View ValuationThis company listing is no longer activeThis company may still be operating, however this listing is no longer active. Find out why through their latest events.See Latest EventsMarel hf 将来の成長Future 基準チェック /46Marel hf利益と収益がそれぞれ年間39.7%と5%増加すると予測されています。EPS は年間 増加すると予想されています。自己資本利益率は 3 年後に11.2% 91%なると予測されています。主要情報39.7%収益成長率90.97%EPS成長率Machinery 収益成長15.0%収益成長率5.0%将来の株主資本利益率11.17%アナリストカバレッジLow最終更新日23 Dec 2024今後の成長に関する最新情報Major Estimate Revision • Nov 03Consensus EPS estimates fall by 40%The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from €0.05 to €0.03 per share. Revenue forecast steady at €1.70b. Net income forecast to grow 311% next year vs 14% growth forecast for Machinery industry in Europe. Consensus price target of Kr540 unchanged from last update. Share price rose 2.1% to Kr582 over the past week.Major Estimate Revision • Jul 31Consensus EPS estimates fall by 38%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from €1.73b to €1.71b. EPS estimate also fell from €0.08 per share to €0.05 per share. Net income forecast to grow 350% next year vs 14% growth forecast for Machinery industry in Europe. Consensus price target broadly unchanged at Kr541. Share price was steady at Kr504 over the past week.Major Estimate Revision • May 14Consensus EPS estimates fall by 27%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from €1.76b to €1.74b. EPS estimate also fell from €0.11 per share to €0.08 per share. Net income forecast to grow 348% next year vs 14% growth forecast for Machinery industry in Europe. Consensus price target broadly unchanged at Kr538. Share price was steady at Kr486 over the past week.Major Estimate Revision • Oct 31Consensus EPS estimates fall by 29%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from €1.76b to €1.70b. EPS estimate also fell from €0.07 per share to €0.05 per share. Net income forecast to grow 114% next year vs 9.7% growth forecast for Machinery industry in Europe. Consensus price target down from Kr609 to Kr517. Share price rose 7.0% to Kr380 over the past week.お知らせ • Oct 26Marel hf. Provides Earnings Guidance for the period 2017-2026Marel hf. provided earnings guidance for the period 2017-2026. The company reported management is committed to the financial targets to reach 14-16% EBIT, gross profit of ~38-40% of revenues. Focus on delivering healthy growth and margin enhancement to reach a sustainable 14-16% EBIT level in the course of 2024. In the period 2017-2026, Marel is targeting 12% average annual revenue growth through market penetration and innovation, complemented by strategic partnerships and acquisitions. Maintaining solid operational performance and strong cash flow is expected to support 5-7% revenue growth on average by acquisition. Marel’s management expects average annual market growth of 4-6% in the long term. Marel aims to grow organically faster than the market, driven by innovation and growing market penetration. Recurring aftermarket revenues to reach 50% of total revenues by YE26, including software and services. Marel’s management expects basic EPS to grow faster than revenues.Major Estimate Revision • May 19Consensus EPS estimates fall by 44%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from €1.89b to €1.86b. EPS estimate also fell from €0.16 per share to €0.09 per share. Net income forecast to grow 111% next year vs 16% growth forecast for Machinery industry in Europe. Consensus price target down from Kr680 to Kr598. Share price fell 6.5% to Kr433 over the past week.すべての更新を表示Recent updatesお知らせ • Dec 30Marel hf.(ICSE:MAREL) dropped from FTSE All-World Index (USD)Marel hf.(ICSE:MAREL) dropped from FTSE All-World Index (USD)Reported Earnings • Nov 04Third quarter 2024 earnings released: EPS: €0.005 (vs €0.013 in 3Q 2023)Third quarter 2024 results: EPS: €0.005 (down from €0.013 in 3Q 2023). Revenue: €386.9m (down 4.1% from 3Q 2023). Net income: €3.80m (down 62% from 3Q 2023). Profit margin: 1.0% (down from 2.5% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Machinery industry in Europe. Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings.Major Estimate Revision • Nov 03Consensus EPS estimates fall by 40%The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from €0.05 to €0.03 per share. Revenue forecast steady at €1.70b. Net income forecast to grow 311% next year vs 14% growth forecast for Machinery industry in Europe. Consensus price target of Kr540 unchanged from last update. Share price rose 2.1% to Kr582 over the past week.Buy Or Sell Opportunity • Oct 25Now 20% undervaluedOver the last 90 days, the stock has risen 14% to Kr570. The fair value is estimated to be Kr716, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has declined by 52%. For the next 3 years, revenue is forecast to grow by 4.8% per annum. Earnings are also forecast to grow by 38% per annum over the same time period.お知らせ • Aug 28John Bean Technologies Gets Extension of Acceptance Period for Marel OfferJohn Bean Technologies Corporation (NYSE:JBT) has been granted an extension of the acceptance period of its takeover offer for Marel hf. (ICSE:MAREL). The move will enable the parties to secure the necessary regulatory nods to close their deal, JBT said on August 26, 2024. The offer, originally set to end on September 2, will now close on the earlier of either November 11 or three weeks after all necessary regulatory approvals are obtained, unless the offer period is further extended. JBT Chief Executive Officer Brian Deck said that despite the extension, the firm still expects to complete the transaction by the end of 2024. Under the terms of the deal, sealed in April, the buyer launched its EUR-3.60-per-share (USD 4.02) takeover offer for all outstanding shares of Marel in June. As agreed, Marel shareholders can elect to receive the proposed consideration only in cash, only in stock or in cash and stock, with the total consideration mix being 65% in JBT common stock and 35% in cash. Marel shareholders will thus own a 38% take in the combined entity and receive a total of EUR 950 million in cash.Major Estimate Revision • Jul 31Consensus EPS estimates fall by 38%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from €1.73b to €1.71b. EPS estimate also fell from €0.08 per share to €0.05 per share. Net income forecast to grow 350% next year vs 14% growth forecast for Machinery industry in Europe. Consensus price target broadly unchanged at Kr541. Share price was steady at Kr504 over the past week.Reported Earnings • Jul 25Second quarter 2024 earnings released: EPS: €0.003 (vs €0.004 in 2Q 2023)Second quarter 2024 results: EPS: €0.003 (down from €0.004 in 2Q 2023). Revenue: €415.2m (down 1.7% from 2Q 2023). Net income: €2.10m (down 32% from 2Q 2023). Profit margin: 0.5% (down from 0.7% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Machinery industry in Europe. Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings.Buy Or Sell Opportunity • Jul 25Now 20% undervaluedOver the last 90 days, the stock has risen 2.5% to Kr500. The fair value is estimated to be Kr625, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has declined by 46%. For the next 3 years, revenue is forecast to grow by 5.4% per annum. Earnings are also forecast to grow by 33% per annum over the same time period.Major Estimate Revision • May 14Consensus EPS estimates fall by 27%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from €1.76b to €1.74b. EPS estimate also fell from €0.11 per share to €0.08 per share. Net income forecast to grow 348% next year vs 14% growth forecast for Machinery industry in Europe. Consensus price target broadly unchanged at Kr538. Share price was steady at Kr486 over the past week.Reported Earnings • May 08First quarter 2024 earnings released: €0.004 loss per share (vs €0.012 profit in 1Q 2023)First quarter 2024 results: €0.004 loss per share (down from €0.012 profit in 1Q 2023). Revenue: €412.6m (down 7.8% from 1Q 2023). Net loss: €3.20m (down 135% from profit in 1Q 2023). Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Machinery industry in Europe. Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings.お知らせ • Apr 06JBT Corporation and Marel hf. Announce Management ChangesJBT Corporation announced that JBT and Marel hf. have executed a definitive transaction agreement related to JBT’s previously announced intention to make a voluntary takeover offer for all of the issued and outstanding shares of Marel. The transaction agreement includes the terms of the offer and other important governance, social, and operating items relating to the proposed business combination of JBT and Marel. The transaction agreement was approved by the boards of directors of both companies. The transaction agreement provides that Brian Deck will serve as Chief Executive Officer (CEO) of the combined company, Arni Sigurdsson will be President of the combined company, and the remainder of the executive leadership positions will be a combination of talent from both companies. The combined company’s board of directors will consist of five independent directors from the pre-closing JBT Board of Directors, four independent directors from the pre-closing Marel Board of Directors, and the CEO of the combined company. Alan Feldman will serve as Chairman of the Board of the combined company.Board Change • Apr 01Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. Independent Director Svafa Gronfeldt was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.Buy Or Sell Opportunity • Mar 25Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 4.8% to Kr453. The fair value is estimated to be Kr571, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has declined by 38%. For the next 3 years, revenue is forecast to grow by 4.6% per annum. Earnings are also forecast to grow by 28% per annum over the same time period.