Orders received in the quarter are expected to be EUR 212 million.
Marel's Results for Q1 2015 Above Expectations
As provided for in the Marel 2014 annual results, published on February 5th 2015, the management guidance for the year 2015 was organic revenue growth, with a solid increase in operational and net profit. In addition, Marel has previously disclosed the aim to reach EBIT of over 100 million in 2017.
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, favourable product mix and operational improvements.
Marel achieves strong results in Q1 2015.
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 favourable 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.
Marel's primary goal is to deliver market-driven innovation that helps customers proactively adapt to continually changing consumer habits and environmental challenges.
Marel is the leading global provider of advanced equipment, systems and services to the fish, meat and poultry industries. With offices and subsidiaries in over 30 countries and a global network of more than 100 agents and distributors, Marel works side-by-side with its customers to extend the boundaries of food processing performance.
Spain and Portugal defend recovery plan for Iberian sardine Spain
Fisheries authorities from Spain and Portugal participated in a technical meeting with the services of the European Commission, to explain in detail the proposal of a multi-year management plan for the recovery of Iberian sardine prepared by both countries.