View ValuationThis company listing is no longer activeThis company may still be operating, however this listing is no longer active.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 향후 성장Future 기준 점검 3/6Marel hf (는) 각각 연간 39.7% 및 5% 수익과 수익이 증가할 것으로 예상됩니다. EPS는 연간 91% 만큼 성장할 것으로 예상됩니다. 자기자본이익률은 3년 후 11.2% 로 예상됩니다.핵심 정보39.7%이익 성장률90.97%EPS 성장률Machinery 이익 성장15.0%매출 성장률5.0%향후 자기자본이익률11.17%애널리스트 커버리지Low마지막 업데이트23 Dec 2024최근 향후 성장 업데이트공고 • 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.Price Target Changed • Oct 25Price target decreased by 11% to €3.25Down from €3.64, the current price target is provided by 1 analyst. New target price is 40% above last closing price of €2.32. Stock is down 30% over the past year. The company is forecast to post earnings per share of €0.05 for next year compared to €0.078 last year.Price Target Changed • Sep 27Price target decreased by 8.1% to €3.67Down from €3.99, the current price target is provided by 1 analyst. New target price is 32% above last closing price of €2.79. Stock is down 12% over the past year. The company is forecast to post earnings per share of €0.07 for next year compared to €0.078 last year.Price Target Changed • Feb 15Price target increased by 7.6% to €4.85Up from €4.51, the current price target is provided by 1 analyst. New target price is 26% above last closing price of €3.85. Stock is down 30% over the past year. The company is forecast to post earnings per share of €0.16 for next year compared to €0.078 last year.Price Target Changed • Aug 02Price target decreased to €5.70Down from €6.51, the current price target is an average from 4 analysts. New target price is 33% above last closing price of €4.27. Stock is down 34% over the past year. The company is forecast to post earnings per share of €0.15 for next year compared to €0.13 last year.Price Target Changed • Jul 23Price target increased to €7.10Up from €6.46, the current price target is an average from 5 analysts. New target price is 16% above last closing price of €6.10. Stock is up 34% over the past year.모든 업데이트 보기Recent updates공고 • 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 11% per year, which means it has not declined as severely as earnings.공고 • 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.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.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 17% per year, which means it has not declined as severely as earnings.공고 • 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.공고 • 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.공고 • 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.공고 • 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, 2024공고 • 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.공고 • 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.공고 • 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.Valuation Update With 7 Day Price Move • Nov 24Investor sentiment improves as stock rises 17%After last week's 17% share price gain to €2.75, 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 37% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €3.87 per share.공고 • 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.New Risk • Oct 30New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Dutch stocks, typically moving 5.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.0x net interest cover). Minor Risks Share price has been volatile over the past 3 months (5.1% average weekly change). Profit margins are more than 30% lower than last year (2.3% net profit margin).공고 • 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.Price Target Changed • Oct 25Price target decreased by 11% to €3.25Down from €3.64, the current price target is provided by 1 analyst. New target price is 40% above last closing price of €2.32. Stock is down 30% over the past year. The company is forecast to post earnings per share of €0.05 for next year compared to €0.078 last year.Price Target Changed • Sep 27Price target decreased by 8.1% to €3.67Down from €3.99, the current price target is provided by 1 analyst. New target price is 32% above last closing price of €2.79. Stock is down 12% over the past year. The company is forecast to post earnings per share of €0.07 for next year compared to €0.078 last year.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.Buying Opportunity • Aug 23Now 21% undervaluedOver the last 90 days, the stock is up 10%. The fair value is estimated to be €4.16, 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 4.6% per annum. Earnings is also forecast to grow by 34% per annum over the same time period.