MAREL HF : Weaker than expected Q1, 2024 adj. EBIT margin target (10%-11%) at risk
>Miss on orders, sales and adj. EBIT, net debt up materially - Despite the cautious round of pre close calls, MAREL’s Q1 2024 results disappoint. Orders remain soft and have declined sequentially (albeit up yoy), missing css by 4%. This is mainlky due to customers delaying investments because of the high interest rate environment and low profitability in their own sector as well as geopolitical uncertainty. Due to the weak order intake of previous quarters, sales have...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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.