MAREL HF : Not the quarter we had hoped for, more cautiousness in our forecast
>Positive tone during the analyst call but outlook for Q4 2023 subdued - In the analyst call, MAREL continued mentioning higher activity levels and a positive outlook for order intake (for Poultry and PPE mainly, less so for Meat and Fish) with a higher conversion rate from pipeline to orders as clients find it easier to obtain letters of credit. And that additional cost reductions would be realized, towards the targets for opex (24% of sales: 18% for SG&A and 6% for ...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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