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 12% per year, which means it has not declined as severely as earnings.Valuation Update With 7 Day Price Move • May 10Investor sentiment deteriorates as stock falls 24%After last week's 24% share price decline to €3.04, 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 25% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €3.94 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 4% 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 Dutch dividend payers (6.3%). Lower than average of industry peers (2.8%).Price Target Changed • Feb 15Price target increased by 7.6% to €4.85Up from €4.51, the current price target is provided by 1 analyst. New target price is 26% above last closing price of €3.85. Stock is down 30% over the past year. The company is forecast to post earnings per share of €0.16 for next year compared to €0.078 last year.Reported Earnings • Feb 13Full year 2022 earnings released: EPS: €0.078 (vs €0.13 in FY 2021)Full 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 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 only fallen by 3% per year, which means it has not declined as severely as earnings.공고 • 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%.공고 • Dec 15+ 4 more updatesMarel hf., Annual General Meeting, Mar 20, 2024Marel hf., Annual General Meeting, Mar 20, 2024.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 6% per year, which means it has not declined as severely as earnings.Valuation Update With 7 Day Price Move • Oct 31Investor sentiment improved over the past weekAfter last week's 17% share price gain to €3.63, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 13x in the Machinery industry in Europe. Total loss to shareholders of 11% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €5.55 per share.Valuation Update With 7 Day Price Move • Sep 22Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to €3.40, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 12x in the Machinery industry in Europe. Total loss to shareholders of 16% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €5.59 per share.Price Target Changed • Aug 02Price target decreased to €5.70Down from €6.51, the current price target is an average from 4 analysts. New target price is 33% above last closing price of €4.27. Stock is down 34% over the past year. The company is forecast to post earnings per share of €0.15 for next year compared to €0.13 last year.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 the Netherlands. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings.Buying Opportunity • Jul 13Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 9.3%. The fair value is estimated to be €6.15, 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.Valuation Update With 7 Day Price Move • Jul 12Investor sentiment improved over the past weekAfter last week's 15% share price gain to €4.92, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 13x in the Machinery industry in Europe. Total returns to shareholders of 29% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €6.37 per share.Buying Opportunity • Jun 29Now 23% undervalued after recent price dropOver the last 90 days, the stock is down 19%. The fair value is estimated to be €5.56, 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 27% in 2 years. Earnings is forecast to grow by 81% in the next 2 years.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 4.9%. Over the next year, revenue is forecast to grow 9.8%, compared to a 16% growth forecast for the industry in the Netherlands.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 Dutch dividend payers (5.4%). Lower than average of industry peers (2.3%).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 4.9%. Over the next year, revenue is forecast to grow 12%, compared to a 16% growth forecast for the industry in the Netherlands.Buying Opportunity • Feb 04Now 22% undervalued after recent price dropOver the last 90 days, the stock is down 5.2%. The fair value is estimated to be €7.02, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 15% per annum over the last 3 years.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.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.Price Target Changed • Jul 23Price target increased to €7.10Up from €6.46, the current price target is an average from 5 analysts. New target price is 16% above last closing price of €6.10. Stock is up 34% over the past year.Reported Earnings • May 01First quarter 2021 earnings released: EPS €0.028 (vs €0.018 in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: €334.0m (up 11% from 1Q 2020). Net income: €21.2m (up 58% from 1Q 2020). Profit margin: 6.3% (up from 4.4% in 1Q 2020). The increase in margin was driven by higher revenue.Reported Earnings • Mar 20Full year 2020 earnings released: EPS €0.14 (vs €0.15 in FY 2019)The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: €1.24b (down 3.6% from FY 2019). Net income: €102.5m (down 6.8% from FY 2019). Profit margin: 8.3% (down from 8.6% in FY 2019). The decrease in margin was driven by lower revenue.Executive Departure • Mar 19Independent Chairman of the Board Ásthildur Otharsdóttir has left the companyOn the 17th of March, Ásthildur Otharsdóttir's tenure in the role of Independent Chairman of the Board ended. We don't have any record of a personal shareholding under Ásthildur's name. Ásthildur