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Mercator Medical sums up the year 2021

The Mercator Medical Group, a manufacturer of disposable gloves and a distributor of disposable medical materials, for …

The Mercator Medical Group, a manufacturer of disposable gloves and a distributor of disposable medical materials, for obvious reasons did not repeat the record results of the pandemic 2020, but nevertheless recorded high profits in 2021 and accumulated substantial financial resources in excess of half a billion zlotys.

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* construction of factory no. 3 underway (approximately PLN 130 million spent in 2021), repurchase of treasury shares settled PLN 312 million

The Mercator Medical Group recorded over PLN 1.7 billion in revenues in 2021, which is slightly less than in the pandemic year 2020. The market's striving for equilibrium naturally corrected its margins more and more from quarter to quarter, but even despite this, Mercator Medical generated nearly 483 PLN millions of consolidated EBITDA and PLN 445 million of net profit.

  • Overall, we made solid profits in 2021 with high margins. At the same time, you should be aware that the extremely favorable market situation in 2020, and especially in its second half, was so unusual that it could not last indefinitely. Extremely high glove prices have triggered increased investment in production capacity and the market is moving towards a new balance, with many challenges facing us now. Hence, the year 2020 is difficult to accept as a rational comparative basis. In turn, compared to 2019, we achieved many times higher results - comments Michał Romański, Member of the Management Board for Finance at Mercator Medical S.A.

In 2021, the Mercator Medical Group generated PLN 503 million in cash flows from operating activities, thanks to which, despite the ongoing investments and payments to shareholders, it had at the end of December this year. PLN 530.5 million of liquid cash.

- At the beginning of August, we transferred PLN 312 million to shareholders as part of the dividend buy-back settlement. We also invested in factory no. 3 in Thailand, where the first production line is already operational and the second is being assembled. In total, we spent about PLN 130 million on this plant in 2021 (THB 1 billion out of the total budget of THB 1.7 billion). The net cash held, virtually no debt, create a lot of space for the implementation of strategic goals. In the short term, our priority is certainly to protect capital in the face of inflationary mechanisms, business uncertainty and rising interest rates - emphasizes Michał Romański, CFO of Mercator Medical S.A. Group.

Last year, the company focused on the largest markets with great business potential, which resulted in a reduction in the number of countries to which shipments were conducted. Among more than 50 countries in which the Mercator Medical Group was active in terms of sales in 2021, the largest share - about 19% each - belonged to the United States and Poland. The Great Britain came in third place. Great Britain, and with sales exceeding PLN 100 million, it also exceeded the Swedish market. Western Europe accounted for a total of 41% of consolidated revenues,  which confirms the success of Mercator Medical Group's expansion on mature Western markets. As much as 60% of the Group's revenues came from Western Europe and the USA, and as many as four out of every five zlotys of sales were booked thanks to the activity on the markets of Poland, Western Europe and the USA.

As part of the ESG activities, the Mercator Medical Group continued in 2021 to support the fight against the coronavirus pandemic, and in 2022 it additionally became involved in aid initiatives for Ukraine and its citizens. The Group also invests, inter alia, in in environmental projects such as an industrial water recycling system and a solar farm.


Mercator Medical S.A. based in Krakow is a manufacturer of disposable gloves and a distributor of disposable medical materials. In these markets, it is one of the most important players in Poland and an important player in the international arena. The history of the company dates back to 1989.

Thanks to the construction of the second glove factory in Thailand (the last production line commissioned in September 2018), the company's production capacity increased by 150% - to over 3 billion gloves per year. In the first quarter of 2022, the first production line was launched in the third disposable glove factory (target production capacity of over 0.8 billion items per year). Together with the distribution of gloves purchased from external suppliers, the total sales potential of the Mercator Medical Group can be estimated at over 6 billion gloves per year. The main sales markets in 2021 are the US, Poland and the UK. Great Britain, but Mercator Medical's operations are global - sales through its own distribution companies and through external, local distributors took place in over 50 countries, and the company is constantly expanding geographically.

Since November 2013, the shares of Mercator Medical S.A. are listed on the regulated market of the Warsaw Stock Exchange. In March 2021, they were included in the main stock exchange index - WIG20, and since March 2022 they have been included in the mWIG40 index. More information on the website:

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