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

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    ANNUAL REPORT 2015


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    CHAIRMAN'S ADDRESS A YEAR OF PROFITABLE GROWTH AND IMPORTANT STRATEGIC ACTIONS 2015 was a good yearforMarel It wasyearofprofitablegrowth Marel's balance sheet remains robust Strong operating results, ‘and Importantstrategie actions, along with supportfrom long-termfinancing partners,enabled ‘The Simples,Smarter, Fasterrefocusing program Initiated atthe favorablefinancing ofthe acqulsttianby Increesing and extending loan faciles without raisingfurtherequitycapital. Leverageat beginning of2014was successfullycompleted atthe end ofthe dosing wasatthe higherend ofthe target rangeof23 times. ‘year;the pragram’sobjectiveofbeing ableta do more with lesswas. EBITDA. In linewith our capital allocation and dividend policy,the achieved.Overthe courseofthetwoyears, Marel revised its Board of Directors has proposedtotheAnnual General Meeting organizational structureto facilitatevaluecreation across Industries ‘thata dividend payment af€11.3 milion, corresponding to 20%of andfunctionsand took Importantsteps In rattonalizing the product net profits ls pal to shareholders. During theyear,the company Portfollo and manufacturing footprint. Significantinvestments are acquired 31 milion own shares to use in relationto potential being madeIntechnologyplatforms to make Marel itforthe scquitionsand forfulflling employee stockoption agreements. future, Atthesame time, there has been continuedfocuson creatingvaluefor curcustomers.These actions, supported by ‘The developments In 2015 arefully In ine with ourstrategy. The favorable marketconditions, have resulted In strong revenue underlying growth drivers in ourindustryremain strong.There is ‘growth, Improved profitabilityand a robust platform for sustelnable ample room ferfurtherImprovements in ourintemal operations futuregrowth. and theopportunities inthefood Industryare boundless, MarelIs An importantstrategie milestone was achieved in November,with ‘well posttioned for sustainablegrowth and value creation. the agreement to acquireMPS,a global leaderin primary Processing solutionsforthe porkand beetinchustry,as well as In innovative solutions in watertreatment andfood logistics.The Prorzons ZUM orverzor acquisition isa greatft,supporting Marat’fulllingaffering in the meat processing Industryand contributing to a more balanced revenuesplitbetweenIndustry segmentsand geographies. Pro formarevenues forthecombined business are approaching €1 billion,wth healthy profitmargins, A REFINED VISION AND SOCIAL RESPONSIBILITY APPROACH In 2015, we setouttosharpen ourvision,valuesand brand identity as well asformalize curapproach to corporatesocial responsibilty. ‘The refined vislon reflectsour purpase, howwe makeourmarkon the Industryandwhat makes usdifferentas a partner and an ‘employer. It underlinesthecommitmentto ourcustomers, the environment,and society, amd ourcommitmentto contributetothe developmentofa sustainablefuture: npartnershipwith ourcustamersvearetransforming theway dla foodsprocessed. Ourvisionlsofa worldwherequayowss prodtucedsustainablyandafordabiy.


