Mercator Saw Higher Revenues, Profits in 2019

By , 27 Apr 2020, 12:16 PM Business
Mercator Saw Higher Revenues, Profits in 2019

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STA, 25 April 2020 - Retailer Mercator saw its sales revenue increase by 1.8% to EUR 2.14 billion in 2019 as net profit nearly tripled to EUR 4.7 million from EUR 1.6 million in 2018. Mercator also reduced its debt.

Revenue from retail sales, Mercator's core business, increased by 2.2% to EUR 1.7 billion.

Normalised gross operating profit (EBITDA) rose by more than 60% to EUR 172.5 million.

The retail group reduced its debt by almost a quarter last year, mostly as a result of its real estate monetisation. Net financial debt by comparable standards amounted to EUR 587 million and the net debt-to-EBITDA ratio was reduced from 7.2 to 5.2.

Mercator, a Ljubljana-based group, is part of the insolvent Croatian holding Agrokor.

Its transfer to Fortenova, Agrokor's successor, has been suspended after the Slovenian Competition Protection Agency temporarily seized Mercator shares Agrokor as security for a fine.

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