Marel hf. - Company Announcement

Marel -Highlights of Marel’s AGM 2015

Marel's Annual General Meeting (AGM) was held at the company's headquarters in
Gardabaer, Iceland, on 4 March 2015. All proposals presented by the Board were
unanimously approved by the meeting. 


Chairman's address
Asthildur Margret Otharsdottir, Chairman of Marel´s Board of Directors
discussed Marel´s powerful growth drivers during her presentation. Population
growth, urbanization, sustainability and environment are all trends that will
drive global economic development in the future and benefit Marel´s business
directly. She then summarized Marel's performance and main achievements during
2014 and provided some insights into Marel´s corporate structure. The chairman
talked about the proposal to pay out dividend, corresponding to 30% of net
profits for the operational year 2014. “The Board of Directors is pleased to
propose to the Annual General Meeting today that a dividend of € 3.5 million is
paid to shareholders. This is fully in line with our dividend policy and
reflects our strong belief in the refocusing steps, which have been taken and
our value creating potential in the future.” During her address she also looked
ahead and said that Marel has a strong foundation for future growth and value
creation. “Marel's leading market position is based on our continuous focus on
innovation, even during challenging times. This has resulted in a steady flow
of innovative products, which has transformed the way food is processed around
the world. The key to success is through partnership with our customers,” she
said. 


CEO's address
“2014 was a year of progress and transformation for Marel. The year started off
slowly, but in the spring we changed the game and we have managed to be at the
customer, for the customer while refocusing our operations. With good tailwind
in the market and a focused market approach, Marel delivered record order
intake and sales in the second half of the year; the operational results also
improved over the course of the year,” said Arni Oddur Thordarson CEO of Marel
in his address to the company's AGM. Arni then talked about the progress that
has been achieved on the refocusing program “Simpler, Smarter Faster” that has
been launched with the aim to simplify Marel´s organizational structure and
increase service to customers. 

“We have managed to be at the customer for the customer while refocusing our
business. In addition to streamlining, we are also investing in future growth
through innovation and we are advancing our business with investments in
business tools and IT systems. We enter 2015 with optimism, with much stronger
order book than one year ago and tailwind in our market.” 

Confirmation of annual accounts
The Company's Consolidated Financial Statements and the Report of the Board of
Directors and CEO were approved unanimously by the meeting. All proposals
presented were unanimously approved by the meeting. 


All seven directors on the Board of Marel were re-elected unanimously. The
board consists of: Astvaldur Johannsson, Olafur Gudmundsson, Arnar Thor Masson,
Ann Elizabeth Savage, Asthildur Margret Otharsdottir, Helgi Magnusson and
Margret Jonsdottir 


The new Board of Directors has convened and assigned roles and
responsibilities. Asthildur Margret Otharsdottir continues as Chairman of the
Board and Arnar Thor Masson, as the Vice-Chairman of the Board. 



More information about the Annual General meeting is available on Marel.com and
on information page for the AGM at http://www.marel.com/agm. Videos from the
meeting will be made available soon.

Attachments:

CEO s address_PDF.pdf