is the only executive to leave the company over the last 12 months.Upcoming Dividend • Mar 12Upcoming Dividend of €0.054 Per ShareWill be paid on the 7th of April to those who are registered shareholders by the 19th of March. The trailing yield of 0.9% is below the top quartile of Dutch dividend payers (4.3%), and is lower than industry peers (1.9%).Is New 90 Day High Low • Feb 18New 90-day high: €5.98The company is up 31% from its price of €4.55 on 18 November 2020. The Dutch market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €4.34 per share.Price Target Changed • Feb 10Price target raised to €5.99Up from €5.48, the current price target is an average from 5 analysts. The new target price is close to the current share price of €5.96. As of last close, the stock is up 39% over the past year.Price Target Changed • Feb 06Price target raised to €6.02Up from €5.48, the current price target is an average from 5 analysts. The new target price is 5.6% above the current share price of €5.70. As of last close, the stock is up 33% over the past year.Is New 90 Day High Low • Jan 19New 90-day high: €5.42The company is up 19% from its price of €4.56 on 21 October 2020. The Dutch market is also up 19% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Machinery industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €3.42 per share.Is New 90 Day High Low • Dec 29New 90-day high: €5.12The company is up 23% from its price of €4.15 on 30 September 2020. The Dutch market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €3.66 per share.Is New 90 Day High Low • Dec 04New 90-day high: €4.72The company is up 7.0% from its price of €4.40 on 04 September 2020. The Dutch market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €3.02 per share.Is New 90 Day High Low • Nov 17New 90-day high: €4.70The company is up 8.0% from its price of €4.35 on 19 August 2020. The Dutch market is up 9.0% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Machinery industry, which is also up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €3.05 per share.Reported Earnings • Oct 21Third quarter earnings releasedOver the last 12 months the company has reported total profits of €83.6m, down 39% from the prior year. Total revenue was €1.21b over the last 12 months, down 6.2% from the prior year.Analyst Estimate Surprise Post Earnings • Oct 21Third-quarter earnings released: Revenue misses expectationsThird-quarter revenue missed analyst estimates by 3.6% at €287.2m. Revenue is forecast to grow 11% over the next year, while the growth in Machinery industry in the Netherlands is expected to stay flat.Is New 90 Day High Low • Sep 23New 90-day low: €4.20The company is down 9.0% from its price of €4.60 on 25 June 2020. The Dutch market is down 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €2.98 per share.이익 및 매출 성장 예측ENXTAM:MAREL - 애널리스트 향후 추정치 및 과거 재무 데이터 (EUR Millions)날짜매출이익자유현금흐름영업현금흐름평균 애널리스트 수12/31/20261,877134184261412/31/20251,78097146218512/31/20241,7034715220559/30/20241,6631152102N/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/A더 보기애널리스트 향후 성장 전망수입 대 저축률: MAREL 의 연간 예상 수익 증가율(39.7%)이 saving rate(1.2%)보다 높습니다.수익 vs 시장: MAREL 의 연간 수익(39.7%)이 Dutch 시장(16.8%)보다 빠르게 성장할 것으로 예상됩니다.고성장 수익: MAREL 의 수입은 향후 3년 동안 상당히 증가할 것으로 예상됩니다.수익 대 시장: MAREL 의 수익(연간 5%)이 Dutch 시장(연간 10.8%)보다 느리게 성장할 것으로 예상됩니다.고성장 매출: MAREL 의 수익(연간 5%)은 연간 20%보다 느리게 증가할 것으로 예상됩니다.주당순이익 성장 예측향후 자기자본이익률미래 ROE: MAREL의 자본 수익률은 3년 후 11.2%로 낮을 것으로 예상됩니다.성장 기업 찾아보기7D1Y7D1Y7D1YCapital-goods 산업의 고성장 기업.View Past Performance기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2024/12/23 09:20종가2024/12/20 00:00수익2024/09/30연간 수익2023/12/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델의 세부 정보는 당사의 GitHub 페이지에서 확인하실 수 있습니다. 또한 보고서 사용 방법에 대한 가이드와 YouTube 튜토리얼도 제공하고 있습니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스Marel hf.는 1명의 분석가가 다루고 있습니다. 이 중 5명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Tijs HollestelleING Groep NV
공고 • 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.
Price Target Changed • Oct 25Price target decreased by 11% to €3.25Down from €3.64, the current price target is provided by 1 analyst. New target price is 40% above last closing price of €2.32. Stock is down 30% over the past year. The company is forecast to post earnings per share of €0.05 for next year compared to €0.078 last year.
Price Target Changed • Sep 27Price target decreased by 8.1% to €3.67Down from €3.99, the current price target is provided by 1 analyst. New target price is 32% above last closing price of €2.79. Stock is down 12% over the past year. The company is forecast to post earnings per share of €0.07 for next year compared to €0.078 last year.
Price Target Changed • Feb 15Price target increased by 7.6% to €4.85Up from €4.51, the current price target is provided by 1 analyst. New target price is 26% above last closing price of €3.85. Stock is down 30% over the past year. The company is forecast to post earnings per share of €0.16 for next year compared to €0.078 last year.
