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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Merko Ehitus
Merko Ehitus (MRK1T) investor relations material
Merko Ehitus Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary5 Nov, 2026
Executive summary
9M 2026 revenue rose 10.9% YoY to €268.1m, while net profit attributable to shareholders fell to €25.4m from €36.7m.
Q3 revenue reached €118.2m and net profit was €12.6m; the secured order book was €769.1m at 30 September.
Financial highlights
9M gross profit was €33.2m versus €47.1m YoY; operating profit was €20.2m versus €31.6m, and pre-tax profit was €25.0m versus €40.2m.
9M gross margin was 12.4% versus 19.5% YoY; operating margin was 7.5% versus 13.1%, and net margin was 9.5% versus 15.2%.
Q3 revenue increased to €118.2m from €73.9m YoY; gross profit was €15.8m versus €18.0m and operating profit was €11.8m versus €13.0m.
9M EPS was €1.44 versus €2.07 YoY; Q3 EPS was €0.71 versus €0.85.
Outlook and guidance
Construction cost indices are expected not to decline over the next 12 months; a cold winter could trigger further price increases.
Moderate growth is expected in Baltic construction markets; construction activity is likely to remain reliant on public-sector projects, especially defence and renewable energy.
2026 new-development market volume is expected to be comparable to 2025; demand is growing for more affordable housing.
Priorities are completing active projects and controlling risks amid a strong secured order book.
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Latest events from Merko Ehitus
- Record order book offsets profit decline as public sector drives growth amid rising costs.MRK1T
Q2 2026 - Revenue and profit fell, but a record order book signals strong future growth.MRK1TQ1 2026
- Revenue fell 42%, but margins held and the order book reached a record high.MRK1TQ4 2025
- Revenue fell but margins and order book improved; real estate development surged.MRK1TQ3 2025
- Net profit rose 24.6% year-over-year in H1 2025 despite a 17.5% revenue decline.MRK1TQ2 2025
- Net profit rose to €44.8 million on 11.4% higher revenue, with robust construction margins.MRK1TQ3 2024
- Revenue down, but strong construction services and order book signal resilience.MRK1TQ2 2024
- Net profit more than doubled in Q1 2025 on strong real estate development and margin gains.MRK1TQ1 2025
- 2024 saw record profit and revenue growth, but a shrinking order book signals caution ahead.MRK1TQ4 2024
Next Merko Ehitus earnings date
Q4 20265 Feb, 2027
Merko Ehitus
Next Merko Ehitus earnings date
Q4 20265 Feb, 2027
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Frequently asked questions
AS Merko Ehitus is an Estonia-based construction and real estate development company. It operates through several subsidiaries and focuses on the construction of buildings, infrastructure, and roads. Additionally, the company is active in real estate development, which involves the construction, sale, and leasing of properties, with projects primarily in Estonia, Latvia, and Lithuania. Merko Ehitus is involved in various large-scale projects, including residential developments, commercial buildings, and infrastructure projects such as energy facilities and transportation terminals. The company is headquartered in Tallinn, Estonia, and its shares are listed on the Nasdaq Tallinn.