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    Wealso formalized Mares approach to corporatesodal Implles the use of resources that do not exceed the capacity ofour responsibility, setting guiding principlesforthe approach to people, planet to replace them. Today, we are using too much of scarce: the planetand profitabillty.Social responsibilitysnot an resources such as water and energy for food production and there Is afterthoughtatMare:its attheverycore ofour business.We far toa much waste In the food value chan,Itisestimated that. strongly believe In theopportunityto create economievalue in 8 almost one billion people are suffering from undemourishment, ‘waythat also creates valuefor society byaddressing lts needs and ‘while nearly anether billion are obese. The colossal social challenges. challenges of filing rising consumption demands in en ‘enviyonmentalty, economically and socialsustainable way Population growth, combined with urbanization, rising incomes represent a wealth afopportunities for Marel and Its customers. The ‘and lifestyle changes, Is expected to result In a more than 50% ultimate goallsto embrace Innovation and new technologies to Increase in food demand by 2030. Focus on the environmentand ‘enable more food supply with less use of resources. sustanablity ls constantty Increasing,Asustainable food system COMMITMENT TO GOOD CORPORATE GOVERNANCE Marel's Board of Directors is committed to good corporate ‘Ourintemal review was followed byan external audit of the ‘governance andethical business practices that promote the long- ‘corporate govemance structure and procedures, followed by a term Interests of shareholders and help bulld trust In the company. ‘certification ofthe same. In January 2016, we proudly recelved ‘Our code of conduct puts Integrity andvalues at the core of all our recognition as “Exemplary In Corporate Gavemnance," awarded by activities and decisions the Center for Corporate Governance at the University ef iceland ‘We emphasize communication of honest, consistent and transparent Information to ourshareholders, financial partners and other stakeholders with the alm ofestablishing trust and understanding. In 2015,the Board ofDirectors conducted a comprehensive review ofMarel'scorporate governanceframework It Is Imperative to revisitthe discussion on governance, roles and responslbllties on a regular bass.Our review resulted In updatedverdons ofourules of EXEMPLARY IN procedures and Identification ofareasforfurtherdevelopment. CORPORATE GOVERNANCE SUSTAINABLE VALUE CREATION Marel' Board ofDirectors Is dedicated ta Its dutyofproviding ‘The Board's annual self-assessment and dlractors-onlysessfon ls an strategie direction,challanging and supporting managementas Importantforumfaraligning ovefocus araas and Kdenttying areas well as performing our iduclarysupervsory duties.Sustalnable ofimprovement.The resultssetthe stageforthe Boardsagendafar shareholdervaluecreation In Marel ls our ultimate objective. the upcoming yearand are reflected inthetargets ofmanagement Incentive programs. In 2015,thefocuswas on growth and strengthening the foundation by executingthe Simpler, Smarter& Faster program, casing the MPS acquisition and preparing for tn +2.5 BILLION transitton Into 2 longerterm,full potential approach.The ambitious strategictargets setat the2006 annual general meeting are belng iÍI{ INCREASEIN URBAN POPULATION realtzed.Qurvisonforthefuture ts clearIn 2016,wewl provide BY THE YEAR 2050 furtherInsightsIntofuturetargetsand thestrategic objectives ahead.


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    OPPORTUNITIES AHEAD On behalf of the Board of Directors I congratulate the Marelteam on Marel has a strong foundation for continuous growth and the results and achievements made In 2015 and extend our sustalnabievaluecreation.Theopportunitiesare boundless—there appredatlonfor thelrcommitment,dedleationand hard work,We areexciting Umesahead, thankourshareholders forthelrtrust In Marel andforgiving us the ‘opportunitytotake part inthisgreatJoumey. (Asttitauı (taa l Asthlldur Otharsdotatr, (Chairman of Marel's Board of Directors


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    Arni Oddur Thordarson, CEO


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    READY FOR THE FUTURE We live ina fast changing,dynamic world. Theglobal population is The quality ofour eamings ls good.We are growing with ou ‘expected ta reach between Sand 14 billion people the next two poultry, meat and fish processors in all continents. The mixo ‘orthree decades, Moreover, due to urbantzation and better greenfield projects, extenslon and modemization projects is ‘economic prospects In general, the proportion ofpeople ‘The backbone ls ourstrong malntenance business that acco. ‘conskdered “active” consumers Is Increasing ata faster rate than, 40% of our revenues, As.a united team, ln good parmership ‘ever before, The need foraffordable and safe feed that Is processed ‘our customers, we are In position to reshape the food proce Ina sustainable way ls clearerthan ever, world, Marel Is the leading global provider of advanced processing GREAT TEAM Systems and services to the poultry, fish and meat industries. We | wouldlike to thankthe Marel team forthelr commitment, striveforexcellence In serving customers’ needs and wearefirmly dedication and effort during 2015, lookforward to the years ‘committed tothealm ofdellvering increased valuetoall ‘ahead, | would like ta welcome the employees of MPS on board as stakeholders; customers, employees and shareholders.With ‘an integral part ofthe Marel team. We are all moving in the same strategic acqulsttions, continuousInnovation and market direction - In partnership with our customers we are transforming penetration we have managed to be at theforefront ofourIndustry. the way food Is processed. Curvison Is ofa world where quality food ts produced sustalnably and affordably. United as Marel, we can make It happen!


