Marel: ‘delayed recovery’ in 2Q
Seafood processing equipment manufacturer Marel reported a drop in revenues in 2Q over 2012, continuing a 2013 trend the company has attributed to “challenging market conditions and delayed recovery in the largest markets.”
According to Marel’s 2Q report, revenues totaled EUR 178.4 million (USD 236.1 million), a drop of 4.3 percent compared to the same quarter in 2012. In all, Marel reported revenues for the first half of the year are EUR 336.5 million (USD 445.2 million), which is down 9.4 percent compared to 1H of 2012. Net results showed EUR 5.3 million (USD 7 million) for Q2 2013, down from EUR 7 million (USD 9.3 million) reported in 2012. For the year to date, Marel reported net results at EUR 10.9 million (USD 14.4 million), down from EUR 20.1 million (USD 26.6 million) reported in 1H 2012.
CEO Theo Hoen said he believes the market is showing signs of recovery, and that 2014 numbers will reflect a positive change.
“While remaining optimistic about the prospects, we anticipate that market recovery will take longer time despite our earlier view,” he said. “The underlying market growth is present with investment need building up. We are ready to capture increased demand when markets recover.”