Merko Ehitus reported sales revenue of 74 million euros in Q3 2025 and 242 million euros in the first 9 months. Q3 net profit was 15.0 million, with a 9-month net profit of 36.7 million euros. The company delivered 55% more apartments and commercial properties to buyers compared to the previous year.
The completion of key projects like Arteri Quarter and Pabrade Fortress led Merko Ehitus to its normal revenue structure. Real estate development revenue accounted for over a quarter of sales revenue, improving profit margins. The real estate market remains active in Lithuania, with Estonia improving and Latvia showing slight growth.
Construction projects are scarce, mainly large-scale with intense competition and low service margins. Merko secured significant Rail Baltica contracts, with future construction reflecting in upcoming quarters. The company’s construction backlog is historically high. The financial position is strong, with negative net debt.
Merko signed new construction contracts worth 323 million euros in the first 9 months of 2025. Major projects included Rail Baltica Terminal, a hotel in Pärnu, and wind farm infrastructure in Latvia. The company handed over 315 apartments and 3 commercial properties in Estonia, Latvia, and Lithuania in the first 9 months of 2025.
In the third quarter of 2025, major ongoing projects included the Hyatt hotel, Kullo Center, and City Plaza 2 office building in Tallinn. In Lithuania, wind farm infrastructure projects were prominent, while Latvia focused on solar parks and student housing. Financially, Merko Ehitus saw a 36.1% decrease in sales revenue in the first 9 months of 2025.
Merko Ehitus posted a net profit before taxes of 40.2 million euros in the first 9 months of 2025, with a margin of 16.6%. The company’s sales revenue for Q3 was 73.9 million euros, reflecting a 36.1% decrease compared to the previous year. The backlog of unfinished work was 486.2 million euros as of September 30, 2025.
Read more at GlobeNewswire: 2025. aasta 9 kuu ja III kvartali konsolideeritud