Investors

Marel Q1 2010 results

28 Apr 2010

Attachments:

Press release Accounts Presentation Webcast

Positive start to the year; Marel capitalizes on improved market conditions

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  • Revenues for Q1 2010 totalled 147.2 mln. Revenues from core business totalled 128.9 mln, an increase of 24.9% compared to the same period the year before [Q1 2009: 103.2 mln].
  • EBITDA was 22.6 mln, or 15.3% of sales [Q1 2009: 0.8 mln]. EBITDA from core businesses was 20.9 mln or 16.2% of sales [Q1 2009: 3.9 mln].
  • Operating profit (EBIT) was 15.9 mln, or 10.8% of sales [Q1 2009: loss of 5.8 mln]. EBIT from core businesses was 15.1 mln or 11.7% of sales [Q1 2009: loss of 1.7 mln].
  • Net result was 5.6 mln for Q1 2010 [Q1 2009: loss of 7.0 mln].
  • Cash flow remains strong and net interest bearing debt is 286 mln at the end of Q1 2010 [Q1 2009: 373 mln].
  • The order book has grown as a result of improved market conditions and was 113.5 mln at the end of the quarter [Q1 2009: 58.8 mln].

For further information, contact:

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

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