お知らせ • Mar 05Marel hf. Announces Chief Financial Officer ChangesMarel hf. announced that Sebastiaan Boelen has been appointed as Chief Financial Officer with immediate effect. Sebastiaan is a Dutch-British national and a highly experienced CFO with over 25 years in international CFO and financial roles. He has worked across a number of industries including industrials, food and beverage, and technology and, he has a proven record in supporting businesses deliver enhanced financial performances. Most recently Sebastiaan spent 4 years at Southern Water where he served as Group Chief Financial Officer. Prior to this, Sebastiaan held CFO and senior financial roles at Arrow Global, SPI Group and Black & Decker, amongst others. After almost 10 years with Marel, by mutual agreement, Stacey Katz will step down as Chief Financial Officer of Marel with immediate effect. She will remain available in an advisory capacity at Marel until the end of the financial year to ensure a smooth transition to the experienced finance team and continued delivery of its strategy.Board Change • Feb 28Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 3 highly experienced directors. Independent Director Svafa Gronfeldt was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.Declared Dividend • Feb 28Dividend of €0.0082 announcedShareholders will receive a dividend of €0.0082. Ex-date: 22nd March 2024 Payment date: 11th April 2024 Dividend yield will be 0.002%, which is lower than the industry average of 2.1%. Payout Ratios Payout ratio: 20%. Cash payout ratio: 12%.お知らせ • Jan 17Marel hf. Announces Linda Jonsdottir to Step Down as Chief Operating OfficerLinda Jonsdottir has decided to step down from her role as Chief Operating Officer and is leaving Marel hf. Simultaneously the role of Chief Operating Officer will be discontinued. Going forward, the management of the business functions and customer centers will be moved to other members of the executive leadership following a transition plan where Linda will be on hand to ensure a smooth handover of responsibilities internally. Linda joined Marel in 2009 as Corporate Director of Treasury and Investor Relations, she became Chief Financial Officer in 2014 and was appointed Chief Operating Officer in 2022.お知らせ • Dec 20+ 3 more updatesMarel hf. to Report Q2, 2024 Results on Jul 24, 2024Marel hf. announced that they will report Q2, 2024 results After-Market on Jul 24, 2024お知らせ • Dec 12Marel Appoints Arni Sigurdsson as Chief Executive OfficerMarel announced that Arni Sigurdsson has been appointed as Chief Executive Officer with immediate effect. Arni Sigurdsson took over the role of Chief Business Officer and Deputy Chief Executive Officer of Marel in November 2022, and has held the role of Interim CEO since 7 November of this year. He joined Marel in 2014 initially as Head of Strategy before taking up the role of Chief Strategy Officer and Executive Vice President Strategic Business Units. Before joining Marel, Arni worked at AGC Partners and Landsbanki Islands. He graduated with an MBA degree from Harvard Business School and BSc in Industrial Engineering from the University of Iceland.お知らせ • Nov 29John Bean Technologies Corporation (NYSE:JBT) cancelled the acquisition of Marel hf. (ICSE:MAREL).John Bean Technologies Corporation (NYSE:JBT) made a non-binding initial proposal to acquire Marel hf. (ICSE:MAREL) for €2.4 billion on November 24, 2023. Under the terms, John Bean shall pay €3.15 per share for 100% of the outstanding shares in Marel wherein 25% of the proposed consideration would be paid in cash and 75% in the form of shares in JBT. The offer is subject to conclusion of a satisfactory due diligence, final approval by JBT´s board of directors, Regulatory approvals, vote of the JBT shareholders and minimum tender condition of 90%. Goldman Sachs Co LLC acted as financial advisor while LEX and Kirkland & Ellis LLP acted as legal advisors for JBT. JP Morgan acted as financial advisor while Baker McKenzie, BBA/Fjeldco and Osborne Clarke acted as legal advisors for Marel.John Bean Technologies Corporation (NYSE:JBT) cancelled the acquisition of Marel hf. (ICSE:MAREL) on November 28, 2023. The Board of Directors of Marel unanimously rejected the offer.Valuation Update With 7 Day Price Move • Nov 27Investor sentiment improves as stock rises 18%After last week's 18% share price gain to Kr419, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 13x in the Machinery industry in Europe. Total loss to shareholders of 38% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Kr528 per share.お知らせ • Nov 26JBT Corporation Confirms Non-Binding Proposal to Acquire MarelJohn Bean Technologies Corporation (NYSE:JBT) (‘JBT’ or the ‘Company’) issued the following statement: ‘On November 24, 2023, JBT confirmed that it has submitted a non-binding initial proposal to the board of directors of Marel hf. (ICSE:MAREL) (‘Marel’), whose shares are listed on Nasdaq Iceland and Euronext Amsterdam, in respect of a potential voluntary takeover offer for the entire share capital of Marel in accordance with Chapters X and XII of the Icelandic Takeovers Act no. 108/2007. JBT has received an irrevocable undertaking and entered into exclusivity with respect to the shares owned by Eyrir Invest hf., which holds 24.7% of the shares in Marel. This announcement follows Marel’s disclosure that it had received a potential offer to acquire all shares in the company’. ‘JBT´s non-binding proposal is consistent with the company’s strategic plan and M&A objective of pursuing transactions with strong industrial logic and significant synergy potential while maintaining a strong balance sheet and preserving future strategic flexibility’. ‘JBT’s considerations are at a preliminary stage and there can be no assurance that any formal offer will be made as a result of these considerations. JBT does not intend to comment further unless and until its board determines that it is required or appropriate to do so.’ Goldman Sachs Co LLC is acting as JBT’s financial advisor and LEX and Kirkland & Ellis LLP are serving as legal counsel.お知らせ • Nov 08Marel hf. Announces CEO ChangesMarel hf. announced Arni Oddur Thordarson, Chief Executive Officer of Marel, has tendered his resignation with immediate effect, due to personal reasons. The Board of Directors of Marel has accepted his resignation and appointed Arni Sigurdsson, Deputy Chief Executive Officer, as Interim Chief Executive Officer of Marel effective immediately. The Board of Directors will now undertake a process to appoint a permanent Chief Executive Officer. Arni Sigurdsson joined Marel in 2014 initially as Head of Strategy, then from 2020 - 2022 held the role of Chief Strategy Officer and Executive Vice President Strategic Business Units before assuming the position of Chief Business Officer and Deputy CEO in November 2022. Before joining Marel he worked at AGC Partners and Landsbanki Islands. He graduated with an MBA degree from Harvard Business School and BSc in Industrial Engineering from the University of Iceland.Major Estimate Revision • Oct 31Consensus EPS estimates fall by 29%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from €1.76b to €1.70b. EPS estimate also fell from €0.07 per share to €0.05 per share. Net income forecast to grow 114% next year vs 9.7% growth forecast for Machinery industry in Europe. Consensus price target down from Kr609 to Kr517. Share price rose 7.0% to Kr380 over the past week.お知らせ • Oct 26Marel hf. Provides Earnings Guidance for the period 2017-2026Marel hf. provided earnings guidance for the period 2017-2026. The company reported management is committed to the financial targets to reach 14-16% EBIT, gross profit of ~38-40% of revenues. Focus on delivering healthy growth and margin enhancement to reach a sustainable 14-16% EBIT level in the course of 2024. In the period 2017-2026, Marel is targeting 12% average annual revenue growth through market penetration and innovation, complemented by strategic partnerships and acquisitions. Maintaining solid operational performance and strong cash flow is expected to support 5-7% revenue growth on average by acquisition. Marel’s management expects average annual market growth of 4-6% in the long term. Marel aims to grow organically faster than the market, driven by innovation and growing market penetration. Recurring aftermarket revenues to reach 50% of total revenues by YE26, including software and services. Marel’s management expects basic EPS to grow faster than revenues.Reported Earnings • Oct 25Third quarter 2023 earnings released: EPS: €0.013 (vs €0.012 in 3Q 2022)Third quarter 2023 results: EPS: €0.013 (up from €0.012 in 3Q 2022). Revenue: €403.6m (down 10% from 3Q 2022). Net income: €10.1m (up 14% from 3Q 2022). Profit margin: 2.5% (up from 2.0% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Machinery industry in Europe. