Q1 results presented at Marel


Marel's board of management presented the financial results for Q1 at an investor meeting at Marel's headquarters this morning.

Theo Hoen, CEO of Marel, started by summarizing the highlights of the quarter. The revenues of the quarter (158.0 million) reflected the lower level of the order book at the start of  the year.

The EBIT margin was below the Company‘s long-term target of 10-12%. The positive news from this quarter is that the orderbook grew by 26 million which places the order book back on a good level of 151 million. Theo said:

In the US and in Europe our customers have been holding back investment for a considerable time.

Theo Hoen
CEO of Marel

He said that investment cannot be delayed for so long and there were clear signs of improvements and mentioned that  food processors in US were starting to invest. 

Erik Kaman, CFO, gave a comprehensive overview of the key financials. He discussed the decrease of revenues between quarters:

The decrease was not unexpected because of the lower level of the order book at the end of quarter four.

Erik Kaman
CFO of Marel

He added that the positive sign were orders received as they were picking up during the quarter.

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