MAREL HF : A solid quarter, 2024 guidance to be met, slight delay in JBT-MAREL deal
>Beats on order intake and EBIT (margin), sales a miss, ND/EBITDA down - MAREL beat css on order intake which is encouraging, also because order intake is up both QoQ and YoY (+3%). Sales of €387m missed css by 4%, primarily because of 1/ weak ad-hoc orders as order intake has been weak for a few quarters now and 2/weak sales in Poultry and Fish. Adjusted EBIT came in at €36.2m or a margin of 9.4% versus css of €33.4m or a margin of 8.3%. That is a beat of 8% on adj....Marel hf is an Iceland-based holding company active within the food industry. It is primarily engaged in providing equipment, systems and services for the poultry, meat and fish processing industry. The Company activities are divided into following segments: Poultry, including processing systems for broilers, turkeys and ducks; Fish, providing equipment and system for processing whitefish an salmon; Meat, including systems and services to the red meat industry, such as deboning and trimming, case ready and bacon processing; Further Processing, including portioning and forming, marinating, coating, frying, cooking and sausage making; and More Foods, including systems and services to processing such foods as vegetables, fruit and cheese. The Company's distribution network includes sales and service units in over 30 countries. The Company operates Sulmaq Industrial e Comercial SA as subsidiary.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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