Key Figures

 

Amounts in EUR thousands

Results 2016 2015 * 2014 * 2013 2012
Revenue 969,671 818,602 712,554 661,536 713,960
Gross profit 397,008 312,155 247,710 233,644 249,226
Result before depreciation and amortization (EBITDA) 175,444 120,813 66,698 69,444 85,963
Result from operations (EBIT) 114,776 81,613 29,178 42,909 61,081
Net result for the period 75,844 56,696 11,731 20,620 35,609

 

Order book 2016 2015 * 2014 * 2013 2012
Orders received (includes service revenue) 1,005,997 824,609 754,996 668,584 650,493
Order book 349,526 180,887 174,880 132,438 125,390

* 2015 adjusted for refocusing costs and acquisition related costs; 2014 adjusted for refocusing costs

 

Cash flow statement 2016 2015 * 2014 * 2013 2012
Cash generated from operating activities, before interest & tax 179,017 119,739 102,201 80,320 65,569
Net cash from (to) operating activities 137,140 93,652  85,601 64,552 49,095
Investing activities (408,136) (17,859) (28,395) (32,418) (37,294)
Net cash from (used in) financing activities 220,375 (10,723) (55,623) (26,461) (26,486)

 

Financial position 2016 2015 * 2014 * 2013 2012
Total assets 1,392,428 938,155 851,440 839,568 865,128
Working capital (13,304) 94,067 25,650  49,041 59,076
Group equity 525,573 446,739 427,498  419,339 403,748
Net debt 403,608 142,760 174,347  217,130 243,242

 

Various figures in proportion to sales 2016 2015 * 2014 * 2013 2012
Gross profit 40.9% 38.1% 34.8%  35.3% 34.9%
Selling and marketing expenses 13.3% 13.6% 14.5% 14.4% 12.6%
Research and development expenses 6.5% 7.0% 7.8% 6.7% 5.8%
Administrative expenses 6.8% 7.3% 8.4%  7.8% 8.0%
Wages and benefits 35.0% 33.6% 37.6%  37.9% 33.9%
Result before depreciation (EBITDA) 18.1% 14.8% 9.4%  10.5% 12.0%
Depreciation/amortization 5.7% 4.8% 5.3%  4.0% 3.5%
Result from operations (EBIT) 11.8% 10.0% 4.1%  6.5% 8.6%
Net result for the period 7.8% 6.9% 1.6%  3.1% 5.0%

 

Other key ratios 2016 2015 * 2014 * 2013 2012
Current ratio 1.0 1.4 1.1 1.3 1.3
Quick ratio 0.6 1.0 0.7  0.8 0.8
Equity ratio 37.7% 47.6% 50.2%  49.9% 46.7%
Return on owners’ equity 15.6% 13.0% 2.8%  5.0% 9.2%
Return on total assets 5.4% 6.0% 1.4% 2.4% 4.1%

 

Key figures from Marel’s core operations, normalized 2016 ** 2015 * 2014 * 2013 2012
Revenue 982,961 818,602 712,554 661,536 713,960
Result from operations (EBIT) *** 143,479 99,895 48,778 42,909 61,081
EBIT as a % of sales 14.6% 12.2% 6.8% 6.5% 8.6%
Result before depreciation and amortization (EBITDA) 179,742 135,751 83,666 69,444 85,963
EBITDA as a % of sales 18.3% 16.6% 11.7% 10.5% 12.0%
Orders received (includes service revenue) 1,012,697 824,609 754,996 668,584 650,493
Leverage 2.25 1.05 2.08 3.13 2.83

** 2016 pro forma figures
*** 2016 adjusted for amortization of acquisition-related intangible assets