avatar Marel Poultry B.V. Manufacturing
  • Location: NOORD-BRABANT 
  • Founded: 1948-07-27
  • Website:

Pages

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    Index 5 Performance in 2001 12 Operational Activities 21 Financial Statements 2001 22 Annual Report and Signatures of the Board of Directors and Managing Director 23 Auditor’s Signature Board of Directors 24 Key Figures 1997 – 2001 Benedikt Sveinsson, Chairman Arnar Þór Másson Hjörleifur Jakobsson Þorkell Sigurlaugsson Þórólfur Árnason Alternates: Andri Teitsson Friðrik Jóhannsson Managing Director Hörður Arnarson State Certified Public Accountant PricewaterhouseCoopers ehf Gunnar Sigurðsson Marel hf Annual Report 2001 19th Operational Year Annual General Meeting, 20 March 2002


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          7     <   9 "  & 99     + 9 5 =


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    Performance 2001 " $     '  !  " #   !     ' 5      $%!  &   ' =      &@,%@  ,    9 & ,)%A    >        ' =        +        5' 5 %@B,   5  5 ,       59  '  (((  = 79  9   ,'9             "  :              5    5       = 7            " 7C" " ! =  5 = ,       ,-   D?7          5          =      2    9      :  5  '      , 9   '     9   '=7       5    =-     + /  5'  )B '  ' 9       '   =7       '= : ?9   9       : $ ,  , 5 )B=           9 5     ' =        ,      ,       (=   &),((  ,  9&,%(  =7     5 %)B= 7   " $   ,5   7   5      , ==,     9         59    5    ' ,  9 =   ,   5' 5 &,@#  , 7      :     5 %@B=>  5       '   *#@= 5' 5 &,@   %)B= Operating profit, EBIT EBIT as percent of turnover from operation Million ISK. Million ISK. Percen 60 9,0 9.0 8,0 8.0 50 7,0 7.0 40 6,0 6.0 5,0 5.0 30 4,0 4.0 20 3,0 3.0 2,0 2.0 10 1,0 1.0 0 0 0.0 9 9 9 0 0 9 9 9 0 0 Year Year Turno EBIT as percent of  All figures based on 2001 price level All figures based on 2001 price level


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  • Page 5

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  • Page 6

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  • Page 7

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  • Page 9

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  • Page 10

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  • Page 12

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  • Page 13

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  • Page 15

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  • Page 16

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  • Page 17

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  • Page 19

        & 


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           The Financial Statements of Marel hf is in all main aspects made according to the same accounting principles as last year. It consists of Consolidated Financial Statements for Marel hf and its subsidiaries, which were eight at year-end, and the Financial Statements for the parent company. Operating revenues of the Group according to the profit and loss account were ISK 8,481 million in the year and operating revenues of the parent company were ISK 3,495 million. Net profit of the Group and the parent company in 2001 amounted to ISK 184 million. Assets of the Group amounted to ISK 6,265 million, and assets of the parent company were ISK 4,397 million according to the balance sheet of the company. Shareholders’ equity was ISK 2,153 million at year-end. During the year an average of 679 employees were employed by the Group, with 259 employed by the parent company. Total wages and salaries amounted to ISK 3,013 million for the Group, and ISK 1,060 million for the parent company. The number of shareholders in Marel hf at year’s end 2001 were 1,716, and increased by 19 during the year. One shareholder had a holding interest of more than 10% in the company, Burdar ás hf, which owned 30.8%. The Board of Directors suggests that a dividend of 15% be paid in the year 2002, but refers to the Financial Statements regarding appropriation of the year's net profit and changes in shareholders' equity. The Board of Directors and Managing Director of Marel hf hereby ratify the Financial Statements for 2001 with their signatures. Reykjavík, 11 March 2002    Benedikt Sveinsson Þorkell Sigurlaugsson Arnar Þór Másson Hjörleifur Jabobsson Þórólfur Árnason Andri Teitsson     Hörður Arnarson


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            A           *++%                 !                      1  &%            %%-             /           B         A    /           0           A             0                          ,         7     B                   ,                                 A             /  /                          1  &%*++%                /             678 97%% *++*   ! @ #


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      !""#$ Figures are shown at 2001 price levels in millions of Icelandic króna. %&&' %&&& '((( '(() '((*+ ,  Operating income .......................................... 8,481 6,103 6,391 4,347 4,843 Operating profit ............................................ 522 348 512 109 248 Net profit ........................................................ 184 (9) 370 11 164      Funds from operations .................................. 692 485 452 97 360 Investing activities ......................................... (1,101) (1,024) 94 (32) (1,636) Changes in working capital ............................ (402) 730 77 476 463       Total assets ................................................... 6,265 5,296 3,395 3,238 3,098 Working capital .............................................. 1,363 1,917 1,219 1,221 737 Equity ............................................................. 2,153 2,025 925 587 599 -       Bought material ............................................. 33.0% 33.0% 37.8% 34.3% 35.6% Wages and benefits ....................................... 39.4% 40.3% 35.2% 41.0% 38.5% Other operating expenses ............................. 19.2% 18.7% 17.0% 19.1% 18.0% Depreciation .................................................. 2.3% 2.3% 2.1% 3.1% 2.7% Net income .................................................... 2.2% -0.1% 5.8% 0.2% 3.4% ,.#  Working capital ratio ...................................... 1.6 2.0 1.8 2.0 1.6 Monetary working capital ratio ...................... 0.8 1.3 1.1 1.3 1.0 Equity ratio ..................................................... 34.4% 38.2% 27.2% 18.1% 19.3% Return on owners' equity ............................... 9.4% -1.0% 65.6% 1.8% 48.2% * Marel hf purchased the Danish company Carnitech A/S in 1997. Carnitech A/S goodwill, amounting to ISK 468 million, was booked as a reduction in shareholders’ equity.


