Mercor's Impressive Portfolio of Realizations in Poland and Abroad
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Realizations
The portfolio of realizations includes facilities located in the country and abroad. Realizations include hotel/office facilities, airports, power plants, tunnels, refineries, factories, museums, logistics parks. The group has carried out many implementations in many domestic projects, including airports in largest Polish cities; metro in Warsaw; Hilton hotels in Warsaw, Gdańsk, Łódź; National Library; Kozienice power plant; Copernicus Science Center in Warsaw; National Library.
Also abroad, Mercor can boast of many projects, e.g. a new terminal at Charles de Gaulle Airport in Paris; sewage treatment plant in Henriksdal (Sweden); the RWE coal power plant in the Netherlands; London Olympic Stadium; the AVE high-speed train tunnel in Malaga and Alicante; tunnels in Madrid, Bilbao, Oslo, Al Ras Al Akhadar (UAE), Doha (Qatar).
Orders for the Company's products are correlated with the economic situation in the construction industry. Mercor focuses its attention on cubature construction, i.e. primarily production halls, warehouses, and to a lesser extent office buildings. Multi-family housing construction accounts for a small share of revenues, usually the scope of works concerns ventilation in garage buildings. The company does not focus its attention on infrastructure projects (outside Spain), which largely depend on public procurement.
The company's clients are mainly general contractors for whom the company is a subcontractor. Mercor monitors the situation on the market of planned investments, and obtaining a contract often depends on competences and experience, which puts the Company in a fairly good position on the Polish market. The time elapsing from submitting an offer, through the receipt of an order, to implementation varies and depends on the size of a project. However, the average time from the receipt of an order to the completion of a project is usually 3-4 months.
Due to the relatively short lead time from receipt of the order, there are no inflation clauses in contractual provisions or clauses protecting against an increase in the prices of materials necessary for production. In the recent period, there was a good economic situation on the market, which can be seen in the increased value of orders. The company recorded the biggest jump in 2021/22, when the value of orders increased by 27% y/y to PLN 530 million.
The value of orders from the last 12 months (August 2022-July 2023) amounted to PLN 620 million and was higher by 15% y/y. However, the value of orders in July 2023 was similar to the previous year’s level.
