Merkanti Holding plc - Updated Financial Analysis Summary

On 30 June 2021, Merkanti Holding plc published an updated Financial Analysis Summary (“FAS”) providing an overview of the financial results the Merkanti Group in 2020, a comparison of these results with the forecasts published in the previous FAS dated 30 June 2020, as well as the forecasts for the current financial year ending 31 December 2021.

The following are the main highlights of the expected financial performance and position of Merkanti Holding plc in 2021:

• Net interest income is projected to amount to €0.12 million in 2021 (2020: €0.10 million). Moreover, the issuer expects to generate net fees and commissions amounting to €0.46 million (2020: €0.49 million) which include receivables from related entities.
• Operating income is expected to drop by 43.1% to €1.5 million reflecting reductions in net trading gains and dividend income.
• Administrative expenses are projected to decline by 42.6% to €1.2 million as the Group is expecting lower fee expenses and legal and professional fees.
• Overall, Merkanti is estimating to post a net profit of €0.3 million which is considerably lower than 2020.
• The financial position of the Group is expected to remain virtually unchanged when compared to 31 December 2020 with total assets amounting to €82.6 million. Likewise, total equity is estimated at €53.2 million whilst total liabilities are anticipated to amount to €29.3 million (31 December 2020: €29.4 million).

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Merkanti Holding plc – Financial Analysis Summary dated 30 June 2021.