MAREL HF : Weak Q4 margin, 2024 and medium term guidance adjusted
>Good Q4 order intake and sales but disappointing adj. EBIT margin - MAREL reported a solid order intake in the 4th quarter that beat css by 12%. Sales also beat consensus by 4%, driven by Meat and Plant, Pet & Feed (PPF). In absolute terms, adj. EBIT came in exactly in line with consensus expectations but the adj. EBIT margin amounted to 9.6%, well below css of 9.9%. Due to much higher than expected adjustment items between adj. EBIT and reported EBIT (€17m vs our e...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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