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    UNITY weare united in our SUCCESS WHO WEARE Marallstheleading global praviderofadvanced processing systems.and services tothe “Y LARGEST PROVIDER Foultry, Meetand Fish Industries. TO THE GLOBAL ADVANCING POULTRY, MEAT AND ASH FOOD PROCESSING PROCESSING INDUSTRIES: MAREL'S VISION MAREL'S VALUES In partnership with our customers we are transformingtheway 3 Unity - We are united In our success food Is processed. Our vision Is of a world where quality foods Innovation — Innovation drives thevalue we create Produced sustainably andaffordably. Excellence — Excellence ls what differentivtes us GLOBAL PRESENCE sr With around 4,600 employeesworldwide, offices and subsidiaries In Al some 30countries, and a networkofmorethan 100agents and dlstrbutors, Mares na unique postionto serve tts customers 4,600" 100 wherever they may be located. EMPLOYEES: cons PARTNERS “mangsemoes ONE COMPANY SERVING THREE INDUSTRIES Maref' Industries combine the knowledge, expertise,and decades ofexperienceaccumulated acrossthe company In each ofthe core Industries serves. MAREL POULTRY MAREL MEAT MAREL FISH Marel offersthe most complete product Marel provides cvancedequipmentand Marel providesadvanced equtpmentand range andthelargest installed base aystemstothe met Industry,spedalizing systemsfor salmon and whitefish worldwide. Marel pravidesindinepouly primary processing, the keyprocessesaf processing, bath farmed and wild,anboard processing solutions forall processsteps deboning and trimming, aseready,foad andashore. and all processing capacities for brollers, serviceand bacon processing. turkeysand ducks.


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    BEFORE AFTER


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    Finalulnarfor2016 AnnualmendMeet Nach2016 eld Banas andqueerzie amis srdaurerzme 260000012016 eticazoo dd BETONIT AUDRIORG OLAFSDOTTIR (expertDacorofaterBaaraneCommunications Audbjorgobfdottrgmareicom Phone(+35) 563.08


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    oumUNOFTEDOND ASTHILDUR MARGRET OTHARSDOTTIR AntuMargretGannettnegende maudaShe hanemmae (busesexpaticaeaDecorTsuandCorporeDeeperatom 20062010,SerieArumMargeatpenFameArteBanro20040 2008andCorutar tAcantreor 15662000sha amb heBoard ot ‘recto ofrardGrupadMararCharmanteBaardaFak atfairotharfasarCrioraas cote VertlenuniteCutAtranofthe caneChambergfCorman, oven MBtramSch lameTrhun14CandOno iyohn. m 20dinalebal caerb zr == OLAFUR 5.GUDMUNDSSON MARGRET JONSDOTTIR Dr. oir.GudmurdeonbcrertyDecoofPharmacare MNagretJoradostrisMaracinoDecoroOpensEt (heotSutCompa globepaacompar. IntPreddaamaDitoFrarEaPulg Metapraeidsrorlvrangerenpostions tom December200 uGebr2002Sha wasDatof tnLnparcdustbotfor DHA FrancaontoCardbomAugast2000rd Decenba ScubaGaerne Inc.alocia to ‘01MargeafeurFAarmBawr Pharmaceutical CydeparanasPurdue Un Mandanomnay1958une une2000andDecorof Pie Ica LumFund FAkennen redecenorfomSeptember 1900untana908.


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    Marel encourages all of its employees to exercise and eat healthily, because the company believes that a healthy company with healthy people is invaluable. Marel is extremely proud of its employees and has established various programs to help facilitate healthy lifestyles: Some locations contain fitness rooms with weight lifting equipment, bikes, treadmills, yoga, boot camp, and spinning classes There are various biking activities around the sites There are various running competitions The Boxmeer site in the Netherlands runs the program “Marel being healthy together” All employees can sign up for a preventive medical examination once a year Each Marel location offers healthy food in their cafeterias. Some locations have offered courses on quitting smoking Tour de Marel


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