OREANDA-NEWS. Merko Ehitus releases 2014 6 months and II quarter consolidated unaudited interim report.

Overview of the 6 months and II quarter results

REVENUE

Revenue in 6M 2014 was EUR 113.7 million (6M 2013: EUR 113.7 million), which is at the same level compared to the same period last year. Q2 revenue was EUR 64.8 million (Q2 2013: EUR 65.9 million). The share of revenue earned outside of Estonia has incresed in 6M 2014 to 30.7% (6M 2013: 18.4%).

PROFITABILITY

Net profit in 6M was EUR 4.4 million (comparable figure in 6M 2013: EUR 4.0 million). Q2 net profit was EUR 3.6 million (Q2 2013: EUR 2.3 million). Gross margin in 6M was 8.9% (6M 2013: 8.6%), which has increased by 2.6% compared to the same period last year.

CASH POSITION

At the end of the reporting period, the group had EUR 43.4 million in cash and cash equivalents and equity EUR 119.0 million (48.8% of total assets). Comparable figures as at 30 June 2013 were accordingly EUR 33.8 million (incl EUR 2.5 million short-term deposits) and EUR 115.5 million (48.8% of total assets).

SECURED ORDER BOOK

In Q2 2014, group companies signed new contracts in the amount of EUR 21.7 million (Q2 2013: EUR 51.3 million). 6M 2014 new contracts signed in amount of EUR 70.3 million (6M 2013: EUR 95.5 million). As at 30 June 2014, the group's secured order book stood at EUR 191.6 million (30 June 2013: EUR 184.4 million).