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings.Buying Opportunity • Sep 28Now 22% undervalued after recent price dropOver the last 90 days, the stock is down 9.0%. The fair value is estimated to be Kr505, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has declined by 22%. For the next 3 years, revenue is forecast to grow by 4.4% per annum. Earnings is also forecast to grow by 33% per annum over the same time period.分析記事 • Sep 23Estimating The Intrinsic Value Of Marel hf. (ICE:MAREL)Key Insights The projected fair value for Marel hf is Kr510 based on 2 Stage Free Cash Flow to Equity Marel hf's Kr442...分析記事 • Sep 02Marel hf (ICE:MAREL) Has A Somewhat Strained Balance SheetWarren Buffett famously said, 'Volatility is far from synonymous with risk.' So it seems the smart money knows that...Board Change • Sep 01Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 3 highly experienced directors. Independent Director Svafa Gronfeldt was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.Reported Earnings • Jul 30Second quarter 2023 earnings released: EPS: €0.004 (vs €0.013 in 2Q 2022)Second quarter 2023 results: EPS: €0.004 (down from €0.013 in 2Q 2022). Revenue: €422.4m (up 6.3% from 2Q 2022). Net income: €3.10m (down 68% from 2Q 2022). Profit margin: 0.7% (down from 2.4% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Machinery industry in Europe. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings.分析記事 • Jun 17A Look At The Intrinsic Value Of Marel hf. (ICE:MAREL)Key Insights Using the 2 Stage Free Cash Flow to Equity, Marel hf fair value estimate is Kr467 Marel hf's Kr421 share...分析記事 • May 30Marel hf (ICE:MAREL) Takes On Some Risk With Its Use Of DebtWarren Buffett famously said, 'Volatility is far from synonymous with risk.' So it might be obvious that you need to...Major Estimate Revision • May 19Consensus EPS estimates fall by 44%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from €1.89b to €1.86b. EPS estimate also fell from €0.16 per share to €0.09 per share. Net income forecast to grow 111% next year vs 16% growth forecast for Machinery industry in Europe. Consensus price target down from Kr680 to Kr598. Share price fell 6.5% to Kr433 over the past week.Valuation Update With 7 Day Price Move • May 10Investor sentiment deteriorates as stock falls 24%After last week's 24% share price decline to Kr454, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 15x in the Machinery industry in Europe. Total loss to shareholders of 29% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Kr489 per share.Reported Earnings • May 04First quarter 2023 earnings released: EPS: €0.012 (vs €0.029 in 1Q 2022)First quarter 2023 results: EPS: €0.012 (down from €0.029 in 1Q 2022). Revenue: €447.4m (up 20% from 1Q 2022). Net income: €9.10m (down 58% from 1Q 2022). Profit margin: 2.0% (down from 5.8% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Machinery industry in Europe. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings.Upcoming Dividend • Mar 17Upcoming dividend of €0.016 per share at 0.4% yieldEligible shareholders must have bought the stock before 24 March 2023. Payment date: 14 April 2023. Payout ratio is a comfortable 20% but the company is not cash flow positive. Trailing yield: 0.4%. Lower than top quartile of Icelandic dividend payers (4.9%). Lower than average of industry peers (2.8%).分析記事 • Mar 16Estimating The Intrinsic Value Of Marel hf. (ICE:MAREL)Key Insights Marel hf's estimated fair value is Kr463 based on 2 Stage Free Cash Flow to Equity Marel hf's Kr538 share...分析記事 • Mar 16This Is Why We Think Marel hf.'s (ICE:MAREL) CEO Might Get A Pay Rise Approved By ShareholdersKey Insights Marel hf to hold its Annual General Meeting on 22nd of March Total pay for CEO Arni Thordarson includes...分析記事 • Feb 25Here's Why Marel hf (ICE:MAREL) Has A Meaningful Debt BurdenHoward Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...Reported Earnings • Feb 13Full year 2022 earnings: EPS and revenues exceed analyst expectationsFull year 2022 results: EPS: €0.078 (down from €0.13 in FY 2021). Revenue: €1.71b (up 26% from FY 2021). Net income: €58.7m (down 39% from FY 2021). Profit margin: 3.4% (down from 7.1% in FY 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) also surpassed analyst estimates by 11%. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Machinery industry in Europe. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.お知らせ • Feb 09Marel hf. to Propose Dividend for 2022Marel hf. proposed Dividend of EUR 11.7 million, or 20% payout ratio, to be proposed by the Board at the AGM 2023, in line with Marel’s dividend policy of 20-40%.お知らせ • Dec 15+ 4 more updatesMarel hf., Annual General Meeting, Mar 20, 2024Marel hf., Annual General Meeting, Mar 20, 2024.分析記事 • Dec 10A Look At The Fair Value Of Marel hf. (ICE:MAREL)Does the December share price for Marel hf. ( ICE:MAREL ) reflect what it's really worth? Today, we will estimate the...分析記事 • Nov 22Is Marel hf (ICE:MAREL) A Risky Investment?The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Major Estimate Revision • Nov 18Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 EPS estimate fell from €0.08 to €0.07 per share. Revenue forecast steady at €1.67b. Net income forecast to grow 63% next year vs 12% growth forecast for Machinery industry in Europe. Consensus price target broadly unchanged at Kr685. Share price rose 4.1% to Kr531 over the past week.Reported Earnings • Nov 03Third quarter 2022 earnings released: EPS: €0.012 (vs €0.031 in 3Q 2021)Third quarter 2022 results: EPS: €0.012 (down from €0.031 in 3Q 2021). Revenue: €450.6m (up 36% from 3Q 2021). Net income: €8.90m (down 62% from 3Q 2021). Profit margin: 2.0% (down from 7.1% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.2% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Machinery industry in Europe. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings.Valuation Update With 7 Day Price Move • Nov 01Investor sentiment improved over the past weekAfter last week's 16% share price gain to Kr520, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 13x in the Machinery industry in Europe. Total loss to shareholders of 8.2% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Kr571 per share.Major Estimate Revision • Sep 24Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 EPS estimate fell from €0.10 to €0.08. Revenue forecast unchanged from €1.64b at last update. Net income forecast to grow 19% next year vs 18% growth forecast for Machinery industry in Europe. Consensus price target broadly unchanged at Kr636. Share price fell 11% to Kr478 over the past week.Valuation Update With 7 Day Price Move • Sep 22Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to Kr476, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 12x in the Machinery industry in Europe. Total loss to shareholders of 14% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Kr689 per share.Buying Opportunity • Sep 16Now 22% undervalued after recent price dropOver the last 90 days, the stock is down 6.0%. The fair value is estimated to be Kr690, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.1% over the last 3 years. Earnings per share has declined by 13%. For the next 3 years, revenue is forecast to grow by 9.6% per annum. Earnings is also forecast to grow by 31% per annum over the same time period.分析記事 • Sep 10Marel hf.'s (ICE:MAREL) Intrinsic Value Is Potentially 28% Above Its Share PriceDoes the September share price for Marel hf. ( ICE:MAREL ) reflect what it's really worth? Today, we will estimate the...Buying Opportunity • Aug 23Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 9.9%. The fair value is estimated to be Kr685, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.1% over the last 3 years. Earnings per share has declined by 13%. For the next 3 years, revenue is forecast to grow by 9.6% per annum. Earnings is also forecast to grow by 31% per annum over the same time period.Major Estimate Revision • Aug 09Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 revenue forecast increased from €1.62b to €1.64b. EPS estimate fell from €0.15 to €0.10 per share. Net income forecast to grow 21% next year vs 14% growth forecast for Machinery industry in Europe. Consensus price target down from Kr953 to Kr644. Share price was steady at Kr600 over the past week.Reported Earnings • Jul 28Second quarter 2022 earnings released: EPS: €0.013 (vs €0.031 in 2Q 2021)Second quarter 2022 results: EPS: €0.013 (down from €0.031 in 2Q 2021). Revenue: €397.3m (up 21% from 2Q 2021). Net income: €9.60m (down 59% from 2Q 2021). Profit margin: 2.4% (down from 7.2% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 15%, compared to a 14% growth forecast for the industry in Europe. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.Buying Opportunity • Jul 20Now 22% undervalued after recent price dropOver the last 90 days, the stock is down 17%. The fair value is estimated to be Kr773, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.9% over the last 3 years. Earnings per share has declined by 14%. Revenue is forecast to grow by 31% in 2 years. Earnings is forecast to grow by 74% in the next 2 years.