommodates 200 pupils and over 120 children in the kindergarten. The construction of the Exupéry International School building was carried out using the latest …
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Merko Ehitus profitability improves in Q2
In Q2 of 2016, Merko Ehitus posted revenue of EUR 58.7 million, EBIDTA of EUR 3.4 million and profit before taxes of EUR 2.4 million. Gross profit margin increased to 9% in the second quarter and the group’s construction contract order book reached EUR 279 million. The Baltic construction market – in a slump with …
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Great Amber Concert Hall in Liepāja is the Popular Choice Winner in international architectural competition
Liepāja Concert Hall, opened in November 2015, has received the Popular Choice Award in the prestigious architectural competition Architizer A+ Awards in the hall/theatre category. The architect of the building is Volker Giencke and the main contractor SIA Merks, part of Merko Ehitus group. A+Award is one of the most prestigious architecture competition with projects …
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Real estate development buoys Merko Q1 results, plans to start construction of over 500 apartments this year
Merko Ehitus posted revenue of EUR 46.8 million in Q1 2016, EBIDTA of EUR 1.2 million and profits before taxes of EUR 0.3 million. Merko continues to focus on private sector customers and real estate development, and the share of revenue from the latter increased to 42% of the group’s total Q1 revenue. Merko sold …
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Merko Ehitus subsidiary acquires majority holding in Norwegian construction company
Merko Ehitus subsidiary Merko Investments AS has acquired a 56% holding in Norwegian construction company Peritus Entreprenør AS in order to provide construction services on the Norwegian market. On 7 March 2016, Merko Ehitus subsidiary Merko Investments AS entered into agreements with Norway’s SDV Golding AS and Aucon AS to acquire a 56% stake in …