Price Target Changed • Aug 02Price target decreased to €5.70Down from €6.51, the current price target is an average from 4 analysts. New target price is 33% above last closing price of €4.27. Stock is down 34% over the past year. The company is forecast to post earnings per share of €0.15 for next year compared to €0.13 last year.
Price Target Changed • Jul 23Price target increased to €7.10Up from €6.46, the current price target is an average from 5 analysts. New target price is 16% above last closing price of €6.10. Stock is up 34% over the past year.
공고 • 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 11% per year, which means it has not declined as severely as earnings.
공고 • 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.
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.
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 17% per year, which means it has not declined as severely as earnings.
공고 • 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.
공고 • 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.
공고 • 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.
공고 • 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
공고 • 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.
공고 • 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.
공고 • 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.
Valuation Update With 7 Day Price Move • Nov 24Investor sentiment improves as stock rises 17%After last week's 17% share price gain to €2.75, 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 37% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €3.87 per share.
공고 • 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.
New Risk • Oct 30New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Dutch stocks, typically moving 5.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.0x net interest cover). Minor Risks Share price has been volatile over the past 3 months (5.1% average weekly change). Profit margins are more than 30% lower than last year (2.3% net profit margin).
공고 • 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.
Price Target Changed • Oct 25Price target decreased by 11% to €3.25Down from €3.64, the current price target is provided by 1 analyst. New target price is 40% above last closing price of €2.32. Stock is down 30% over the past year. The company is forecast to post earnings per share of €0.05 for next year compared to €0.078 last year.
Price Target Changed • Sep 27Price target decreased by 8.1% to €3.67Down from €3.99, the current price target is provided by 1 analyst. New target price is 32% above last closing price of €2.79. Stock is down 12% over the past year. The company is forecast to post earnings per share of €0.07 for next year compared to €0.078 last year.
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.
Buying Opportunity • Aug 23Now 21% undervaluedOver the last 90 days, the stock is up 10%. The fair value is estimated to be €4.16, 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 4.6% per annum. Earnings is also forecast to grow by 34% per annum over the same time period.
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 12% per year, which means it has not declined as severely as earnings.
Valuation Update With 7 Day Price Move • May 10Investor sentiment deteriorates as stock falls 24%After last week's 24% share price decline to €3.04, 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 25% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €3.94 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 4% 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 Dutch dividend payers (6.3%). Lower than average of industry peers (2.8%).
Price Target Changed • Feb 15Price target increased by 7.6% to €4.85Up from €4.51, the current price target is provided by 1 analyst. New target price is 26% above last closing price of €3.85. Stock is down 30% over the past year. The company is forecast to post earnings per share of €0.16 for next year compared to €0.078 last year.
Reported Earnings • Feb 13Full year 2022 earnings released: EPS: €0.078 (vs €0.13 in FY 2021)Full 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 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 only fallen by 3% per year, which means it has not declined as severely as earnings.
공고 • 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%.
공고 • Dec 15+ 4 more updatesMarel hf., Annual General Meeting, Mar 20, 2024Marel hf., Annual General Meeting, Mar 20, 2024.
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 6% per year, which means it has not declined as severely as earnings.
Valuation Update With 7 Day Price Move • Oct 31Investor sentiment improved over the past weekAfter last week's 17% share price gain to €3.63, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 13x in the Machinery industry in Europe. Total loss to shareholders of 11% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €5.55 per share.
Valuation Update With 7 Day Price Move • Sep 22Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to €3.40, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 12x in the Machinery industry in Europe. Total loss to shareholders of 16% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €5.59 per share.
Price Target Changed • Aug 02Price target decreased to €5.70Down from €6.51, the current price target is an average from 4 analysts. New target price is 33% above last closing price of €4.27. Stock is down 34% over the past year. The company is forecast to post earnings per share of €0.15 for next year compared to €0.13 last year.
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 the Netherlands. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings.
Buying Opportunity • Jul 13Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 9.3%. The fair value is estimated to be €6.15, 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.
Valuation Update With 7 Day Price Move • Jul 12Investor sentiment improved over the past weekAfter last week's 15% share price gain to €4.92, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 13x in the Machinery industry in Europe. Total returns to shareholders of 29% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €6.37 per share.
