Leading global provider of advanced equipment
and systems for the food processing industry

Key Figures

Amounts in EUR thousands.

Operating results 9M 2008 9M 2007 2007 2006 2005 2004
Sales 389,648 210,948 289,817 208,700 129,039 112,301
Gross profit 136,047 72,059 97,236 68,803 43,625 41,016
EBITDA 42,197 16,139 20,980 15,679 14,814 16,527
EBIT 27,853 8,427 10,029 7,527 9,721 12,066
Profit for the period 15,325 2,693 6,066 159 5,715 7,984

Cash flow statement 9M 2008 9M 2007 2007 2006 2005 2004
Net cash from (to) operating activities 18,016 9,558 2,778 (2,992) 2,987 13,207
Investing activities (412.585) (60,534) (70,249) (69,754) (10,180) (6,389)
Financing activities 381,067 (2,938) 34,118 132,318 7,210 (7,263)

Financial position 9M 2008 9M 2007 2007 2006 2005 2004
Total assets 946,050 427,304 427,304 364,793 114,890 95,482
Working capital 12,870 109,887 109,887 87,989 16,557 19,807
Equity 307,454 181,835 181,835 144,423 41,032 31,595

Various figures in proportion to sales 9M 2008 9M 2007 2007 2006 2005 2004
Gross profit 34.9% 34.2% 33.6% 33.0% 33.8% 36.5%
Selling and marketing expenses 13.2% 15.5% 15.5% 13.9% 12.4% 12.4%
Research and development expenses 5.1% 4.9% 5.0% 5.6% 6.1% 5.8%
Administrative expenses 9.8% 10.4% 10.0% 10.6% 8.7% 8.1%
Profit before depreciation (EBITDA) 10.8% 7.7% 7.2% 7.5% 11.5% 14.7%
Depreciation/amortization 3.7% 3.7% 3.8% 3.9% 3.9% 4.0%
Profit from operations (EBIT) 7.1% 4.0% 3.5% 3.6% 7.5% 10.7%
Profit for the period 3.9% 1.3% 2.1% 0.1% 4.4% 7.1%

Other key ratios 9M 2008 9M 2007 2007 2006 2005 2004
Current ratio 1.0 1.2 1.9 1.9 1.4 1.6
Quick ratio 0.5 0.6 1.3 1.2 0.6 0.7
Equity ratio 32.5% 38.5% 42.5% 39.6% 35.7% 33.1%
Return on owners' equity 8.4% 2.4% 3.7% 0.2% 18.1% 30.5%
Return on total assets 3.0% 1.0% 1.5% 0.1% 5.4% 9.0%
Price to earnings (P/E) last 12 months 11.2* - 73.5 - 36.7 17.7

* Earnings last 12 months for Marel Food Systems and Stork Food Systems.

For further information:

Financial Publications

Marel Food Systems is an innovative single-source supplier of advanced solutions to the food processing industry. With an extensive sales and service network, spanning more than 40 countries, we work closely with customers all over the world, bringing value to their business. Our internationally renowned brands include AEW Delford, Carnitech, Marel and Scanvaegt. In 2008, we joined forces with Stork Food Systems, a leading manufacturer of equipment and systems for the poultry, meat and liquid food processing industry.

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