分析記事 • May 31Marel hf (ICE:MAREL) Seems To Use Debt Quite SensiblyWarren Buffett famously said, 'Volatility is far from synonymous with risk.' So it seems the smart money knows that...Major Estimate Revision • May 07Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 revenue forecast increased from €1.50b to €1.57b. EPS estimate fell from €0.18 to €0.15 per share. Net income forecast to grow 30% next year vs 17% growth forecast for Machinery industry in Europe. Consensus price target up from Kr899 to Kr940. Share price fell 4.0% to Kr668 over the past week.Reported Earnings • Apr 28First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behindFirst quarter 2022 results: EPS: €0.029 (up from €0.028 in 1Q 2021). Revenue: €371.6m (up 11% from 1Q 2021). Net income: €21.7m (up 2.4% from 1Q 2021). Profit margin: 5.8% (down from 6.3% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.4%. Earnings per share (EPS) missed analyst estimates by 9.1%. Over the next year, revenue is forecast to grow 9.8%, compared to a 16% growth forecast for the industry in Europe. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.お知らせ • Apr 23Marel hf. (ICSE:MAREL) acquired Sleegers Technique.Marel hf. (ICSE:MAREL) acquired Sleegers Technique on April 22, 2022. For the year 2021, Sleegers Technique reported turnover of €5 million. Marel hf. (ICSE:MAREL) completed the acquisition of Sleegers Technique on April 22, 2022.分析記事 • Apr 23Is Marel hf. (ICE:MAREL) Expensive For A Reason? A Look At Its Intrinsic ValueIn this article we are going to estimate the intrinsic value of Marel hf. ( ICE:MAREL ) by taking the expected future...Upcoming Dividend • Mar 11Upcoming dividend of €0.051 per shareEligible shareholders must have bought the stock before 18 March 2022. Payment date: 30 March 2022. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of Icelandic dividend payers (6.2%). Lower than average of industry peers (2.3%).お知らせ • Mar 10+ 1 more updateMarel Hf. Announces Executive ChangesMarel hf. announced that Linda Jonsdottir is appointed Chief Operating Officer (COO). She will focus on human resources and cross-functional transformational investments aimed at increasing operational efficiency to achieve the mid-term targets, as well as digitizing and automating Marel’s global supply chain. Folkert Bolger, Executive Vice President of Global Supply Chain, is leaving Marel.分析記事 • Mar 09Shareholders Will Probably Not Have Any Issues With Marel hf.'s (ICE:MAREL) CEO CompensationThe share price of Marel hf. ( ICE:MAREL ) has increased significantly over the past few years. However, the earnings...分析記事 • Mar 01Marel hf (ICE:MAREL) Seems To Use Debt Quite SensiblySome say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...Major Estimate Revision • Feb 11Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 revenue forecast increased from €1.50b to €1.52b. EPS estimate fell from €0.20 to €0.18 per share. Net income forecast to grow 37% next year vs 19% growth forecast for Machinery industry in Europe. Consensus price target broadly unchanged at Kr944. Share price rose 2.6% to Kr798 over the past week.Reported Earnings • Feb 08Full year 2021 earnings: EPS misses analyst expectationsFull year 2021 results: EPS: €0.13 (down from €0.14 in FY 2020). Revenue: €1.36b (up 9.9% from FY 2020). Net income: €96.8m (down 5.6% from FY 2020). Profit margin: 7.1% (down from 8.3% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 9.1%. Over the next year, revenue is forecast to grow 12%, compared to a 16% growth forecast for the industry in Europe. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings.お知らせ • Feb 04Marel hf. Proposes Dividend for the Year 2021Marel hf. announced that In line with Marel’s targeted capital allocation and dividend policy of 20-40% payout ratio, the Board of Directors will propose a 40% payout ratio at the 2022 Annual General Meeting, to be held on 16 March 2022 (2021: 40%, 2020: 40%). Based on a EUR 5.12 cents dividend per outstanding share paid for the operational year 2021, or 6% lower per share than in 2020, the estimated total dividend payment will be around EUR 38.7m.分析記事 • Jan 22Marel hf (ICE:MAREL) Hasn't Managed To Accelerate Its ReturnsIf you're looking for a multi-bagger, there's a few things to keep an eye out for. One common approach is to try and...分析記事 • Jan 05Estimating The Fair Value Of Marel hf. (ICE:MAREL)Today we will run through one way of estimating the intrinsic value of Marel hf. ( ICE:MAREL ) by taking the forecast...分析記事 • Nov 20We Think Marel hf (ICE:MAREL) Can Stay On Top Of Its DebtThe external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Reported Earnings • Oct 22Third quarter 2021 earnings released: EPS €0.031 (vs €0.039 in 3Q 2020)The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: €331.9m (up 16% from 3Q 2020). Net income: €23.4m (down 20% from 3Q 2020). Profit margin: 7.1% (down from 10% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 28% per year, which means it is well ahead of earnings.分析記事 • Oct 20Investors Met With Slowing Returns on Capital At Marel hf (ICE:MAREL)To find a multi-bagger stock, what are the underlying trends we should look for in a business? Firstly, we'd want to...分析記事 • Oct 02Does This Valuation Of Marel hf. (ICE:MAREL) Imply Investors Are Overpaying?In this article we are going to estimate the intrinsic value of Marel hf. ( ICE:MAREL ) by taking the expected future...分析記事 • Aug 10Marel hf (ICE:MAREL) Has A Rock Solid Balance SheetThe external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Reported Earnings • Jul 23Second quarter 2021 earnings released: EPS €0.031 (vs €0.041 in 2Q 2020)The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: €327.5m (up 7.1% from 2Q 2020). Net income: €23.6m (down 23% from 2Q 2020). Profit margin: 7.2% (down from 10.0% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 35% per year, which means it is well ahead of earnings.お知らせ • Jul 07Marel hf. (ICSE:MAREL) agreed to acquire 90% stake in Valka ehf.Marel hf. (ICSE:MAREL) agreed to acquire 90% stake in Valka ehf. on July 5, 2021. The purchase price is paid 50% in cash and 50% in Marel shares, except for smaller shareholders who will have the option of a full cash payment. Sellers that receive Marel shares will undertake a lock-up period of 18 months. Marel will offer all remaining shareholders to acquire their shares on the same terms with the objective to acquire 100% of the shares. The acquisition is financed through Marel's strong balance sheet, existing credit facilities, and available treasury shares. Valka ehf reported revenues of €17 million in 2020. Helgi Hjálmarsson, Valka's Founder and Chief Executive Officer will take on a role as Director of Solution Integrity within Marel. The closing of the acquisition is subject to customary closing conditions, including anti-trust approval from the Icelandic Anti-trust Authority, and is expected to take place later this year.業績と収益の成長予測ICSE:MAREL - アナリストの将来予測と過去の財務データ ( )EUR Millions日付収益収益フリー・キャッシュフロー営業活動によるキャッシュ平均アナリスト数12/31/20261,877134184261412/31/20251,78097146218512/31/20241,7034715220559/30/20241,6631152102N/A6/30/20241,679184197N/A3/31/20241,6871958128N/A12/31/20231,7213152138N/A9/30/20231,76341-1779N/A6/30/20231,81040-7135N/A3/31/20231,78546-6340N/A12/31/20221,70959-3751N/A9/30/20221,58769-2269N/A6/30/20221,468831393N/A3/31/20221,3989777150N/A12/31/20211,36197105176N/A9/30/20211,33797108168N/A6/30/20211,292103146207N/A3/31/20211,270110138194N/A12/31/20201,238103128183N/A9/30/20201,21584156201N/A6/30/20201,24088148185N/A3/31/20201,2619197134N/A12/31/20191,284110105143N/A9/30/20191,294138100142N/A6/30/20191,26413181131N/A3/31/20191,234126118175N/A12/31/20181,198122110167N/A9/30/20181,162118105166N/A6/30/20181,127115N/A208N/A3/31/20181,074104N/A207N/A12/31/20171,03897N/A196N/A9/30/201799486N/A209N/A6/30/201798180N/A171N/A3/31/20171,00283N/A163N/A12/31/201697076N/A137N/A9/30/201692263N/A92N/A6/30/201687660N/A89N/A3/31/201683058N/A68N/A12/31/201581957N/A94N/A9/30/201581750N/A101N/A6/30/201581645N/A102N/A3/31/201576726N/A102N/A12/31/201471312N/A86N/A9/30/201468112N/A88N/A6/30/20146509N/A60N/A3/31/201465813N/A66N/A12/31/201366221N/A65N/Aもっと見るアナリストによる今後の成長予測収入対貯蓄率: MARELの予測収益成長率 (年間39.7% ) は 貯蓄率 ( 5.7% ) を上回っています。収益対市場: MARELの収益 ( 39.7% ) はIS市場 ( 11.9% ) よりも速いペースで成長すると予測されています。高成長収益: MARELの収益は今後 3 年間で 大幅に 増加すると予想されています。収益対市場: MARELの収益 ( 5% ) IS市場 ( 5.3% ) よりも速いペースで成長すると予測されています。高い収益成長: MARELの収益 ( 5% ) 20%よりも低い成長が予測されています。一株当たり利益成長率予想将来の株主資本利益率将来のROE: MARELの 自己資本利益率 は、3年後には低くなると予測されています ( 11.2 %)。成長企業の発掘7D1Y7D1Y7D1YCapital-goods 業界の高成長企業。View Past Performance企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2024/12/23 00:41終値2024/12/20 00:00収益2024/09/30年間収益2023/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレークこのレポートを生成するために使用した分析モデルの詳細は、当社のGitHubページでご覧いただけます。また、レポートの活用方法に関するガイドやYouTubeのチュートリアルも用意しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Marel hf. 5 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。1 アナリスト機関Tijs HollestelleING Groep NV
Major Estimate Revision • Nov 03Consensus EPS estimates fall by 40%The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from €0.05 to €0.03 per share. Revenue forecast steady at €1.70b. Net income forecast to grow 311% next year vs 14% growth forecast for Machinery industry in Europe. Consensus price target of Kr540 unchanged from last update. Share price rose 2.1% to Kr582 over the past week.
