Record order intake and solid operating performance
- Revenues for Q3 2011 totalled 169.1 mln, an increase of 13.1% compared to revenues for the same period the year before [Q3 2010: 149.5 mln].
- EBITDA was 25.8 mln, or 15.3% of revenues [Q3 2010: 19.9 mln].
- Operating profit (EBIT) was 19.5 mln, or 11.5% of revenues [Q3 2010: 13.8 mln].
- Net result was 10.5 mln for Q3 2011 [Q3 2010: 2.4 mln].
- Cash flow remains healthy and net interest bearing debt is 243.3 mln at the end of Q3 2011 [Q3 2010: 271.1 mln].
- The order book continues to grow as a result of a strong product pipeline and record quarterly order intake. The order book stands at 204.2 mln at the end of the quarter [Q3 2010: 141.2 mln].
- Q3 2011 was a very good quarter for Marel. Revenues totalled 169.1 mln, an increase of 13% compared to Q3 2010 and 4% compared to the previous quarter, despite the summer holiday period. The EBIT margin was 11.5%, which is in line with the company’s target of 10-12% return on revenues for the year.
Revenues for the first nine months of the year totalled 484.5 mln, an increase of 16.9% compared to the same period the year before. Normalised operating profit (EBIT) for the first nine months is 51.5 mln, or 10.6% of revenues, and normalised EBITDA is 70.1 mln, or 14.5% of revenues. The outlook for the remainder of the year is positive.