A good start to the year
- Revenues for Q1 2011 totalled 153.5 mln, an increase of 19.1% compared to revenues from core business for the same period the year before [Q1 2010: 128.9 mln].
- EBITDA was 23.3 mln, or 15.2% of revenues [Q1 2010: 20.9 mln from core business].
- Operating profit (EBIT) was 17.1 mln, or 11.2% of revenues [Q1 2010: 15.1 mln from core business].
- Net result was 8.8 mln for Q1 2011 [Q1 2010: 5.6 mln consolidated].
- Operational cash flow remains strong and net interest bearing debt is 247.6 mln at the end of Q1 2011 [Q1 2010: 286.3 mln].
- The order book continues to grow as a result of a strong product pipeline and favourable market conditions. The order book stands at 169.3 mln at the end of the quarter [Q1 2010: 113.5 mln from core business].
Q1 2011 was a good quarter for Marel. Revenues totalled 153.5 mln, an increase of 19% compared to Q1 2010. Once again, the company delivered on its long-term target of 10-12% return on revenues. Orders received continue to exceed orders booked off, leading to a continuing increase in the order book, which stood at 169.3 mln at the end of the quarter, compared to 162.2 at the end of the previous quarter and 113.5 mln at the same time the year before.
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