Major Estimate Revision • Jul 31Consensus EPS estimates fall by 38%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from €1.73b to €1.71b. EPS estimate also fell from €0.08 per share to €0.05 per share. Net income forecast to grow 350% next year vs 14% growth forecast for Machinery industry in Europe. Consensus price target broadly unchanged at Kr541. Share price was steady at Kr504 over the past week.
Major Estimate Revision • May 14Consensus EPS estimates fall by 27%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from €1.76b to €1.74b. EPS estimate also fell from €0.11 per share to €0.08 per share. Net income forecast to grow 348% next year vs 14% growth forecast for Machinery industry in Europe. Consensus price target broadly unchanged at Kr538. Share price was steady at Kr486 over the past week.
Major Estimate Revision • Oct 31Consensus EPS estimates fall by 29%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from €1.76b to €1.70b. EPS estimate also fell from €0.07 per share to €0.05 per share. Net income forecast to grow 114% next year vs 9.7% growth forecast for Machinery industry in Europe. Consensus price target down from Kr609 to Kr517. Share price rose 7.0% to Kr380 over the past week.
お知らせ • Oct 26Marel hf. Provides Earnings Guidance for the period 2017-2026Marel hf. provided earnings guidance for the period 2017-2026. The company reported management is committed to the financial targets to reach 14-16% EBIT, gross profit of ~38-40% of revenues. Focus on delivering healthy growth and margin enhancement to reach a sustainable 14-16% EBIT level in the course of 2024. In the period 2017-2026, Marel is targeting 12% average annual revenue growth through market penetration and innovation, complemented by strategic partnerships and acquisitions. Maintaining solid operational performance and strong cash flow is expected to support 5-7% revenue growth on average by acquisition. Marel’s management expects average annual market growth of 4-6% in the long term. Marel aims to grow organically faster than the market, driven by innovation and growing market penetration. Recurring aftermarket revenues to reach 50% of total revenues by YE26, including software and services. Marel’s management expects basic EPS to grow faster than revenues.
Major Estimate Revision • May 19Consensus EPS estimates fall by 44%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from €1.89b to €1.86b. EPS estimate also fell from €0.16 per share to €0.09 per share. Net income forecast to grow 111% next year vs 16% growth forecast for Machinery industry in Europe. Consensus price target down from Kr680 to Kr598. Share price fell 6.5% to Kr433 over the past week.
お知らせ • Dec 30Marel hf.(ICSE:MAREL) dropped from FTSE All-World Index (USD)Marel hf.(ICSE:MAREL) dropped from FTSE All-World Index (USD)
Reported Earnings • Nov 04Third quarter 2024 earnings released: EPS: €0.005 (vs €0.013 in 3Q 2023)Third quarter 2024 results: EPS: €0.005 (down from €0.013 in 3Q 2023). Revenue: €386.9m (down 4.1% from 3Q 2023). Net income: €3.80m (down 62% from 3Q 2023). Profit margin: 1.0% (down from 2.5% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Machinery industry in Europe. Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings.
Major Estimate Revision • Nov 03Consensus EPS estimates fall by 40%The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from €0.05 to €0.03 per share. Revenue forecast steady at €1.70b. Net income forecast to grow 311% next year vs 14% growth forecast for Machinery industry in Europe. Consensus price target of Kr540 unchanged from last update. Share price rose 2.1% to Kr582 over the past week.
Buy Or Sell Opportunity • Oct 25Now 20% undervaluedOver the last 90 days, the stock has risen 14% to Kr570. The fair value is estimated to be Kr716, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has declined by 52%. For the next 3 years, revenue is forecast to grow by 4.8% per annum. Earnings are also forecast to grow by 38% per annum over the same time period.
お知らせ • Aug 28John Bean Technologies Gets Extension of Acceptance Period for Marel OfferJohn Bean Technologies Corporation (NYSE:JBT) has been granted an extension of the acceptance period of its takeover offer for Marel hf. (ICSE:MAREL). The move will enable the parties to secure the necessary regulatory nods to close their deal, JBT said on August 26, 2024. The offer, originally set to end on September 2, will now close on the earlier of either November 11 or three weeks after all necessary regulatory approvals are obtained, unless the offer period is further extended. JBT Chief Executive Officer Brian Deck said that despite the extension, the firm still expects to complete the transaction by the end of 2024. Under the terms of the deal, sealed in April, the buyer launched its EUR-3.60-per-share (USD 4.02) takeover offer for all outstanding shares of Marel in June. As agreed, Marel shareholders can elect to receive the proposed consideration only in cash, only in stock or in cash and stock, with the total consideration mix being 65% in JBT common stock and 35% in cash. Marel shareholders will thus own a 38% take in the combined entity and receive a total of EUR 950 million in cash.
Major Estimate Revision • Jul 31Consensus EPS estimates fall by 38%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from €1.73b to €1.71b. EPS estimate also fell from €0.08 per share to €0.05 per share. Net income forecast to grow 350% next year vs 14% growth forecast for Machinery industry in Europe. Consensus price target broadly unchanged at Kr541. Share price was steady at Kr504 over the past week.
Reported Earnings • Jul 25Second quarter 2024 earnings released: EPS: €0.003 (vs €0.004 in 2Q 2023)Second quarter 2024 results: EPS: €0.003 (down from €0.004 in 2Q 2023). Revenue: €415.2m (down 1.7% from 2Q 2023). Net income: €2.10m (down 32% from 2Q 2023). Profit margin: 0.5% (down from 0.7% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Machinery industry in Europe. Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings.
Buy Or Sell Opportunity • Jul 25Now 20% undervaluedOver the last 90 days, the stock has risen 2.5% to Kr500. The fair value is estimated to be Kr625, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has declined by 46%. For the next 3 years, revenue is forecast to grow by 5.4% per annum. Earnings are also forecast to grow by 33% per annum over the same time period.
Major Estimate Revision • May 14Consensus EPS estimates fall by 27%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from €1.76b to €1.74b. EPS estimate also fell from €0.11 per share to €0.08 per share. Net income forecast to grow 348% next year vs 14% growth forecast for Machinery industry in Europe. Consensus price target broadly unchanged at Kr538. Share price was steady at Kr486 over the past week.
