Construction, Estonia, Good for Business, Latvia, Real Estate

International Internet Magazine. Baltic States news & analytics Wednesday, 19.06.2019, 04:17

Turnover of Merks construction company up 90.1% in 2018

BC, Tallinn, 12.04.2019.Print version
Latvia’s Merks construction company in 2018 posted EUR 144.415 mln in turnover, up 90.1% from 2017, but the company’s profit dropped 6.3 times to EUR 2.469 mln, according to business database.

91% of Merks’ turnover was ensured by construction of buildings, 7% by sale of apartments built by the company and 2% were other revenue.

In 2018, Merks continued work on several large projects – construction of multifunctional center Akropole, expansion of Alfa shopping mall, construction of Z-Towers project.

The largest project for state and local governments was Ventspils music school.

From early 2018 until April 2019, Merks has concluded new agreements for EUR 54 mln.

In 2017 Merks posted EUR 75.965 mln in sales and earned EUR 15.431 mln in profit.

Merks is owned by Estonian company Merko Ehitus, and is one of the leading construction and real estate development companies in Latvia.

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