”New” Marel ready for 2010 

  • Revenues from core business for 2009 amounted to EUR 434.8 mln, gradually increasing during the year. EBIT from core business was EUR 24.8 mln, or 5.7% of sales.
  • In 2009, Marel continued to strengthen its competitive position with a focus on integration and significant cost reductions, which have reduced operational costs by EUR 25 million.
  • Net interest bearing debt has been reduced to EUR 295 million [2008: EUR 379 million] with strong operating cash flow, successful equity issues and increased focus with the sale of non-core operations.
  • In order to maintain its technological leadership, Marel continues to place high priority on research and development.
  • The order book has been growing throughout the year and is at a solid and much better level today than it was one year ago, which will positively affect revenues and results.
  • The strategic focus has been sharpened with the sale of non-core operations.

Q4 2009 results 

Focus strategy executed and equity increased 

  • Revenues from core business for Q4 2009 totalled EUR 112.5 mln [Q4 2008: EUR 121.4 mln].
  • EBITDA from core businesses was EUR 12.8 mln, or 11.3% of sales [Q4 2008: EUR 0.7 mln; 0.6% of sales].
  • EBIT from core business was EUR 6.9 mln, or 6.2% of sales [Q4 2008: EUR (5.7) mln; -4.7% of sales].
  • The financial risk profile has dramatically improved with the issuance of new shares for EUR 41 mln, with EUR 32 mln of the proceeds used to pay down ISK-denominated bonds, and a currency conversion of ISK debt of EUR 66 mln into Euro-denominated debt.
  • Integration plans are being implemented; re-branding and the integration of distribution channels has begun and new products are being developed based on joint technology.


 Press release (522 kb)   Accounts (23 kb)   Presentation (1,59 mb)

Recent Posts