Growth of Income of Mercator Group in Q1 2021

In the first quarter of 2021, Mercator Group recorded a growth of normalized EBITDA of 7.4%, which, in this period, amounted to EUR 47.3 million, the group announced. The company ended the first quarter of 2021 with a profit of EUR 3.1 million, which is a growth of 183.9% compared to the same period last year.

Income from retail, as the main activity of Mercator Group, increased by 8.9% in the first quarter of 2021, compared to the same period in 2019 (the year preceding the outbreak of coronavirus).

– We have managed to recover nearly 60% of the sales network, we invest a lot in service quality, prices and personalized offer. Our market shares are growing due to this. In addition to successful operations when it comes to EBITDA and net profit, Mercator Group has reduced its debts once again, and net financial debts are 5.5% lower than last year. In the first quarter, we continued the planned investments which will keep ensuring the successful development of the group – said Tomislav Cizmic, the president of the management of Mercator.

Acquisition of Mercator

At the end of the first quarter of 2021, key activities in the project of transfer of Mercator to Fortenova Group took place.

At the time, Sberbank transferred 1,123,803 shares, or more than 18.53% of the ownership over Mercator to Fortenova Group TopCo. The Supervisory Board of Mercator approved the financial arrangement with Fortenova Group on a reprogram of Mercator’s financial obligations, which are due in June, whereby the final key requirement for the transfer of the share of Mercator from Agrokor to Fortenova Group was met.

Mercator then also signed the amended agreement regarding the Superior Facility debt toward VTB Europe worth EUR 80 million, which is due. All the conditions thereby met for Mercator Group to become part of Fortenova Group – a stable and financially successful owner, which will ensure the further accelerated development of Mercator.

Poslovni sistem Mercator d.d. Ljubljana

Fortenova grupa d.d.

SBERBANK Rusija

Mercator Group

Fortenova Group TopCo

Sberbank

Agrokor

VTB Europe

Tomislav Čizmić

income

EBITDA

pandemic

coronavirus