Reported Earnings • May 08First quarter 2024 earnings released: €0.004 loss per share (vs €0.012 profit in 1Q 2023)First quarter 2024 results: €0.004 loss per share (down from €0.012 profit in 1Q 2023). Revenue: €412.6m (down 7.8% from 1Q 2023). Net loss: €3.20m (down 135% from profit in 1Q 2023). Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Machinery industry in Europe. Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings.
お知らせ • Apr 06JBT Corporation and Marel hf. Announce Management ChangesJBT Corporation announced that JBT and Marel hf. have executed a definitive transaction agreement related to JBT’s previously announced intention to make a voluntary takeover offer for all of the issued and outstanding shares of Marel. The transaction agreement includes the terms of the offer and other important governance, social, and operating items relating to the proposed business combination of JBT and Marel. The transaction agreement was approved by the boards of directors of both companies. The transaction agreement provides that Brian Deck will serve as Chief Executive Officer (CEO) of the combined company, Arni Sigurdsson will be President of the combined company, and the remainder of the executive leadership positions will be a combination of talent from both companies. The combined company’s board of directors will consist of five independent directors from the pre-closing JBT Board of Directors, four independent directors from the pre-closing Marel Board of Directors, and the CEO of the combined company. Alan Feldman will serve as Chairman of the Board of the combined company.
Board Change • Apr 01Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. Independent Director Svafa Gronfeldt was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
Buy Or Sell Opportunity • Mar 25Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 4.8% to Kr453. The fair value is estimated to be Kr571, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has declined by 38%. For the next 3 years, revenue is forecast to grow by 4.6% per annum. Earnings are also forecast to grow by 28% per annum over the same time period.
お知らせ • Mar 05Marel hf. Announces Chief Financial Officer ChangesMarel hf. announced that Sebastiaan Boelen has been appointed as Chief Financial Officer with immediate effect. Sebastiaan is a Dutch-British national and a highly experienced CFO with over 25 years in international CFO and financial roles. He has worked across a number of industries including industrials, food and beverage, and technology and, he has a proven record in supporting businesses deliver enhanced financial performances. Most recently Sebastiaan spent 4 years at Southern Water where he served as Group Chief Financial Officer. Prior to this, Sebastiaan held CFO and senior financial roles at Arrow Global, SPI Group and Black & Decker, amongst others. After almost 10 years with Marel, by mutual agreement, Stacey Katz will step down as Chief Financial Officer of Marel with immediate effect. She will remain available in an advisory capacity at Marel until the end of the financial year to ensure a smooth transition to the experienced finance team and continued delivery of its strategy.
Board Change • Feb 28Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 3 highly experienced directors. Independent Director Svafa Gronfeldt was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
Declared Dividend • Feb 28Dividend of €0.0082 announcedShareholders will receive a dividend of €0.0082. Ex-date: 22nd March 2024 Payment date: 11th April 2024 Dividend yield will be 0.002%, which is lower than the industry average of 2.1%. Payout Ratios Payout ratio: 20%. Cash payout ratio: 12%.
お知らせ • Jan 17Marel hf. Announces Linda Jonsdottir to Step Down as Chief Operating OfficerLinda Jonsdottir has decided to step down from her role as Chief Operating Officer and is leaving Marel hf. Simultaneously the role of Chief Operating Officer will be discontinued. Going forward, the management of the business functions and customer centers will be moved to other members of the executive leadership following a transition plan where Linda will be on hand to ensure a smooth handover of responsibilities internally. Linda joined Marel in 2009 as Corporate Director of Treasury and Investor Relations, she became Chief Financial Officer in 2014 and was appointed Chief Operating Officer in 2022.
お知らせ • Dec 20+ 3 more updatesMarel hf. to Report Q2, 2024 Results on Jul 24, 2024Marel hf. announced that they will report Q2, 2024 results After-Market on Jul 24, 2024
お知らせ • Dec 12Marel Appoints Arni Sigurdsson as Chief Executive OfficerMarel announced that Arni Sigurdsson has been appointed as Chief Executive Officer with immediate effect. Arni Sigurdsson took over the role of Chief Business Officer and Deputy Chief Executive Officer of Marel in November 2022, and has held the role of Interim CEO since 7 November of this year. He joined Marel in 2014 initially as Head of Strategy before taking up the role of Chief Strategy Officer and Executive Vice President Strategic Business Units. Before joining Marel, Arni worked at AGC Partners and Landsbanki Islands. He graduated with an MBA degree from Harvard Business School and BSc in Industrial Engineering from the University of Iceland.
お知らせ • Nov 29John Bean Technologies Corporation (NYSE:JBT) cancelled the acquisition of Marel hf. (ICSE:MAREL).John Bean Technologies Corporation (NYSE:JBT) made a non-binding initial proposal to acquire Marel hf. (ICSE:MAREL) for €2.4 billion on November 24, 2023. Under the terms, John Bean shall pay €3.15 per share for 100% of the outstanding shares in Marel wherein 25% of the proposed consideration would be paid in cash and 75% in the form of shares in JBT. The offer is subject to conclusion of a satisfactory due diligence, final approval by JBT´s board of directors, Regulatory approvals, vote of the JBT shareholders and minimum tender condition of 90%. Goldman Sachs Co LLC acted as financial advisor while LEX and Kirkland & Ellis LLP acted as legal advisors for JBT. JP Morgan acted as financial advisor while Baker McKenzie, BBA/Fjeldco and Osborne Clarke acted as legal advisors for Marel.John Bean Technologies Corporation (NYSE:JBT) cancelled the acquisition of Marel hf. (ICSE:MAREL) on November 28, 2023. The Board of Directors of Marel unanimously rejected the offer.
Valuation Update With 7 Day Price Move • Nov 27Investor sentiment improves as stock rises 18%After last week's 18% share price gain to Kr419, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 13x in the Machinery industry in Europe. Total loss to shareholders of 38% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Kr528 per share.
お知らせ • Nov 26JBT Corporation Confirms Non-Binding Proposal to Acquire MarelJohn Bean Technologies Corporation (NYSE:JBT) (‘JBT’ or the ‘Company’) issued the following statement: ‘On November 24, 2023, JBT confirmed that it has submitted a non-binding initial proposal to the board of directors of Marel hf. (ICSE:MAREL) (‘Marel’), whose shares are listed on Nasdaq Iceland and Euronext Amsterdam, in respect of a potential voluntary takeover offer for the entire share capital of Marel in accordance with Chapters X and XII of the Icelandic Takeovers Act no. 108/2007. JBT has received an irrevocable undertaking and entered into exclusivity with respect to the shares owned by Eyrir Invest hf., which holds 24.7% of the shares in Marel. This announcement follows Marel’s disclosure that it had received a potential offer to acquire all shares in the company’. ‘JBT´s non-binding proposal is consistent with the company’s strategic plan and M&A objective of pursuing transactions with strong industrial logic and significant synergy potential while maintaining a strong balance sheet and preserving future strategic flexibility’. ‘JBT’s considerations are at a preliminary stage and there can be no assurance that any formal offer will be made as a result of these considerations. JBT does not intend to comment further unless and until its board determines that it is required or appropriate to do so.’ Goldman Sachs Co LLC is acting as JBT’s financial advisor and LEX and Kirkland & Ellis LLP are serving as legal counsel.
お知らせ • Nov 08Marel hf. Announces CEO ChangesMarel hf. announced Arni Oddur Thordarson, Chief Executive Officer of Marel, has tendered his resignation with immediate effect, due to personal reasons. The Board of Directors of Marel has accepted his resignation and appointed Arni Sigurdsson, Deputy Chief Executive Officer, as Interim Chief Executive Officer of Marel effective immediately. The Board of Directors will now undertake a process to appoint a permanent Chief Executive Officer. Arni Sigurdsson joined Marel in 2014 initially as Head of Strategy, then from 2020 - 2022 held the role of Chief Strategy Officer and Executive Vice President Strategic Business Units before assuming the position of Chief Business Officer and Deputy CEO in November 2022. Before joining Marel he worked at AGC Partners and Landsbanki Islands. He graduated with an MBA degree from Harvard Business School and BSc in Industrial Engineering from the University of Iceland.
Major Estimate Revision • Oct 31Consensus EPS estimates fall by 29%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from €1.76b to €1.70b. EPS estimate also fell from €0.07 per share to €0.05 per share. Net income forecast to grow 114% next year vs 9.7% growth forecast for Machinery industry in Europe. Consensus price target down from Kr609 to Kr517. Share price rose 7.0% to Kr380 over the past week.
