Q3 2023 Earnings Report for Poultry Segment
Order book
Order book of EUR 562m, representing 32% of trailing twelve months (TTM) revenues
•
Order book, consisting of orders that have been
signed and financially secured with down
payments, was EUR 561.7m, down 2.2%
sequentially QoQ (2Q23: 574.5m)
Order book at quarter end represents 31.9% of
revenues TTM and the book-to-bill ratio in the
quarter was 0.97 (2Q23: 0.96, 3Q22: 0.95) and
0.91 in the first nine months of 2023 (9M22: 1.08)
Pipeline is strong and continues to build up,
although market conditions continue to create
uncertainty in timing of conversion of pipeline into
orders
Vast majority of the order book are greenfield and
projects, while spare parts and standard
equipment run faster through the system
Order book
EUR m
1,734 1,709
1,361
1,502
1,234 1,238
•
Low customer concentration with no customer
accounting for more than 5% of total annual
revenues
marel
Order book¹
Orders received²
Revenues
I
407
422
391 404
363
447
675
569
590
575
562
414
416
2019
2020³
20214
20225
1Q23
2Q23
3Q23
Order book %
32%
34%
42%
40%
33%
TTM revenues
32%
32%
I
Book-to-bill ratio
0.95
1.00
1.10
1.01
0.81
0.96
0.97
Notes:
The order book reflects Marel's estimates, as of the relevant order book date, of potential future revenues to be derived from contracts for equipment, software, service and spare parts which have been financially secured through down payments and/or
letters of credit in line with the relevant contract terms. These estimates reflect the estimated total nominal values of amounts due under the relevant contracts less any amounts recognized as revenues in Marel's financial statements as of the relevant order book
date. ² Orders received represents the total nominal amount, during the relevant period, of customer orders for equipment, software, service and spare parts registered by Marel. 3 Including acquired order book of TREIF of EUR 5m. 4 Including acquired order book of
Curio, PMJ and Valka of EUR 12m. 5 Including acquired order book of Wenger and Sleegers of EUR 81m.
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