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Further record results of the Mercator Medical Group: estimated EBITDA reaches PLN 414 million in Q4 2020

The Mercator Medical Group, a manufacturer of medical gloves and a distributor of single-use medical materials based in…

The Mercator Medical Group, a manufacturer of medical gloves and a distributor of single-use medical materials based in Krakow, has presented preliminary estimated results for Q4 2020. The company beat successive records – according to the estimates, it exceeded PLN 654 million in revenues, generating nearly PLN 414 million in EBITDA result and almost PLN 370 million in net profit.

Selected consolidated financial results:


Q1 2020

Q2 2020

Q3 2020

Q4 2020*


million PLN

Year-to-year change

million PLN

Year-to-year change

million PLN

Year-to-year change

million PLN

Year-to-year change



















EBITDA margin


+15.9 pp


+57.5 pp


+58.9 pp


+57.7 pp

Net profit/loss









Net cash**









* preliminary, estimated results published in the current report no. 2/2021   ** cash less debt

The situation on the global market for single-use protective and medical gloves is favourable for manufacturers and distributors of this product range. Each successive quarter of 2020 also meant a record scale of activity and generated profits by the Mercator Medical Group. The published preliminary estimated results for the fourth quarter show that the results of the extremely strong third quarter have been surpassed. Consolidated sales increased to over PLN 654 million, which means that it was more than five times higher compared to the last year. At the same time, the Mercator Medical Group earned the estimated EBITDA of PLN 413.6 million, which yielded a net profit of almost PLN 370 million, in the period October–December 2020. These are absolutely the best results in the history of the Company, but the situation looks optimistic for further periods as well.

“The market environment was generally favourable for us in the fourth quarter, and our ambitions remain high at the beginning of the new year. We are still in the environment of unsatisfied demand, so we are planning to increase the scale of high-margin spot sales in further months,” points out Witold Kruszewski, Member of the Management Board for Finance at Mercator Medical S.A.

“After the end of the third quarter, we indicated that the fourth quarter may be even better. And so it happened – we have achieved our goals. These great results are the fruits of the effectiveness of the international team of the Mercator Medical Group and our market attributes, which we will reinforce as a part of the strategy for the next years under finalisation. Further records mobilise us to further intense work and raise the goals pursued by us,” adds Witold Kruszewski.

It should be stressed that in addition to maximising results for the Mercator Medical Group, the generated cash is important. At the end of September, according to preliminary estimates, the Group – in spite of its naturally higher engagement with regard to advance payments to suppliers and inventories – had around PLN 535.4 million in net cash (cash on accounts less financial debt) with a lack of investment loans (all of them were repaid ahead of time at the end of the third quarter – over PLN 75.5 million, Current Report 44/2020).

The final financial results along with details will be included in the Mercator Medical Group’s interim report for the year 2020. The time of publication of the report will be announced by the end of January this year in the schedule of periodic publications for the year 2021.

It is worth noting that following the growing interest of investors in the Mercator Medical Group, which is reflected in the company's capitalisation and liquidity of its shares, securities of Mercator Medical advanced to the mWIG40 index in June 2020, and the company’s securities futures have been traded on the Warsaw Stock Exchange since October. Since December, the company has also been included in the MSCI Small Caps index. Stock analysts indicate Mercator Medical as a candidate for the Polish WIG20 index in the perspective of subsequent index composition revisions. Moreover, the Mercator Medical Group is recognised and appreciated in many competitions and contests, where its dynamic business growth, geographical expansion and strong increase of capitalisation at the WSE are emphasised. The “Forbes” Family Ambassador of the Year (Rodzinny Ambasador Roku) title was awarded to Mercator Medical and received by Dr. Wiesław Żyznowski, the founder and the president of the company. Mercator Medical was also awarded a distinction in the Foreign Investment Pioneer (Pionier Inwestycji Zagranicznych) category of the competition “Polish Company – International Champion” (Polska Firma – Międzynarodowy Czempion) organised by PwC Polska and Puls Biznesu. The company debuted in the 22nd edition of the “Lista 500” ranking compiled by Rzeczpospolita and received the Eagle of the Republic award (Orzeł Rzeczpospolitej) in the Debut category; in addition, it was awarded the Investor Without Borders title (Inwestor bez granic) granted annually as part of the European Economic Congress in Katowice to the most effective Polish investors expanding internationally.

At the same time, since the beginning of the pandemic, Mercator Medical has been actively involved in the fight against COVID-19 by donating personal protective equipment from its own portfolio to numerous medical and care facilities. To date, Mercator Medical has already donated over 1.6 million examination gloves and 50,000 face masks to almost 60 different institutions, mainly hospitals, nursing homes, hospices and foundations, as well as to the Police Headquarters, the Material Reserves Agency and the Ministry of Health. At present, the company is carrying out the #TogetherAgainstTheVirus (#WspólniePrzeciwWirusowi) campaign to support medical and care facilities by donating personal protective equipment from its own portfolio.

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