Marel hf (OISE:MAREL)

kr 504 4 (0.8%) Market Cap: 379.99 Bil Enterprise Value: 501.73 Bil PE Ratio: 0 PB Ratio: 2.39 GF Score: 79/100

Q2 2020 Marel hf Earnings Call Transcript

Jul 23, 2020 / 08:30AM GMT

Release Date Price: kr723 (+2.99%)

Transcript

Tinna JÃ³nsdÃ³ttir Molphy

Marel hf. - Manager of IR

So good morning to you all, and welcome to our investor meeting, a virtual investor meeting, broadcast to you live from our headquarters here in Iceland. .

And today, we have CEO, Ãrni Oddur ThÃ³rdarson; and CFO, Linda JÃ³nsdÃ³ttir, who will go over the second quarter results and some business highlights. And then we will dive into the Q&A session, and I will hand over to the moderator. So over to you.

Ã;rni Oddur ThÃ³rdarson

Marel hf. - CEO

Yes. Thank you, Tinna. Welcome. It's -- we can say surely that the second quarter was an eventful quarter for Marel. 60% of our people at the peak, working from home, mirroring, maybe our end consumers that are shuttering at home, dining at home instead of dining out. We put safety first in all our actions, precautious measures, high delivery performance, good project execution, good mix, although lower volume affecting the gross profit.

Gross profit down 2.5% between years, but 2% down OpEx. Cash flow extraordinarily good,

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