Marel hf
ICEX:MAREL
Income Statement
Earnings Waterfall
Marel hf
Revenue
|
1.7B
EUR
|
Cost of Revenue
|
-1.1B
EUR
|
Gross Profit
|
596.4m
EUR
|
Operating Expenses
|
-502.8m
EUR
|
Operating Income
|
93.6m
EUR
|
Other Expenses
|
-62.6m
EUR
|
Net Income
|
31m
EUR
|
Income Statement
Marel hf
Dec-2013 | Mar-2014 | Jun-2014 | Sep-2014 | Dec-2014 | Mar-2015 | Jun-2015 | Sep-2015 | Dec-2015 | Mar-2016 | Jun-2016 | Sep-2016 | Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | ||||||||||||||||||||||||||||||||||||||||||
Revenue |
662
N/A
|
658
0%
|
650
-1%
|
681
+5%
|
713
+5%
|
767
+8%
|
816
+6%
|
817
+0%
|
819
+0%
|
830
+1%
|
876
+6%
|
922
+5%
|
970
+5%
|
1 002
+3%
|
981
-2%
|
994
+1%
|
1 038
+4%
|
1 074
+3%
|
1 127
+5%
|
1 162
+3%
|
1 198
+3%
|
1 234
+3%
|
1 264
+2%
|
1 294
+2%
|
1 284
-1%
|
1 261
-2%
|
1 240
-2%
|
1 215
-2%
|
1 238
+2%
|
1 270
+3%
|
1 292
+2%
|
1 337
+3%
|
1 361
+2%
|
1 398
+3%
|
1 468
+5%
|
1 587
+8%
|
1 709
+8%
|
1 785
+4%
|
1 810
+1%
|
1 763
-3%
|
1 721
-2%
|
|
Gross Profit | ||||||||||||||||||||||||||||||||||||||||||
Cost of Revenue |
(428)
|
(430)
|
(420)
|
(442)
|
(457)
|
(482)
|
(506)
|
(501)
|
(491)
|
(491)
|
(513)
|
(539)
|
(573)
|
(598)
|
(590)
|
(602)
|
(632)
|
(655)
|
(690)
|
(708)
|
(730)
|
(753)
|
(767)
|
(789)
|
(793)
|
(788)
|
(783)
|
(765)
|
(778)
|
(796)
|
(814)
|
(849)
|
(867)
|
(893)
|
(948)
|
(1 041)
|
(1 130)
|
(1 187)
|
(1 202)
|
(1 160)
|
(1 125)
|
|
Gross Profit |
234
N/A
|
229
-2%
|
230
+0%
|
239
+4%
|
256
+7%
|
285
+11%
|
309
+9%
|
316
+2%
|
327
+4%
|
339
+3%
|
363
+7%
|
383
+6%
|
397
+4%
|
404
+2%
|
391
-3%
|
391
N/A
|
407
+4%
|
419
+3%
|
437
+4%
|
454
+4%
|
468
+3%
|
481
+3%
|
497
+3%
|
505
+2%
|
491
-3%
|
473
-4%
|
457
-3%
|
450
-2%
|
460
+2%
|
475
+3%
|
478
+1%
|
488
+2%
|
494
+1%
|
506
+2%
|
520
+3%
|
546
+5%
|
578
+6%
|
597
+3%
|
608
+2%
|
602
-1%
|
596
-1%
|
|
Operating Income | ||||||||||||||||||||||||||||||||||||||||||
Operating Expenses |
(191)
|
(192)
|
(194)
|
(199)
|
(207)
|
(216)
|
(217)
|
(217)
|
(212)
|
(247)
|
(244)
|
(261)
|
(277)
|
(284)
|
(275)
|
(266)
|
(266)
|
(268)
|
(276)
|
(290)
|
(300)
|
(317)
|
(326)
|
(331)
|
(328)
|
(333)
|
(320)
|
(313)
|
(308)
|
(318)
|
(330)
|
(351)
|
(363)
|
(381)
|
(413)
|
(450)
|
(481)
|
(509)
|
(518)
|
(496)
|
(503)
|
|
Selling, General & Administrative |
(138)
|
(139)
|
(140)
|
(142)
|
