Q3 2023 Earnings Report for Poultry Segment
Income statement
Revenues in Q3 2023 were EUR 404m, gross profit was EUR 144m or 35.6% of revenues, and the adjusted EBIT was EUR 36m or 9.0%
marel
In EUR million
Q3 2023
Of Revenues
Q3 2022
Of Revenues
Change
Revenues
Cost of sales
403.6
450.6
-10.4%
(260.1)
(288.6)
-9.9%
Gross profit
143.5
35.6%
162.0
36.0%
-11.4%
Selling and marketing expenses
(54.3)
13.5%
(57.0)
12.6%
-4.7%
General and administrative expenses
(28.6)
7.1%
(32.2)
7.1%
-11.2%
Research and development expenses
(24.3)
6.0%
(26.6)
5.9%
-8.6%
Adjusted result from operations¹
36.3
9.0%
46.2
10.3%
-21.4%
Non-IFRS adjustments
Result from operations
Net finance costs
Share of result of associates
Impairment loss of associates
(8.7)
(27.1)
-67.9%
27.6
6.8%
19.1
4.2%
+44.5%
(15.1)
(0.0)
Result before income tax
12.5
Income tax
Net result
(2.4)
10.1
2.5%
1.1
(0.1)
(7.0)
13.1
(4.2)
8.9
-1,472.7%
-4.6%
2.0%
-42.9%
+13.5%
Notes: The income statement as presented above provides an overview of the quarterly Adjusted result from operations, which management believes to be a relevant Non-IFRS measurement.1 Operating income adjusted for PPA related costs, including depreciation
and amortization, and acquisition related expenses as of Q4 2020. In Q3 2022, Q4 2022, Q2 2023 and Q3 2023, operating income is adjusted for restructuring costs.
17View entire presentation