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    MAREL   IS0000000388

MAREL HF.

(MAREL)
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Delayed Nasdaq Iceland  -  09:12 2022-08-18 am EDT
578.00 ISK   +1.05%
08/15MAREL : Transactions in relation to a share buyback program
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08/08MAREL : Transactions in relation to a share buyback program
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08/08MAREL : Transactions in relation to a share buyback program
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Marel: Transactions in relation to share buyback programs. Buyback on Nasdaq Iceland discontinued

07/04/2022 | 08:55am EDT

During the days 25 June – 1 July 2022 Marel hf. purchased 722,294 of its own shares on Nasdaq Iceland at the purchase price of ISK 447,775,256 and 62,545 of its own shares on Euronext Amsterdam at the purchase price of EUR 275,332. See further details in attachment and on Marel’s website: marel.com/buyback

The trade is in accordance with Marel’s buyback programs on Nasdaq Iceland and Euronext Amsterdam, announced on 1 June 2022, which are based on the authorization of Marel hf.´s Annual General Meeting regarding the purchase of own shares on 16 March 2022.

Marel hf. held 17,188,206 own shares prior to the notified transactions or the equivalent to 2.23% of issued shares in the company and held 17,973,045 own shares after the transactions, or the equivalent of 2.33% of issued shares in the company.

Marel hf. has purchased a total of 4,000,000 own shares under the buyback program on Nasdaq Iceland, for a total purchase price of ISK 2,393,302,556 and a total of 268,595 own shares under the buyback program on Euronext Amsterdam for a total purchase price of EUR 1,168,656.

Buybacks under both programs will amount to a total maximum of 5,000,000 shares, thereof 4,000,000 on Nasdaq Iceland and 1,000,000 on Euronext Amsterdam, or the equivalent of total 0.65% of issued shares. The maximum total purchase price of the program on Nasdaq Iceland is up to ISK 3,047,668,000 and the maximum total purchase price of the program on Euronext Amsterdam is up to EUR 5,590,000. The buyback program on Nasdaq Iceland was in effect from 1 June 2022 and was discontinued after 1 July 2022, when the maximum number of shares to be purchased was reached. The buyback program on Euronext Amsterdam is in effect from 2 June 2022 until and including 2 September 2022.

The buyback programs are executed in accordance with Chapter VIII. of the Icelandic Act No. 2/1995 on Public Limited Companies, Regulation No. 596/2014 of the European Parliament and of the Council on market abuse ("MAR"), and the Commission’s delegated regulation 2016/1052 cf. also Icelandic Act No. 6/2021 on measures against Market Abuse. 

Investor relations

For further information, please contact Marel Investor Relations via email ir@marel.com or tel. +354 563 8001.

About Marel

Marel (NASDAQ: MAREL; AEX: MAREL) is a leading global provider of advanced food processing equipment, systems, software, and services to the poultry, meat and fish industries. In line with its 2017- 2026 growth strategy, Marel has gradually expanded its business model into adjacent industries, where most recently the acquisition of Wenger has added a fourth pillar focused on pet food, plant-based protein and aqua feed. Our united team of over 7,500 employees in over 6 continents delivered EUR 1.4 billion in revenues in 2021. Annually, Marel invests around 6% of revenues in innovation. By continuously transforming food processing, we enable our customers to increase yield and throughput, ensure food safety and improve sustainability in food production. Marel was listed on NASDAQ Iceland in 1992 and dual-listed on Euronext Amsterdam in June 2019. For further information, please visit marel.com/ir.

Attachment


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Financials
Sales 2022 1 641 M 1 668 M 1 668 M
Net income 2022 68,8 M 70,0 M 70,0 M
Net Debt 2022 712 M 724 M 724 M
P/E ratio 2022 40,8x
Yield 2022 0,74%
Capitalization 3 070 M 3 122 M 3 122 M
EV / Sales 2022 2,31x
EV / Sales 2023 1,96x
Nbr of Employees 7 000
Free-Float 83,0%
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Mean consensus HOLD
Number of Analysts 1
Last Close Price 4,08 €
Average target price 4,66 €
Spread / Average Target 14,3%
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Managers and Directors
┴rni Oddur ١r­arson Chairman
Stacey Katz Chief Financial Officer
Arnar ١r Mßsson Chairman
Linda Jonsdottir Chief Operating Officer
Ann Elizabeth Savage Independent Director
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