(144)
|
(149)
|
(151)
|
(151)
|
(151)
|
(155)
|
(167)
|
(174)
|
(177)
|
(183)
|
(177)
|
(176)
|
(178)
|
(178)
|
(185)
|
(192)
|
(198)
|
(206)
|
(213)
|
(217)
|
(220)
|
(226)
|
(214)
|
(208)
|
(204)
|
(203)
|
(212)
|
(227)
|
(239)
|
(254)
|
(283)
|
(310)
|
(330)
|
(356)
|
(369)
|
(369)
|
(335)
|
|
Research & Development |
(32)
|
(32)
|
(32)
|
(34)
|
(35)
|
(35)
|
(36)
|
(36)
|
(36)
|
(41)
|
(45)
|
(49)
|
(41)
|
(41)
|
(39)
|
(36)
|
(44)
|
(47)
|
(50)
|
(56)
|
(57)
|
(63)
|
(67)
|
(69)
|
(71)
|
(69)
|
(64)
|
(61)
|
(56)
|
0
|
(44)
|
(48)
|
(67)
|
(70)
|
(73)
|
(79)
|
(84)
|
(93)
|
(103)
|
(107)
|
(95)
|
|
Depreciation & Amortization |
(21)
|
(21)
|
(22)
|
(23)
|
(28)
|
(32)
|
(32)
|
(33)
|
(28)
|
(29)
|
(36)
|
(43)
|
(59)
|
(55)
|
(55)
|
(51)
|
(45)
|
(43)
|
(41)
|
(42)
|
(44)
|
(43)
|
(42)
|
(40)
|
(37)
|
(37)
|
(42)
|
(45)
|
(50)
|
(55)
|
(55)
|
(57)
|
(57)
|
(56)
|
(57)
|
(61)
|
(67)
|
0
|
0
|
0
|
(73)
|
|
Other Operating Expenses |
0
|
0
|
0
|
0
|
0
|
0
|
2
|
2
|
3
|
(21)
|
4
|
4
|
0
|
(5)
|
(4)
|
(4)
|
0
|
0
|
0
|
0
|
0
|
(5)
|
(5)
|
(5)
|
0
|
0
|
0
|
0
|
2
|
(60)
|
(19)
|
(19)
|
0
|
0
|
0
|
0
|
0
|
(61)
|
(45)
|
(21)
|
0
|
|
Operating Income |
43
N/A
|
37
-13%
|
36
-4%
|
41
+13%
|
49
+20%
|
69
+40%
|
92
+34%
|
98
+7%
|
116
+18%
|
92
-21%
|
119
+30%
|
122
+2%
|
120
-1%
|
120
0%
|
116
-3%
|
125
+7%
|
140
+12%
|
150
+7%
|
162
+8%
|
164
+1%
|
168
+2%
|
164
-2%
|
170
+4%
|
175
+3%
|
163
-7%
|
141
-14%
|
137
-2%
|
137
-1%
|
152
+11%
|
157
+3%
|
148
-6%
|
138
-7%
|
131
-5%
|
125
-4%
|
107
-15%
|
95
-11%
|
97
+2%
|
88
-9%
|
90
+3%
|
106
+17%
|
94
-12%
|
|
Pre-Tax Income | ||||||||||||||||||||||||||||||||||||||||||
Interest Income Expense |
(17)
|
(17)
|
(14)
|
(12)
|
(10)
|
(6)
|
(7)
|
(9)
|
(9)
|
(17)
|
(19)
|
(20)
|
(18)
|
(19)
|
(20)
|
(19)
|
(15)
|
(17)
|
(13)
|
(10)
|
(9)
|
(7)
|
(7)
|
(6)
|
(6)
|
(7)
|
(10)
|
(12)
|
(14)
|
(15)
|
(13)
|
(13)
|
(8)
|
(0)
|
0
|
4
|
(11)
|
(26)
|
(35)
|
(50)
|
(51)
|
|
Non-Reccuring Items |
0
|
(4)
|
(11)
|
(12)
|
(20)
|
(24)
|
(22)
|
(23)
|
(34)
|
0
|
(23)
|
(21)
|
(8)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(7)
|
0
|
0
|
(1)
|
(1)
|
0
|
(1)
|
(1)
|
(2)
|
0
|
0
|
0
|
(1)
|
0
|
0
|
(8)
|
(7)
|
0
|
0
|
0
|
0
|
|
Total Other Income |
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(3)
|
(3)
|
(3)
|
(3)
|
(4)
|
(5)
|
(5)
|
(5)
|
(1)
|
