All amounts in EUR:
Marel starts the year off strong in Q1 and in line with the Company’s growth strategy. Revenues amounted to 184.9 million, which represents an increase of 20.4% compared to Q1 2011, similar to the record fourth quarter of 2011 [183.9 million]. The EBIT margin of 11.4% is in line with the Company’s target of 10-12% return on sales.
Marel has good geographical revenue split. This quarter, solid growth in areas such as Asia and South America fully offsets a slower US market. The outlook for 2012 remains positive based on the level of the order book and market trends as perceived by Marel.
Statements in this press release that are not based on historical facts are forward-looking statements. Although such statements are based on management’s current estimates and expectations, forward-looking statements are inherently uncertain.
We, therefore, caution the reader that there are a variety of factors that could cause business conditions and results to differ materially from what is contained in our forward-looking statements, and that we do not undertake to update any forward-looking statements. All forward-looking statements are qualified in their entirety by this cautionary statement.