Mercator Medical Group, a manufacturer of disposable gloves and distributor of medical materials, reported a stable level of sales revenue in the first quarter of 2026, at PLN 145.6 million, compared with PLN 147.6 million in the same period last year. Gross margin on sales of products and goods rose by 35.9% year on year to PLN 38 million.
EBITDA reached PLN 15.4 million, representing an increase of 185% compared with PLN 5.4 million a year earlier. The Group’s net profit amounted to PLN 12.9 million, compared with PLN 30.3 million in the first quarter of last year. The significant difference in net profit was mainly due to the surplus of positive over negative foreign exchange differences recognised in financial income, which amounted to PLN 19.4 million in Q1 2025 compared with PLN 0.9 million in Q1 2026.
In the first quarter of this year, Mercator Medical Group sold a total of nearly 1.6 billion gloves, an increase of 11% year on year.
“In the first quarter, we achieved our key sales objectives, strengthening the Group’s position on its most important markets and improving operational efficiency. The market environment was also affected by the situation in the Strait of Hormuz region, which influenced the supply and prices of crude oil and products linked to the petrochemical market. In the Group’s case, this supported the distribution segment, while not exerting significant pressure on manufacturing operations in Thailand. We are steadily developing our product portfolio, increasing the share of premium products and BIO gloves, which respond to customer expectations. We are also continuing investments aimed at reducing costs, including the cogeneration project in Thailand, which is planned for completion in the second quarter. Once launched, the installation should increase the plant’s energy security and have a positive impact on the profitability of the manufacturing segment. We are also consistently developing the real estate segment through Mercator Estates, focusing on premium projects and analysing further investments for which we have secured funds,” says Monika Żyznowska, President of the Management Board of Mercator Medical Group S.A.
In the first quarter of 2026, Mercator Medical Group sold a total of 1,574.8 million gloves, an increase of 155.2 million units, or 10.9% year on year. At the same time, the Group continued to develop complementary products. Sales revenue from nonwoven materials increased to PLN 11 million, up PLN 2.7 million, or 32.5% year on year, while its share in the sales structure rose to 7.5%, compared with 5.6% a year earlier.
The United States remained Mercator Medical Group’s largest sales market, accounting for 36% of total sales. The Group maintained a stable level of sales there, comparable with the previous year, at PLN 52.9 million. In Poland, its second most important market, the Group recorded growth of 21% year on year, to PLN 40.9 million. Mercator Medical also maintained stable sales in Central and Eastern European countries.
“We maintained a stable level of revenue year on year while improving the profitability of our operating activities, which was reflected in a higher EBITDA result. Operating costs decreased by 7.5% year on year, to PLN 138.9 million. This was due, among other things, to the continuation of measures aimed at improving cost efficiency. The difference at the net profit level resulted primarily from a lower level of positive foreign exchange differences recognised in financial income than in the same period last year. The balance of positive and negative foreign exchange differences in the first quarter of 2026 amounted to PLN 0.9 million, compared with PLN 19.4 million in the same period last year,” says Mariusz Popek, Member of the Management Board of Mercator Medical.
The stable financial position of Mercator Medical Group enables it to consistently pursue its development objectives and carry out new investment projects. At the end of March 2026, the Group held approximately PLN 204 million in net cash and other financial assets, providing a solid base for further business development.
As part of the real estate segment, subsidiary Mercator Estates continued activities related to the development of its investment portfolio and the preparation of further residential projects. Four development projects are currently under construction or preparation.
In the first quarter of 2026, Mercator Estates announced the selection of the most favourable offer for the purchase of a property in Katowice worth PLN 28.5 million, with the final agreement concluded in April this year. In addition, a conditional preliminary agreement was signed for the acquisition of a property in Kraków for PLN 17.3 million. The company plans to further develop its property development activity, carry out additional acquisitions and strengthen the competencies needed to manage investments independently.
Source: CEO.com.pl
