Marel reports record revenues in second quarter

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Marel attributes record growth to innovation, a strong order intake and improved operational results in the second quarter.

In an investor presentation entitled “Smarter Processing“, the processor equipment producers have revealed its revenues were a record EUR 297m in 2Q18 and the adjusted EBIT margin was 14.6%. EBIT was EUR 43m, up 20% year-on-year.

Overall total orders received in Q2 2018 amounted to EUR 291 million, compared to revenues of EUR 297 million.

Gross profit was EUR 115.0m or 38.8% of revenues a net result was EUR 29.5 million, or 9.9% of revenues. They expect a “softer” Q3 due to seasonality reasons.

Its fish processing arm represents 15% of revenue ie 8.5% EBIT margin. They reported that this was still below its long-term operational results however investments in innovation and standardisation helped to deliver good order intake and better margins overall.

The presentation revealed that Marel were developing a new fully-automated “next generation salmon processing plant” for Leroy.

It also announced it has agreed to acquire MAJA, a German food processing equipment manufacturer. MAJA – which had revenues of EUR 30 million in 2017 – is a leader in skinning/derinding, portion control slicing and ice making solutions.

To conclude the company said that looking ahead to the period 2017-2026, they are targeting 12% average annual revenue growth through market penetration and innovation, complemented by strategic partnerships and acquisitions.