MRK1T Merko Ehitus (New)

Construction contract in Estonia (school building in Tallinn)

Construction contract in Estonia (school building in Tallinn)

On 14 February 2020, AS Merko Ehitus Eesti, part of AS Merko Ehitus group, and Tallinn City Property Department entered into a contract for the reconstruction of Tallinn Arte Gymnasium located at E. Vilde tee 62, Tallinn.

The contract includes reconstruction of the existing school building, extensions of the school and sports buildings and reconstruction of the stadium area. In addition, the school complex’s external utility networks will be renewed, and roads and squares will be built.

The contract value is approximately EUR 7.7 million, plus value added tax. The works are scheduled to be completed in May 2021.

AS Merko Ehitus Eesti () is Estonian leading construction company, which offers construction services in general construction, civil engineering, road, electrical and residential construction.

Additional information: AS Merko Ehitus Eesti Member of the Management Board, Mr. Jaan Mäe, tel. .

Priit Roosimägi

Head of Group Finance Unit

AS Merko Ehitus





   

   

AS Merko Ehitus () group consists of AS Merko Ehitus Eesti in Estonia, SIA Merks in Latvia, UAB Merko Statyba in Lithuania and Peritus Entreprenør AS in Norway. Besides providing construction service as a main contractor, the group’s other major area of activity is apartment development. As at the end of 2019, the group employed 694 people, and the group’s revenue for 2019 was EUR 327 million.

EN
14/02/2020

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Reports by Merko Ehitus (New)

Shana Gavron

LHV Institutional Weekly Review, February 14th, 2020

* Estonia: Q4 results reviews for Coop Pank (CPA1T ET) and Merko Ehitus (MRK1T ET) * Lithuania: Q4 results reviews for Klaipedos Nafta (KNF1L LH) and Novaturas (NTU1L LH) * Key metrics for stocks covered.

Shana Gavron

LHV Institutional Baltic Insight, February 14th, 2020

* Merko Ehitus’ (MRK1T ET) Q4 2019 results, published on 13 February 2020, are notably better than our expectations. Although the company recorded a significant decline in revenue, the improvement in profitability positively surprised us. * The improvement in profitability was primarily a result of two factors, i.e. better selection of construction projects and higher contribution in the total revenues from the real estate development segment which has better profitability compared to the construction services segment. * Although it is commendable that despite the prevailing competition situat...

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