Wieslaw Zyznowski and Mercator Medical: Success in times of pandemic
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While many industries are experiencing the greatest difficulties of the last years, Wieslaw Zyznowski, CEO of Mercator Medical, went from being a millionaire to a billionaire during the pandemic. As reported by Puls Biznesu, his wealth at its peak increased by as much as 3,500%. The fourth quarter also brought high increases.
Wieslaw Zyznowski the big winner?
Mecator Medical is a Polish company based in Krakow. It manufactures single-use gloves and distributes single-use medical equipment. It has two factories in Thailand. Mecator Medical has invested heavily in the development of its production lines, which has more than paid for itself during the pandemic. According to information provided by Puls Biznesu, Wieslaw Zyznowski became the 7th wealthiest individual investor in terms of assets on the Warsaw Stock Exchange (WSE).
It is worth noting that “stock market analysts typify Mercator Medical as a candidate for Polish WIG20 index and global indices in the perspective of subsequent index composition revisions. Mercator Medical Group is also noticed and appreciated in many competitions and plebiscites, where its dynamic business growth, geographical expansion and strong growth in capitalisation on the WSE are highlighted” – stated in the company’s announcement.
Mercator Medical: sales are not slowing down
Protective gloves and medical protective materials have become a scarce commodity during a pandemic. Therefore, manufacturers and distributors of these products are currently generating very high turnover. This is confirmed by the results presented by Mercator Medical. Indeed, the preliminary estimated results for the fourth quarter of 2020 indicate that the company achieved better results than it did in the very good third quarter of 2020. Indeed, Mercator Medical’s consolidated revenue from sales in this period was PLN 654.1 mln, which is an increase of over 374% compared to the results for the same period a year earlier. Then it was PLN 137.9 mln.
In the fourth quarter the market environment was generally favourable for us and at the beginning of the new year our ambitions remain high. We are still in the environment of unsatisfied demand, therefore in the following months we plan to increase the scale of high-margin spot sales – told Witold Kruszewski, Member of the Management Board for Financial Affairs at Mercator Medical S.A., quoted in the company’s announcement.
Photo: Mercator Medical, production plant ZP3
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