Mercator Medical Group's H1 revenue tops PLN 337 million as net profit rises 170%

Mercator Medical Group, a manufacturer of disposable gloves and distributor of medical supplies, generated consolidated sales revenue of PLN 337.2 million in the first half of 2026, up 16% year on year. Gross profit on sales of products and goods increased by PLN 59.7 million, or 123% y/y. EBITDA reached PLN 61.4 million, compared with negative EBITDA of PLN 0.7 million a year earlier, while net profit rose 170% to PLN 57.7 million. The key driver of the improvement was higher sales profitability, resulting from wider margins, a more favourable sales mix and better purchasing terms for some goods.

"The first half of the year was marked by significant market volatility, driven among other things by the geopolitical situation in the Middle East and disruptions around the Strait of Hormuz. These factors affected the availability of certain raw materials, transport costs and product prices. In the diagnostic gloves segment, this translated into higher selling prices, which, combined with higher volumes, had a positive impact on the Group's revenue and results. In the coming quarters, we expect demand to stabilise, while production and purchasing costs remain elevated, which may affect margins," said Monika Żyznowska, President of the Management Board of Mercator Medical S.A.

In the first half of the year, the Group increased sales in its key markets. Growth was particularly strong in the United States, which accounted for 40.6% of total sales, where sales reached almost PLN 136.8 million (+29.3% y/y). The Group also strengthened its position in Poland, where sales rose 17.1% to PLN 81 million. Sales in the Czech Republic increased 56.8% y/y to nearly PLN 13.5 million, and in Germany by 32.2% to almost PLN 12.4 million. Among its leading markets, the Group recorded an 11% decline in sales in Romania in the first half.

Mercator Medical Group continued to expand its product portfolio, increasing sales of products complementary to its core glove business. Revenue from nonwovens grew by PLN 4.4 million (26.1% y/y) to PLN 21.2 million, confirming the growing importance of this category in the Group's sales mix. The household gloves segment also saw significant growth, with sales volume rising to 21.4 million pieces from 5.1 million in the same period of 2025.

In the manufacturing segment, the second quarter of 2026 brought a marked improvement in sales performance at Mercator Medical Thailand. Sales revenue rose significantly, mainly as a result of aligning average selling prices with rising raw material costs. At the same time, ongoing optimisation efforts, automation of production processes and diversification of supply sources helped contain cost pressure and maintain profitability. Despite volatility in raw material and energy markets, higher logistics costs and rising prices of petroleum-based components, including synthetic latex, the company maintained production continuity, and its EBITDA margin exceeded the target level.

The cogeneration project at the plant in Thailand, now in its final stage of implementation, remains an important element in improving the efficiency of the manufacturing segment.

In the distribution segment, Mercator Medical Group continued to develop its product portfolio in the first half of 2026. Favourable demand conditions, particularly for disposable gloves, resulted in sales above budget, improved inventory turnover and more efficient working capital management. At the same time, the Group effectively managed purchasing and logistics risk, mitigating the impact of volatility in raw material markets and transport costs, as well as supply chain disruptions. The distribution segment was also supported by optimisation measures in logistics, purchase planning and sales channels, as well as the ongoing reorganisation of the distribution model aimed at simplifying the operating structure and improving profitability.

Mercator Medical Group is developing its real estate segment through its subsidiary Mercator Estates as an important part of diversifying its business. Mercator Estates is currently running five development projects in the premium and upper-mid-market segments: the revitalisation of tenement buildings on Lubicz and Westerplatte Streets in Kraków, a residential project on Wodna Street in Kraków, a hotel development near Kraków's Błonia, the revitalisation of Sanato in Zakopane, and a project at 41 Paderewskiego Street in Katowice. In the first half of 2026, the company focused on acquisitions and on preparing its projects for execution.

At the beginning of August, Mercator Medical Group paid a dividend totalling PLN 15 million, or PLN 1.64 gross per share. In accordance with the resolution of the Annual General Meeting of 30 June 2026, the dividend was funded with PLN 6.1 million from 2025 profit and PLN 8.9 million from retained earnings of previous years.

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Mercator Medical Group, headquartered in Kraków, is a manufacturer of disposable gloves and a distributor of single-use medical supplies. It is one of the leading companies in Poland and a recognised player internationally. The company's history dates back to 1989. Mercator Medical Group operates a manufacturing centre in Thailand and is also engaged in distribution, including products from third-party suppliers. Its operations are international in scope, with products sold in several dozen countries through the Group's own distribution companies and external local distributors. In 2025, the Group sold almost 5.9 billion disposable gloves. Mercator Medical S.A. shares have been listed on the regulated market of the Warsaw Stock Exchange since November 2013. In March 2021, they were included in the WIG20, the WSE's main index, and are currently part of the sWIG80 index.

In 2024, Monika Żyznowska, CEO of Mercator Medical, was appointed to the Issuers' Council at the President of the Warsaw Stock Exchange.