Investors

Marel Food Systems Q3 2009 results

03 Nov 2009

Attachments:

Press release Accounts Presentation


Good operating performance; new cost base and improved market conditions

Marel Food Systems Logo

  • Revenues from core business for Q3 2009 totalled EUR 111.9 mln, an increase of 4.4% compared to the previous quarter (Q3 2008: EUR 143.1 mln).
  • EBITDA from core businesses was EUR 18.6 mln, or 16.6% of sales (Q3 2008: EUR 20.9 mln; 14.6% of sales).
  • EBIT from core business was EUR 13.1 mln, or 11.7% of sales (Q3 2008: EUR 15.7 mln; 11% of sales).
  • International shareholding increased to 16% following Columbia Wanger’s acquisition of a 5.2% share in Marel.

Consolidated

  • Consolidated revenues for Q3 2009 amounted to EUR 133.7 mln (Q3 2008: EUR 170.6 mln).
  • Consolidated EBITDA was EUR 18.0 mln in Q3 2009 (Q3 2008: EUR 20.8 mln) and consolidated operating profit (EBIT) was EUR 11.8 mln (Q3 2008: EUR 14.5 mln).
  • Net result was EUR 0.9 mln for Q3 2009 (Q3 2008: EUR 4.5 mln).
  • Net interest bearing debt was EUR 348.0 mln.
  • Bridge loan for Food and Dairy operation was extended by two years, until October 2011.

For further information, please contact:

Erik Kaman, CFO,
tel: (+354) 563-8072

Sigsteinn Grétarsson, Managing Director of Marel ehf.,
tel: (+354) 563-8072