Buying Opportunity • Jun 29Now 23% undervalued after recent price dropOver the last 90 days, the stock is down 19%. The fair value is estimated to be €5.56, 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 27% in 2 years. Earnings is forecast to grow by 81% in the next 2 years.
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 4.9%. Over the next year, revenue is forecast to grow 9.8%, compared to a 16% growth forecast for the industry in the Netherlands.
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 Dutch dividend payers (5.4%). Lower than average of industry peers (2.3%).
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 4.9%. Over the next year, revenue is forecast to grow 12%, compared to a 16% growth forecast for the industry in the Netherlands.
Buying Opportunity • Feb 04Now 22% undervalued after recent price dropOver the last 90 days, the stock is down 5.2%. The fair value is estimated to be €7.02, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 15% per annum over the last 3 years.
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.
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.
Price Target Changed • Jul 23Price target increased to €7.10Up from €6.46, the current price target is an average from 5 analysts. New target price is 16% above last closing price of €6.10. Stock is up 34% over the past year.
Reported Earnings • May 01First quarter 2021 earnings released: EPS €0.028 (vs €0.018 in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: €334.0m (up 11% from 1Q 2020). Net income: €21.2m (up 58% from 1Q 2020). Profit margin: 6.3% (up from 4.4% in 1Q 2020). The increase in margin was driven by higher revenue.
Reported Earnings • Mar 20Full year 2020 earnings released: EPS €0.14 (vs €0.15 in FY 2019)The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: €1.24b (down 3.6% from FY 2019). Net income: €102.5m (down 6.8% from FY 2019). Profit margin: 8.3% (down from 8.6% in FY 2019). The decrease in margin was driven by lower revenue.
Executive Departure • Mar 19Independent Chairman of the Board Ásthildur Otharsdóttir has left the companyOn the 17th of March, Ásthildur Otharsdóttir's tenure in the role of Independent Chairman of the Board ended. We don't have any record of a personal shareholding under Ásthildur's name. Ásthildur is the only executive to leave the company over the last 12 months.
Upcoming Dividend • Mar 12Upcoming Dividend of €0.054 Per ShareWill be paid on the 7th of April to those who are registered shareholders by the 19th of March. The trailing yield of 0.9% is below the top quartile of Dutch dividend payers (4.3%), and is lower than industry peers (1.9%).
Is New 90 Day High Low • Feb 18New 90-day high: €5.98The company is up 31% from its price of €4.55 on 18 November 2020. The Dutch market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €4.34 per share.
Price Target Changed • Feb 10Price target raised to €5.99Up from €5.48, the current price target is an average from 5 analysts. The new target price is close to the current share price of €5.96. As of last close, the stock is up 39% over the past year.
Price Target Changed • Feb 06Price target raised to €6.02Up from €5.48, the current price target is an average from 5 analysts. The new target price is 5.6% above the current share price of €5.70. As of last close, the stock is up 33% over the past year.
Is New 90 Day High Low • Jan 19New 90-day high: €5.42The company is up 19% from its price of €4.56 on 21 October 2020. The Dutch market is also up 19% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Machinery industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €3.42 per share.
Is New 90 Day High Low • Dec 29New 90-day high: €5.12The company is up 23% from its price of €4.15 on 30 September 2020. The Dutch market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €3.66 per share.
Is New 90 Day High Low • Dec 04New 90-day high: €4.72The company is up 7.0% from its price of €4.40 on 04 September 2020. The Dutch market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €3.02 per share.
Is New 90 Day High Low • Nov 17New 90-day high: €4.70The company is up 8.0% from its price of €4.35 on 19 August 2020. The Dutch market is up 9.0% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Machinery industry, which is also up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €3.05 per share.
Reported Earnings • Oct 21Third quarter earnings releasedOver the last 12 months the company has reported total profits of €83.6m, down 39% from the prior year. Total revenue was €1.21b over the last 12 months, down 6.2% from the prior year.
Analyst Estimate Surprise Post Earnings • Oct 21Third-quarter earnings released: Revenue misses expectationsThird-quarter revenue missed analyst estimates by 3.6% at €287.2m. Revenue is forecast to grow 11% over the next year, while the growth in Machinery industry in the Netherlands is expected to stay flat.
Is New 90 Day High Low • Sep 23New 90-day low: €4.20The company is down 9.0% from its price of €4.60 on 25 June 2020. The Dutch market is down 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €2.98 per share.