Results for Q1 2015 above expectations
20 Apr 2015
According to Marel‘s management preliminary review of the numbers for Q1 2015 the results for the quarter will be above expectations driven by increased volume, favorable product mix and operational improvements.
Orders received in the quarter are expected to be EUR 212 million. Revenues for Q1 2015 will be close to EUR 209 million, with adjusted EBIT* above 11% of revenue and EBIT close to 8% of revenue. Net result from the quarter is expected to be above EUR 12 million.
Strong EBITDA and cash flow will result in a Total Net Leverage ratio around 1.5 at end of Q1 2015 compared to 2.1 at the end of Q4 2014.**
Market conditions are good with strong tailwind in Marel´s main markets in addition to favorable conditions in financial markets. It should nevertheless be kept in mind that results may vary from quarter to quarter due to general economic developments, fluctuations in volume and mix of revenues.
Q1 2015 results will be released after market closing on April 29th 2015. Marel will hold an investor meeting in the morning of 30th April, where the results and future outlook will be outlined.
* Before refocusing cost.
** Total Net Leverage is based on adjusted EBITDA in recent 12 months and net interest bearing debts at the end of the quarter.