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arel hf. Financial Statements 2001 Amounts in thousands of ISK


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arel hf. Financial Statements 2001 Amounts in thousands of ISK


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arel hf. Financial Statements 2001 Amounts in thousands of ISK


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arel hf. Financial Statements 2001 Amounts in thousands of ISK


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                                                       0             ,          7                 8   B                "(%      B                  "*%   *+++  $     "  !/         !                        /                      / ,F   G0     0 J I /   ,F    , K"J         K ,    ! < *+ L! <M"!  ,F              /    *+++                  K ,  *++%      8           CBD        !            7                 B                 ! BI /                                       -  "           "$' A                              B                              *+++ "%.                  B           4    1 .                 #        ,                 7      B       /                 B           B   B                    7     0       /                  B       7           B                  B 7              B        B          I /  *++* ( Marel hf. Financial Statements 2001


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         "   "      "1      B /                              I B                                        7        FC D   "        B    /                                                          B   7           8                                B  / "                                  I B                  4 1    6      /  B  7                  7           B      .         /      B  #-%2 7                    /0        7    , " /  B                 B  7   0        1                        B     ,    ,F     $+      /              B     &%+ Marel hf. Financial Statements 2001


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              4     ,F  K ,             K"J                                0          8                   B                      7                         "1 4  #2 3    B /  9 "  "                      B     0         B      0         B     B           G N   N     B     , ,        B           4 7  / B              B                  /           . B        7         B             7 1 B   B            B              B          B        77   B         7        1   B       1           B         7    B    /            7      B        4                     C 7  D     7           /          7      # Marel hf. Financial Statements 2001


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arel hf. Financial Statements 2001 Amounts in thousands of ISK


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    0 $   %&&' %&&& %&&' %&&& <:  "  I     %F% $%+%( &'%&( $%+%( &'%&( 6     $$(( *+%& $$(( *+%& ,   **(++ *%+++ **(++ *%+++ ,        C**$.$D C*%%&&D C**$.$D C*%%&&D $($'- $%+%( $($'- $%+%( =:/ " J    %F% *'%$- %#(#. *(('. %*&.* 6     &*($ %-'' *.'&  #'# ,   %$&&# *%%.- %$&&# *%%.- ,        C*%%.#D C%*&%-D C%.%-#D C##$'D *((-+ *'%$- *((-+ *(('. >:$   3    &(%*% %-'--%  + %-'--% 6     %(#% + + + ,     C-(-D + + + A   + C%-'--%D + C%-'--%D &-+$- + + *#*-&#  *:. 6     .(('-& (($+'( &$$-%' *.%((* A7 *+%($# '+#+'  + %+&*% 7 $'($%% &-..%# %&(**. *(%%.-  &+'+#% *&&''+ %+&-&+  --+-% %.-*++& %*$--%*  (#&$.-  (''%%+ ):  4 1      %-+&( %%-&( %-+&( %%-&(    %$%*%+* %%%*-&&  (*&(.%  (+('(&  + + -(-$(*  *((.*# %$*#%&. %%*$*-# %%'-+(#  ..&&%- ## Marel hf. Financial Statements 2001 Amounts in thousands of ISK


  • Page 32

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  • Page 33

    0 '&:9 "  "       37  %F% '+*### '''$+ ,  -$.(. + 6    %((-+- -'$$ 1    C#$&&-D + A  + C&'**+D  FC D ('..- + ,8  5  7 C%#&(*D + %+#+&&' -.--$    0      #+**( + 37  &%F%* %%-+(-$ -.--$      7 H   ,F  %++2 1"" *&++  G0    %++2 ,1 %#(    , %++2 6 -+++    ! < %++2 GK6 *(    ,F  %++2 1"" %+++  L! <M"! %++2 1G %(++  K"J  %++2 !3I %(+  K ,  %++2 K 1 -++  )     37      H G N   N  %$&2  " &*' &'- 4 7 '+&2  " %*&-# %*&-# , , (+++2 6 *&++ ($'++ -.--$ # Marel hf. Financial Statements 2001 Amounts in thousands of ISK


  • Page 34

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arel hf. Financial Statements 2001 Amounts in thousands of ISK


  • Page 35

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  • Page 36

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