Results for Q2 2011 presented
28 Jul 2011
“Our business is showing very nice growth. In Quarter 2 we have a 19% higher turnover than a year ago. And if you look two years back, we have 50% growth,” said Theo Hoen, CEO of Marel, when the company’s results for Q2 2011 were presented this morning, 28 July, at a meeting with market participants and investors. The company is expanding geographically and good growth is seen in countries like Ukraine, South Korea, Brazil and China.
Erik Kaman, CFO, presented the financial results for the quarter. Among the highlights was a 19% increase in revenues compared to the same period the year before, totaling EUR 161.9 million. Revenues for the first half of the year amounted to EUR 315.4 million, also an increase of 19% compared to the same period in 2010. The order book is mounting and is at record levels, totaling EUR 176 million.The EBIT margin was 9.2% in Q2 and 10.2% for the first half of the year, which is within the company’s target of 10-12% return on revenues for the year. The outlook for the remainder of the year is positive.
Details of the results and the presentation are provided in the attachments below.