Iceland’s Minister of Finance, Bjarni Benediktsson handed Árni Oddur the awards at a ceremony in Reykjavik’s Harpa Concert Hall.
During an in-depth interview, Árni Oddur described Marel’s extraordinary growth from a local startup to a global leader in its field, and the transition to selling high tech processing equipment and software for the fast-growing poultry, meat, and fish industries.
On track for steady growth
Marel growth has been approximately 20% annually since its initial listing in 1992 on the Icelandic stock exchange when the company totaled 45 employees and €6 million in revenue.
During the interview with Vidskiptabladid, Árni Oddur recounts his journey with Marel from 2005 when he became the Chairman of the Board of Marel, a position he held until 2013 when he became the CEO.
In 2005, Marel’s revenues were €130 million, and by 2017 they exceeded €1 billion. During the same period, the dedicated team working at Marel has expanded to 6,000 employees.
Marel’s tremendous growth has been part of a strategic plan that management put forward in 2006 and achieved with a combination of organic growth, mergers, and acquisitions.
Marel intends to continue on the same trend with an average increase of 12% annually from 2017 through 2026 with the aim of reaching €3 billion in revenues by that time.
Plans for a dual listing on an international stock exchange are on track with three stock exchanges currently under consideration: Amsterdam, Copenhagen, and London.