Marel boosted by favourable markets

MAREL, the international fish and food equipment processing company, has announced strong growth in both new orders and revenues during the second quarter of this year.
The Iceland based business said it has enjoyed extremely favourable market conditions and, as a result, the order book increased to 291 million euros, compared to 272.7 million euros this time last year.
Revenues rose from 244 million euros to 296.7 million euros. The EBIT (earnings before interest and tax) was also up from 35.9 million euros to 43.2 million euros.
CEO Arni Oddur Thordarson (pictured) said: ‘We continue on a good note with record revenues and a stable profit margin in the second quarter.
‘In the first six months of the year, revenues and EBIT were up 18 per cent compared with the same period last year.
‘It requires the passion and dedication of our 5,500 employees, as well as great partnership with our customers and suppliers, to deliver double digit organic growth as we anticipate this year.
‘The order book is strong and cash flow remains robust, enabling us to continue to invest in the platform to support further growth and value creation.’
He added: ‘We are pleased to announce that Marel has reached an agreement to acquire MAJA, a German food processing equipment manufacturer focused on skinning, portioning and ice machines.
‘Having worked with them through Sulmaq in Brazil in recent years, we know them to be a highly innovative and well managed business with around 200 employees and annual revenues of roughly 30 million euros.’
He said it was hoped that the deal would be finalised later this year.

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