お知らせ • Oct 26Marel hf. Provides Earnings Guidance for the period 2017-2026Marel hf. provided earnings guidance for the period 2017-2026. The company reported management is committed to the financial targets to reach 14-16% EBIT, gross profit of ~38-40% of revenues. Focus on delivering healthy growth and margin enhancement to reach a sustainable 14-16% EBIT level in the course of 2024. In the period 2017-2026, Marel is targeting 12% average annual revenue growth through market penetration and innovation, complemented by strategic partnerships and acquisitions. Maintaining solid operational performance and strong cash flow is expected to support 5-7% revenue growth on average by acquisition. Marel’s management expects average annual market growth of 4-6% in the long term. Marel aims to grow organically faster than the market, driven by innovation and growing market penetration. Recurring aftermarket revenues to reach 50% of total revenues by YE26, including software and services. Marel’s management expects basic EPS to grow faster than revenues.
Reported Earnings • Oct 25Third quarter 2023 earnings released: EPS: €0.013 (vs €0.012 in 3Q 2022)Third quarter 2023 results: EPS: €0.013 (up from €0.012 in 3Q 2022). Revenue: €403.6m (down 10% from 3Q 2022). Net income: €10.1m (up 14% from 3Q 2022). Profit margin: 2.5% (up from 2.0% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Machinery industry in Europe. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings.
Buying Opportunity • Sep 28Now 22% undervalued after recent price dropOver the last 90 days, the stock is down 9.0%. The fair value is estimated to be Kr505, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has declined by 22%. For the next 3 years, revenue is forecast to grow by 4.4% per annum. Earnings is also forecast to grow by 33% per annum over the same time period.
分析記事 • Sep 23Estimating The Intrinsic Value Of Marel hf. (ICE:MAREL)Key Insights The projected fair value for Marel hf is Kr510 based on 2 Stage Free Cash Flow to Equity Marel hf's Kr442...
分析記事 • Sep 02Marel hf (ICE:MAREL) Has A Somewhat Strained Balance SheetWarren Buffett famously said, 'Volatility is far from synonymous with risk.' So it seems the smart money knows that...
Board Change • Sep 01Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 3 highly experienced directors. Independent Director Svafa Gronfeldt was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
Reported Earnings • Jul 30Second quarter 2023 earnings released: EPS: €0.004 (vs €0.013 in 2Q 2022)Second quarter 2023 results: EPS: €0.004 (down from €0.013 in 2Q 2022). Revenue: €422.4m (up 6.3% from 2Q 2022). Net income: €3.10m (down 68% from 2Q 2022). Profit margin: 0.7% (down from 2.4% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Machinery industry in Europe. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings.
分析記事 • Jun 17A Look At The Intrinsic Value Of Marel hf. (ICE:MAREL)Key Insights Using the 2 Stage Free Cash Flow to Equity, Marel hf fair value estimate is Kr467 Marel hf's Kr421 share...
分析記事 • May 30Marel hf (ICE:MAREL) Takes On Some Risk With Its Use Of DebtWarren Buffett famously said, 'Volatility is far from synonymous with risk.' So it might be obvious that you need to...
Major Estimate Revision • May 19Consensus EPS estimates fall by 44%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from €1.89b to €1.86b. EPS estimate also fell from €0.16 per share to €0.09 per share. Net income forecast to grow 111% next year vs 16% growth forecast for Machinery industry in Europe. Consensus price target down from Kr680 to Kr598. Share price fell 6.5% to Kr433 over the past week.
Valuation Update With 7 Day Price Move • May 10Investor sentiment deteriorates as stock falls 24%After last week's 24% share price decline to Kr454, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 15x in the Machinery industry in Europe. Total loss to shareholders of 29% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Kr489 per share.
Reported Earnings • May 04First quarter 2023 earnings released: EPS: €0.012 (vs €0.029 in 1Q 2022)First quarter 2023 results: EPS: €0.012 (down from €0.029 in 1Q 2022). Revenue: €447.4m (up 20% from 1Q 2022). Net income: €9.10m (down 58% from 1Q 2022). Profit margin: 2.0% (down from 5.8% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Machinery industry in Europe. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings.
Upcoming Dividend • Mar 17Upcoming dividend of €0.016 per share at 0.4% yieldEligible shareholders must have bought the stock before 24 March 2023. Payment date: 14 April 2023. Payout ratio is a comfortable 20% but the company is not cash flow positive. Trailing yield: 0.4%. Lower than top quartile of Icelandic dividend payers (4.9%). Lower than average of industry peers (2.8%).
分析記事 • Mar 16Estimating The Intrinsic Value Of Marel hf. (ICE:MAREL)Key Insights Marel hf's estimated fair value is Kr463 based on 2 Stage Free Cash Flow to Equity Marel hf's Kr538 share...
分析記事 • Mar 16This Is Why We Think Marel hf.'s (ICE:MAREL) CEO Might Get A Pay Rise Approved By ShareholdersKey Insights Marel hf to hold its Annual General Meeting on 22nd of March Total pay for CEO Arni Thordarson includes...
分析記事 • Feb 25Here's Why Marel hf (ICE:MAREL) Has A Meaningful Debt BurdenHoward Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
Reported Earnings • Feb 13Full year 2022 earnings: EPS and revenues exceed analyst expectationsFull year 2022 results: EPS: €0.078 (down from €0.13 in FY 2021). Revenue: €1.71b (up 26% from FY 2021). Net income: €58.7m (down 39% from FY 2021). Profit margin: 3.4% (down from 7.1% in FY 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) also surpassed analyst estimates by 11%. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Machinery industry in Europe. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.
お知らせ • Feb 09Marel hf. to Propose Dividend for 2022Marel hf. proposed Dividend of EUR 11.7 million, or 20% payout ratio, to be proposed by the Board at the AGM 2023, in line with Marel’s dividend policy of 20-40%.
お知らせ • Dec 15+ 4 more updatesMarel hf., Annual General Meeting, Mar 20, 2024Marel hf., Annual General Meeting, Mar 20, 2024.
分析記事 • Dec 10A Look At The Fair Value Of Marel hf. (ICE:MAREL)Does the December share price for Marel hf. ( ICE:MAREL ) reflect what it's really worth? Today, we will estimate the...
分析記事 • Nov 22Is Marel hf (ICE:MAREL) A Risky Investment?The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...
Major Estimate Revision • Nov 18Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 EPS estimate fell from €0.08 to €0.07 per share. Revenue forecast steady at €1.67b. Net income forecast to grow 63% next year vs 12% growth forecast for Machinery industry in Europe. Consensus price target broadly unchanged at Kr685. Share price rose 4.1% to Kr531 over the past week.
Reported Earnings • Nov 03Third quarter 2022 earnings released: EPS: €0.012 (vs €0.031 in 3Q 2021)Third quarter 2022 results: EPS: €0.012 (down from €0.031 in 3Q 2021). Revenue: €450.6m (up 36% from 3Q 2021). Net income: €8.90m (down 62% from 3Q 2021). Profit margin: 2.0% (down from 7.1% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.2% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Machinery industry in Europe. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings.
Valuation Update With 7 Day Price Move • Nov 01Investor sentiment improved over the past weekAfter last week's 16% share price gain to Kr520, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 13x in the Machinery industry in Europe. Total loss to shareholders of 8.2% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Kr571 per share.
Major Estimate Revision • Sep 24Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 EPS estimate fell from €0.10 to €0.08. Revenue forecast unchanged from €1.64b at last update. Net income forecast to grow 19% next year vs 18% growth forecast for Machinery industry in Europe. Consensus price target broadly unchanged at Kr636. Share price fell 11% to Kr478 over the past week.
Valuation Update With 7 Day Price Move • Sep 22Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to Kr476, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 12x in the Machinery industry in Europe. Total loss to shareholders of 14% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Kr689 per share.
Buying Opportunity • Sep 16Now 22% undervalued after recent price dropOver the last 90 days, the stock is down 6.0%. The fair value is estimated to be Kr690, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.1% over the last 3 years. Earnings per share has declined by 13%. For the next 3 years, revenue is forecast to grow by 9.6% per annum. Earnings is also forecast to grow by 31% per annum over the same time period.
