2025 9 months and III quarter consolidated unaudited interim report

Contributing sentiments towards policy:

59% : In Latvia, construction is underway on a solar power plant in Vārme Parish, a student hotel in Riga, and infrastructure in Augstkalni wind farm.
57% : OVERVIEW OF THE III QUARTER AND 9 MONTHS RESULTS PROFITABILITY Advertisement 2025 9 months' pre-tax profit was EUR 40.2 million and Q3 2025 was EUR 16.6 million (9M 2024: EUR 49.6 million and Q3 2024 was EUR 31.3 million), which brought the pre-tax profit margin to 16.6% (9M 2024: 13.1%).
53% : LIABILITIES Current liabilities Borrowings9,54911,54121,303Payables and prepayments92,325161,699129,786Income tax liability316,8387,101Short-term
52% : net profit attributable to equity holders of the parent36,67344,90214,99027,40164,764net profit attributable to non-controlling interest-(65)-(33)(65)Earnings per share for profit attributable to equity holders of the parent (basic and diluted, in EUR)2.072.530.851.543.65CONSOLIDATED STATEMENT OF FINANCIAL POSITION unaudited in thousand euros 30.09.202530.09.202431.12.2024ASSETS Current assets Cash and cash equivalents34,27961,11591,879Short-term deposits26,0005,00010,000Trade and other receivables54,537108,93051,419Prepaid corporate income tax714377270Inventories200,646199,628196,521 316,176375,050350,089Non-current assets Investments in joint ventures30,06025,54921,571Other shares and securities808080Other long-term loans and receivables18,28121,58040,196Deferred income tax assets3,5945,8495,056Investment property12,42612,64512,606Property, plant and equipment18,30616,60917,147Intangible assets703466350 83,45082,77897,006
49% : finance income/costs from investments in subsidiaries-(3,119)-(3,119)(5,087)finance income/costs from joint ventures8,4866,6343,6422,9799,951interest expense(611)(1,469)(216)(353)(1,823)foreign exchange gain (loss)19(931)33(875)(948)other financial income (expenses)6371,4091712971,838Profit before tax40,15649,57516,64531,26776,414 Corporate income tax expense(3,472)(4,867)(1,637)(4,004)(11,820)
49% : provisions8,9787,3257,678 110,883187,403165,868Non-current liabilities Long-term borrowings16,71027,35712,102Deferred income tax liability6,7731,7156,148Other long-term payables7,9596,9258,719 31,44235,99726,969 TOTAL LIABILITIES142,325223,400192,837 EQUITY Non-controlling interests-(220)-Equity attributable to equity holders of the parent Share capital7,9297,9297,929Statutory reserve capital793793793Currency translation differences(52)(16)(41)Retained earnings248,631225,942245,577 257,301234,648254,258TOTAL EQUITY257,301234,428254,258 TOTAL LIABILITIES AND EQUITY399,626457,828447,095 Interim report is attached to the announcement and is also published on NASDAQ Tallinn and Merko's web page (group.merko.ee).

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