(0)
|
(1)
|
(5)
|
(6)
|
(6)
|
(7)
|
(6)
|
(6)
|
(6)
|
(5)
|
(15)
|
(15)
|
(15)
|
(14)
|
(4)
|
(3)
|
(2)
|
(1)
|
(2)
|
(2)
|
(3)
|
(4)
|
(4)
|
(5)
|
(5)
|
(6)
|
(6)
|
|
Pre-Tax Income |
24
N/A
|
15
-39%
|
9
-40%
|
14
+59%
|
17
+22%
|
36
+112%
|
60
+69%
|
64
+7%
|
70
+9%
|
71
+2%
|
72
+2%
|
76
+5%
|
89
+18%
|
100
+11%
|
96
-4%
|
105
+9%
|
120
+14%
|
128
+7%
|
143
+12%
|
147
+3%
|
146
-1%
|
152
+4%
|
158
+4%
|
163
+3%
|
142
-13%
|
119
-16%
|
111
-6%
|
110
-1%
|
132
+20%
|
139
+6%
|
133
-5%
|
124
-7%
|
121
-3%
|
123
+2%
|
104
-15%
|
88
-16%
|
75
-15%
|
58
-23%
|
51
-12%
|
50
-1%
|
36
-28%
|
|
Net Income | ||||||||||||||||||||||||||||||||||||||||||
Tax Provision |
(3)
|
(2)
|
(0)
|
(1)
|
(5)
|
(10)
|
(15)
|
(14)
|
(13)
|
(13)
|
(12)
|
(13)
|
(14)
|
(16)
|
(16)
|
(19)
|
(23)
|
(24)
|
(28)
|
(29)
|
(24)
|
(25)
|
(27)
|
(25)
|
(32)
|
(27)
|
(24)
|
(26)
|
(29)
|
(29)
|
(30)
|
(27)
|
(25)
|
(26)
|
(21)
|
(19)
|
(16)
|
(11)
|
(11)
|
(9)
|
(5)
|
|
Income from Continuing Operations |
21
|
13
|
9
|
12
|
12
|
26
|
45
|
50
|
57
|
58
|
61
|
63
|
76
|
83
|
80
|
86
|
97
|
104
|
115
|
118
|
123
|
126
|
131
|
138
|
110
|
91
|
88
|
84
|
103
|
110
|
103
|
97
|
96
|
97
|
83
|
69
|
59
|
46
|
40
|
41
|
31
|
|
Income to Minority Interest |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
0
|
0
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
0
|
1
|
1
|
1
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Net Income (Common) |
21
N/A
|
13
-37%
|
9
-34%
|
12
+44%
|
12
-6%
|
26
+124%
|
45
+71%
|
50
+11%
|
57
+14%
|
58
+2%
|
60
+4%
|
63
+4%
|
76
+20%
|
83
+10%
|
80
-4%
|
86
+7%
|
97
+13%
|
104
+7%
|
115
+11%
|
118
+3%
|
122
+4%
|
126
+3%
|
131
+4%
|
138
+5%
|
110
-20%
|
91
-17%
|
88
-4%
|
84
-4%
|
103
+22%
|
110
+8%
|
103
-6%
|
97
-6%
|
97
0%
|
97
+1%
|
83
-14%
|
69
-17%
|
59
-15%
|
46
-21%
|
40
-14%
|
41
+3%
|
31
-24%
|
|
EPS (Diluted) |
0.04
N/A
|
0.03
-25%
|
0.02
-33%
|
0.02
N/A
|
0.02
N/A
|
0.03
+50%
|
0.06
+100%
|
0.07
+17%
|
0.08
+14%
|
0.08
N/A
|
0.08
N/A
|
0.08
N/A
|
0.11
+38%
|
0.11
N/A
|
0.11
N/A
|
0.12
+9%
|
0.14
+17%
|
0.15
+7%
|
0.16
+7%
|
0.17
+6%
|
0.18
+6%
|
0.18
N/A
|
0.19
+6%
|
0.2
+5%
|
0.15
-25%
|
0.12
-20%
|
0.11
-8%
|
0.11
N/A
|
0.14
+27%
|
0.15
+7%
|
0.14
-7%
|
0.13
-7%
|
0.13
N/A
|
0.13
N/A
|
0.11
-15%
|
0.09
-18%
|
0.08
-11%
|
0.06
-25%
|
0.05
-17%
|
0.05
N/A
|
0.04
-20%
|