Home Investors Understanding Marel Our business model Marel is a pure-play supplier of advanced and high-end processing equipment, full-line solutions, software and services to the poultry, meat and fish industries. Taking an innovative, high-tech approach has placed Marel at the forefront of the food processing equipment industry. As a leader in the field, we provide advanced equipment, systems, software and services for the fish, meat and poultry industries around the world. Marel's strong track record of growth is evident in our journey from 45 employees at listing in 1992, to around 6,800 employees working in more than 30 countries in 2020. Our customer base is diverse, ranging from large international processors to local suppliers, with active customers in more than 140 countries. In partnership with our customers, we are transforming the way food is processed. Marel's vision is of a world where quality food is produced sustainably and affordably. Our place in the value chain Intelligent full-line integration Marel's product line includes standalone equipment, integrated systems and full production lines, all controllable with our software solution Innova. Service support comes from our local presence on every continent. Solutions at work Marel is focused on putting its advanced, automated systems and solutions to work. That applies to every step of food processing, or from the farm gate to dispatch into various customer channels worldwide. Full-line efficiency Marel’s integrated line approach is made up of standard and modular building blocks that increase operational efficiency and minimize the risk of errors. Three key industry segments Poultry Marel offers the most comprehensive product range of poultry processing solutions, software and services in the industry and has the largest installed base worldwide. We provide in-line solutions for all poultry processing steps and capacities for broilers, turkeys and ducks. Meat Marel supplies advanced equipment and systems to the red meat industry, with a focus on slaughtering, deboning and trimming for case-ready and food-service solutions. Following the acquisitions of MPS, Sulmaq, MAJA and TREIF, Marel is now a full-line supplier from farm gate to finished pack Fish Marel is the leading global supplier of advanced stand-alone equipment and integrated systems to the fish industry. We provide innovative equipment, systems and software for processing whitefish and salmon, both farmed and wild, onboard and ashore. With the acquisition of Curio in 2019, Marel is one step closer to becoming a full-line supplier to the fish industry. Balanced revenue mix Our business model is based on maintaining a balance between industry segments, business mix and geographical operations. This is reflected in our revenues from the sale of standard equipment, full-line solutions, software and ongoing spares and services partnerships. In 2019, 37% of Marel's total revenues were attributable to recurring aftermarket services such as spare part sales, service support and software licenses. This clearly reflects our important role as a reliable maintenance partner to our customers worldwide, who operate 24/7 and for whom dependability is paramount. The global Covid-19 pandemic has demonstrated the importance our global reach. Marel has readily available local teams in every region around the world, supported and guided by a global organization. Key differentiating factors Leading pure-play supplier We sell advanced and high-end equipment, solutions and software to the poultry, meat and fish industries. We work in partnership with producers looking to optimize their production processes. Marel has a differentiated strategy of becoming a full-line supplier with standard building blocks across all industries Technology and innovation leadership Marel is a company defined by our dedication to innovation. We invest around 6% of revenues in process and product innovation. In 2019 that translated to EUR 82 million. Maintaining investment above industry standard has enabled Marel to introduce more than 50 new products to the market in the past 4 years. At the same time, we continue to remain on the leading edge of product development, providing full-line solutions for our customers. Blue-chip customer base worldwide Marel's customer base includes the world’s blue-chip food processors in the poultry, meat and fish industries. With active customer accounts in more than 140 countries, our long-standing partnerships span industries and geographies. This diversity in our global customer portfolio ensures no single account represents more than 5% of revenue. Unique Innova software platform Our advanced, overarching food production software, Innova, gives our customers full control over their production and enables traceability from source to shelf. Designed to optimize production using our high-tech equipment lines, Innova software can integrate and increase the efficiency of third-party equipment as well. Global scale and scope We have a dedicated team of around 6,800 employees in over 30 countries around the world. Through the years, we have built up a unique sales and service network of over 650 employees in global sales and more than 1,350 in global services supporting clients around the world. We also complement our local presence with a network of over 100 agents and distributors. Proven growth strategy Our strong cash flow enables strategic investments that create attractive shareholder return. Marel’s management expects basic EPS to grow faster than revenues in the period 2017-2026. As well as organic growth, acquisitions such as TREIF, Maja, Stork and MPS have previously accelerated our full-line offering, market penetration and revenue growth. We expect future growth, targeted at 12% average revenue growth in 2017-2026, to be driven by R&D investments, organic growth and strategic investments. You may also be interested in Our strategy Our growth plan involves capitalizing on strong innovation investment to drive expansion and market penetration. We will also focus... Read more Capital Markets Day On 2 May 2019 Marel welcomed over 100 investors, analysts and market participants to its 2019 Capital Markets Day held at its innovation... 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