MAREL HF : Moving to the sidelines (downgrade to Neutral)
>Ongoing environment impacting both near-term sales and profitability - Apart from Marel reporting another quarter with a record order book (three consecutive quarters in a row), Marel’s 3Q21 update left very little to cheer about. The quarter was overshadowed by very weak EBIT as supply chain constraints continued to impact both the top line (delayed delivery of finished goods, timing of orders and general investment decisions) and profitability (higher raw material ...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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