MAREL HF : Record order book signalling strong organic sales growth in the making
>Strong undertone, despite weak 2Q21 - Despite Marel guiding for a “softer” second quarter, 2Q21 results were weak vs consensus. A combination of 1) elevated temporary pandemic-related logistical costs (in line with 1Q21), 2) the ramping up of the company’s sales and services offering to support anticipated near term strong growth in demand (in line with 1Q21), 3) a low contribution of high margin poultry sales, and 4) input cost inflation (with Marel taking some time...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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