Q3 2023 Earnings Report for Poultry Segment
marel
Aftermarket revenues of EUR 776 million TTM
Continued momentum in aftermarket revenues in line with 2026 target of 50% of revenues coming from service and software
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Continued good momentum in aftermarket revenues of
EUR 196.2m in 3Q23, comprised of recurring services
and spare parts
On a trailing twelve months basis, aftermarket revenues
were EUR 775.9m, up 12.2% CAGR from 2017-3Q23
High aftermarket ratio of 49% of total revenues in 3Q23
(2Q23: 47% 3Q22: 42%), due to strong aftermarket
performance and level of project revenues
Aftermarket revenues
Trailing twelve months (TTM), EUR m
800
700
Aftermarket growth reflects Marel's strong market
position and reputation as a trusted maintenance
partner and underpins Marel's commitment to
600
investments in automating and digitizing the spare parts
delivery model and shortening lead times
500
400
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CAGR 2017-3Q23 12.2%
Transformative infrastructure investments in the Global
Distribution Center in Eindhoven, Netherlands, and
Regional Distribution Center in Buford, Georgia, USA, to
improve operational efficiency and shorten lead times in
support of the 2026 target of reaching 50% of revenues
from service and software
300
200
100
0
2017
2018
2019
2020
2021
2022
2023
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