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In the first half of the year, the net profit of Mercator Medical increased by 25% to over PLN 7 million.

Mercator Medical, a manufacturer and distributor of medical gloves listed on the WSE, earned PLN 128.5 million in reven…

Mercator Medical, a manufacturer and distributor of medical gloves listed on the WSE, earned PLN 128.5 million in revenues from January to June, which is 27% more than in the same period a year earlier.

EBITDA result exceeded PLN 12.3 million and was nearly 17% higher YOY. The company reached PLN 7.2 million in net profit, which is over 25% more than in 1H 2015. In Q2 alone, revenues rose by 30% YOY and reached PLN 69.1 million, EBITDA rose by 16% YOY to PLN 6.3 million, and net profit – by 69% YOY to PLN 4.4 million. In August, Mercator Medical is launching the updated 2016-2018 strategy, which aims to significantly increase the Group’s scale of operations and to help it become a medium-sized player in the global medical glove market.

The company obtained higher revenues both in the medical glove segment and in the nonwoven products segment. Importantly, sales increased in markets which are particularly important from the company’s perspective, such as the USA, Russia, Poland, Hungary and the Czech Republic. In the United States, sales in the first half of 2016 rose by over 100% to PLN 16.9 million.

The financial results of the Mercator Medical Group in the first half of the year confirm the continuing upward trend of our organisation. We are constantly increasing sales while maintaining high margins. The growth of the business scale results from the achievement of the strategic objective, i.e. the extension of the medical gloves factory in Thailand finished in 2015”, explains Wiesław Żyznowski, PhD, co-founder of Mercator Medical, its main shareholder and President of the Management Board. “Expenditure on health care is growing, and so is demand for medical gloves. Independent reports indicate that the global dynamics of this growth is around 6% per year. This means that we are developing much faster than the market. We want to keep it up in the coming years”, he adds.

Mercator Medical bought a production plant in Thailand in 2006. In 2013, the company made its debut on the WSE and issued shares to acquire PLN 29 million. These funds were mainly devoted to the extension of the plant, which allowed for doubling of production capacity to reach 1.2 billion units per year. Throughout 2015, the company earned PLN 226.6 million of revenues, which means an increase of 34% compared to 2014.

We have successfully fulfilled the promise made to our shareholders. Mercator Medical is developing very dynamically and there is no indication that it will change in the coming years. The growth rate will also be stimulated by implementation of our strategic plans”, explains Wiesław Żyznowski.

In August 2016, the company presented its strategy for 2016-2018. It is based on four pillars: construction of a second factory of medical gloves in Thailand (to manufacture nitrile gloves, which are becoming the fastest-growing segment in the global market of single-use medical gloves), a factory of single-use nonwoven products in Poland, a strong expansion in Western Europe, and a reinforced position in Central and Eastern European markets, including in Russia.

As a result of the construction of a second factory in Thailand, the Group’s production capacity is expected to increase by approx. 150% and reach 3 billion gloves per year.

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