All amounts in EUR:
Marel shows strong market performance in the second quarter with revenues amounting to 186.5 million, which is 15.2% higher than in the previous year. EBIT margin of 6.5% in Q2 is below target (10-12%) for the full year.
This is mainly due to the extra cost of realizing some projects, coping with continued strong growth and an unfavorable product mix. The EBIT margin is 9% for the first half of the year and the target remains at 10-12%.
The second quarter signals a well balanced geographical split with large projects in Brazil, Turkey, the USA, South Africa and Russia. The revenue split across the Poultry, Fish and Further Processing industries is also at a good level.
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.