分析記事 • Sep 10Marel hf.'s (ICE:MAREL) Intrinsic Value Is Potentially 28% Above Its Share PriceDoes the September share price for Marel hf. ( ICE:MAREL ) reflect what it's really worth? Today, we will estimate the...
Buying Opportunity • Aug 23Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 9.9%. The fair value is estimated to be Kr685, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.1% over the last 3 years. Earnings per share has declined by 13%. For the next 3 years, revenue is forecast to grow by 9.6% per annum. Earnings is also forecast to grow by 31% per annum over the same time period.
Major Estimate Revision • Aug 09Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 revenue forecast increased from €1.62b to €1.64b. EPS estimate fell from €0.15 to €0.10 per share. Net income forecast to grow 21% next year vs 14% growth forecast for Machinery industry in Europe. Consensus price target down from Kr953 to Kr644. Share price was steady at Kr600 over the past week.
Reported Earnings • Jul 28Second quarter 2022 earnings released: EPS: €0.013 (vs €0.031 in 2Q 2021)Second quarter 2022 results: EPS: €0.013 (down from €0.031 in 2Q 2021). Revenue: €397.3m (up 21% from 2Q 2021). Net income: €9.60m (down 59% from 2Q 2021). Profit margin: 2.4% (down from 7.2% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 15%, compared to a 14% growth forecast for the industry in Europe. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.
Buying Opportunity • Jul 20Now 22% undervalued after recent price dropOver the last 90 days, the stock is down 17%. The fair value is estimated to be Kr773, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.9% over the last 3 years. Earnings per share has declined by 14%. Revenue is forecast to grow by 31% in 2 years. Earnings is forecast to grow by 74% in the next 2 years.
分析記事 • May 31Marel hf (ICE:MAREL) Seems To Use Debt Quite SensiblyWarren Buffett famously said, 'Volatility is far from synonymous with risk.' So it seems the smart money knows that...
Major Estimate Revision • May 07Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 revenue forecast increased from €1.50b to €1.57b. EPS estimate fell from €0.18 to €0.15 per share. Net income forecast to grow 30% next year vs 17% growth forecast for Machinery industry in Europe. Consensus price target up from Kr899 to Kr940. Share price fell 4.0% to Kr668 over the past week.
Reported Earnings • Apr 28First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behindFirst quarter 2022 results: EPS: €0.029 (up from €0.028 in 1Q 2021). Revenue: €371.6m (up 11% from 1Q 2021). Net income: €21.7m (up 2.4% from 1Q 2021). Profit margin: 5.8% (down from 6.3% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.4%. Earnings per share (EPS) missed analyst estimates by 9.1%. Over the next year, revenue is forecast to grow 9.8%, compared to a 16% growth forecast for the industry in Europe. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.
お知らせ • Apr 23Marel hf. (ICSE:MAREL) acquired Sleegers Technique.Marel hf. (ICSE:MAREL) acquired Sleegers Technique on April 22, 2022. For the year 2021, Sleegers Technique reported turnover of €5 million. Marel hf. (ICSE:MAREL) completed the acquisition of Sleegers Technique on April 22, 2022.
分析記事 • Apr 23Is Marel hf. (ICE:MAREL) Expensive For A Reason? A Look At Its Intrinsic ValueIn this article we are going to estimate the intrinsic value of Marel hf. ( ICE:MAREL ) by taking the expected future...
Upcoming Dividend • Mar 11Upcoming dividend of €0.051 per shareEligible shareholders must have bought the stock before 18 March 2022. Payment date: 30 March 2022. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of Icelandic dividend payers (6.2%). Lower than average of industry peers (2.3%).
お知らせ • Mar 10+ 1 more updateMarel Hf. Announces Executive ChangesMarel hf. announced that Linda Jonsdottir is appointed Chief Operating Officer (COO). She will focus on human resources and cross-functional transformational investments aimed at increasing operational efficiency to achieve the mid-term targets, as well as digitizing and automating Marel’s global supply chain. Folkert Bolger, Executive Vice President of Global Supply Chain, is leaving Marel.
分析記事 • Mar 09Shareholders Will Probably Not Have Any Issues With Marel hf.'s (ICE:MAREL) CEO CompensationThe share price of Marel hf. ( ICE:MAREL ) has increased significantly over the past few years. However, the earnings...
分析記事 • Mar 01Marel hf (ICE:MAREL) Seems To Use Debt Quite SensiblySome say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
Major Estimate Revision • Feb 11Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 revenue forecast increased from €1.50b to €1.52b. EPS estimate fell from €0.20 to €0.18 per share. Net income forecast to grow 37% next year vs 19% growth forecast for Machinery industry in Europe. Consensus price target broadly unchanged at Kr944. Share price rose 2.6% to Kr798 over the past week.
Reported Earnings • Feb 08Full year 2021 earnings: EPS misses analyst expectationsFull year 2021 results: EPS: €0.13 (down from €0.14 in FY 2020). Revenue: €1.36b (up 9.9% from FY 2020). Net income: €96.8m (down 5.6% from FY 2020). Profit margin: 7.1% (down from 8.3% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 9.1%. Over the next year, revenue is forecast to grow 12%, compared to a 16% growth forecast for the industry in Europe. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings.
お知らせ • Feb 04Marel hf. Proposes Dividend for the Year 2021Marel hf. announced that In line with Marel’s targeted capital allocation and dividend policy of 20-40% payout ratio, the Board of Directors will propose a 40% payout ratio at the 2022 Annual General Meeting, to be held on 16 March 2022 (2021: 40%, 2020: 40%). Based on a EUR 5.12 cents dividend per outstanding share paid for the operational year 2021, or 6% lower per share than in 2020, the estimated total dividend payment will be around EUR 38.7m.
分析記事 • Jan 22Marel hf (ICE:MAREL) Hasn't Managed To Accelerate Its ReturnsIf you're looking for a multi-bagger, there's a few things to keep an eye out for. One common approach is to try and...
分析記事 • Jan 05Estimating The Fair Value Of Marel hf. (ICE:MAREL)Today we will run through one way of estimating the intrinsic value of Marel hf. ( ICE:MAREL ) by taking the forecast...
分析記事 • Nov 20We Think Marel hf (ICE:MAREL) Can Stay On Top Of Its DebtThe external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...
Reported Earnings • Oct 22Third quarter 2021 earnings released: EPS €0.031 (vs €0.039 in 3Q 2020)The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: €331.9m (up 16% from 3Q 2020). Net income: €23.4m (down 20% from 3Q 2020). Profit margin: 7.1% (down from 10% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 28% per year, which means it is well ahead of earnings.
分析記事 • Oct 20Investors Met With Slowing Returns on Capital At Marel hf (ICE:MAREL)To find a multi-bagger stock, what are the underlying trends we should look for in a business? Firstly, we'd want to...
分析記事 • Oct 02Does This Valuation Of Marel hf. (ICE:MAREL) Imply Investors Are Overpaying?In this article we are going to estimate the intrinsic value of Marel hf. ( ICE:MAREL ) by taking the expected future...
分析記事 • Aug 10Marel hf (ICE:MAREL) Has A Rock Solid Balance SheetThe external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...
Reported Earnings • Jul 23Second quarter 2021 earnings released: EPS €0.031 (vs €0.041 in 2Q 2020)The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: €327.5m (up 7.1% from 2Q 2020). Net income: €23.6m (down 23% from 2Q 2020). Profit margin: 7.2% (down from 10.0% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 35% per year, which means it is well ahead of earnings.
お知らせ • Jul 07Marel hf. (ICSE:MAREL) agreed to acquire 90% stake in Valka ehf.Marel hf. (ICSE:MAREL) agreed to acquire 90% stake in Valka ehf. on July 5, 2021. The purchase price is paid 50% in cash and 50% in Marel shares, except for smaller shareholders who will have the option of a full cash payment. Sellers that receive Marel shares will undertake a lock-up period of 18 months. Marel will offer all remaining shareholders to acquire their shares on the same terms with the objective to acquire 100% of the shares. The acquisition is financed through Marel's strong balance sheet, existing credit facilities, and available treasury shares. Valka ehf reported revenues of €17 million in 2020. Helgi Hjálmarsson, Valka's Founder and Chief Executive Officer will take on a role as Director of Solution Integrity within Marel. The closing of the acquisition is subject to customary closing conditions, including anti-trust approval from the Icelandic Anti-trust Authority, and is expected to take place later this year.