Q3 2023 Earnings Report for Poultry Segment
marel
Orders received EUR 391 million
Pipeline is strong and continues to build up, although continued uncertainty in timing of conversion of pipeline into orders
•
Orders received soft at EUR 390.8m in 3Q23, down
3.9% QoQ and 8.5% YoY (2Q23: 406.5m, 3Q22:
427.1m), with slower conversion to orders
Revenues and order evolution
EUR m
•
4Q23 started on a good note with an agreement for one
of the largest greenfield orders in the poultry segment
500
•
Revenues EUR 403.6m in the quarter, down 4.5% QoQ
and 10.4% YoY due to level of project orders received in
past quarters
450
400
Revenues
Orders received
500
450
400
Order book of EUR 561.7m, consisting of orders that
have been signed and financially secured with down
payments
350
L
350
•
Order book at quarter-end represents 31.9% of trailing
twelve months (TTM) revenues
300
250
T
T
300
250
•
Book-to-bill ratio of 0.97 in 3Q23 (2Q23: 0.96, 3Q22:
0.95)
200
200
•
Easing of inflation on materials is countered by
continuous high labor inflation for Marel's customers.
The need for automation, digitalization and sustainable
use of raw materials, energy and water within food
processing continues to become ever more pressing
150
150
100
100
50
50
0
0
2017
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2019
2020
2021
2022
2023
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