Tallinn, Estonia, 2015-04-07 15:30 CEST (GLOBE NEWSWIRE) --
On 7 April 2015 the Supervisory Board of AS Merko Ehitus approved the annual report 2014 and profit allocation proposal prepared by the Management Board of AS Merko Ehitus. The Supervisory Board decided to present the annual report and profit allocation proposal as prepared by the Management Board for the approval of the general meeting of shareholders.
The financial results for 2014 remain unchanged compared to the preliminary disclosure on 12th February 2015. AS Merko Ehitus consolidated audited revenue was EUR 252.3 million and net profit EUR 12.4 million for the year 2014.
The Management Board of AS Merko Ehitus is satisfied with the 2014 results, especially with improved profit figures, growth in Latvia and Lithuania and apartment sales in Estonia. In spite of the complicated market situation, the company was able to increase the group’s net profit by nearly 19% at a revenue level comparable to the year before during last year. The increased efficiency of the group and reorganisation of working processes are largely behind the improved profitability.
The Management Board has made a proposal for the general meeting of the shareholders to pay dividends to shareholders in the total amount of EUR 7.3 million, which makes EUR 0.41 per share. Retained earnings amount to EUR 107.2 million after the profit allocation. The Management Board also proposes to the general meeting of the shareholders to reduce the share capital by a total of EUR 4.1 million (EUR 0.23 per share) by way of reducing the book value of shares.
AS Merko Ehitus audited annual report for 2014 is made available on NASDAQ Tallinn and AS Merko Ehitus web page (group.merko.ee).
Andres Trink
Chairman of the Management Board
AS Merko Ehitus
+372 650 1250
andres.trink@merko.ee
AS Merko Ehitus (group.merko.ee) consists of Estonia’s leading construction company AS Merko Ehitus Eesti, the Latvian-market-oriented SIA Merks, UAB Merko Statyba that is operating on the Lithuanian market and the real estate development business unit along with real estate holding companies. As at the end of the year 2014, the group employed 765 people and the company’s revenue for 2014 was EUR 252.3 million.
