Key Figures

 

Amounts in EUR thousands

Results 2017 2016 2015 * 2014 * 2013
Revenues 1,038.2 969.7 818.6 712.6 661.5
Gross profit 406.7 397.0 312.2 247.7 233.6
Result before depreciation and amortization (EBITDA) 192.0 175.4 120.8 66.7 69.4
Result from operations (EBIT) 140.3 114.8 81.6 29.2 42.9
Net result for the period 96.9 75.8 56.7 11.7 20.6

 

Order book 2017 2016 2015 * 2014 * 2013
Orders received (includes service revenue) 1,143.7 1,006.1 824.6 755.0 668.6
Order book 472.1 349.5 180.9 174.9 132.4

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

 

Cash flow statement 2017 2016 2015 * 2014 * 2013
Cash generated from operating activities, before interest & tax 236.2 179.0 119.7 102.2 80.3
Net cash from (to) operating activities 195.6 137.1 93.7  85.6 64.6
Investing activities (77.7) (408.1) (17.9) (28.4) (32.4)
Net cash from (used in) financing activities (122.2) 220.4 (10.7) (55.6) (26.5)

 

Financial position 2017 2016 2015 * 2014 * 2013
Total assets 1,440.6 1,392.4 938.2 851.4 839.6
Working capital (71.9) (13.3) 94.1 25.7  49.0
Group equity 541.9 525.6 446.7 427.5  419.3
Net debt 365.1 403.6 142.8 174.3  217.1

 

Various figures in proportion to sales 2017 2016 2015 * 2014 * 2013
Gross profit 39.2% 40.9% 38.1% 34.8%  35.3%
Selling and marketing expenses 11.6% 13.3% 13.6% 14.5% 14.4%
Research and development expenses 5.6% 6.5% 7.0% 7.8% 6.7%
Administrative expenses 6.8% 6.8% 7.3% 8.4%  7.8%
Wages and benefits 35.0% 35.0% 33.6% 37.6%  37.9%
Result before depreciation (EBITDA) 18.5% 18.1% 14.8% 9.4%  10.5%
Depreciation/amortization 5.0% 5.7% 4.8% 5.3%  4.0%
Result from operations (EBIT) 13.5% 11.8% 10.0% 4.1%  6.5%
Net result for the period 9.3% 7.8% 6.9% 1.6%  3.1%

 

Other key ratios 2017 2016 2015 * 2014 * 2013
Current ratio 0.8 1.0 1.4 1.1 1.3
Quick ratio 0.6 0.6 1.0 0.7  0.8
Equity ratio 37.6% 37.7% 47.6% 50.2%  49.9%
Return on owners’ equity 18.2% 15.6% 13.0% 2.8%  5.0%
Return on total assets 6.8% 5.4% 6.0% 1.4% 2.4%

 

Key figures from Marel’s core operations, normalized 2017 2016 ** 2015 * 2014 * 2013
Revenues 1,038.2 983.0 818.6 712.6 661.5
Result from operations (EBIT) *** 157.4 143.5 99.9 48.8 42.9
EBIT as a % of sales 15.2% 14.6% 12.2% 6.8% 6.5%
Result before depreciation and amortization (EBITDA) 192.0 179.7 135.8 83.7 69.4
EBITDA as a % of sales 18.5% 18.3% 16.6% 11.7% 10.5%
Orders received (includes service revenue) 1,143.7 1,012.7 824.6 755.0 668.6
Leverage 1.9 2.3 1.1 2.1 3.1

** 2016 pro forma figures
*** 2016 and 2017 adjusted for amortization of acquisition-related intangible assets