Business model
Marel’s business model is based on providing full-line solutions and services to the food processing industry, one of the most important value chains in the world. With an emphasis on innovation, close partnership with customers and global reach across local markets, this model supports our vision of a world where quality food is produced sustainably and affordably.
Our revenue streams consist of projects, standard equipment and recurring sales of parts, services and software. We have a worldwide customer base, diversified across different industries, product mixes and geographical areas, allowing us to achieve and maintain strong profitability throughout economic cycles.
Full-line provider
Marel is a one-stop shop for food processors, offering a comprehensive range of food processing solutions, services and software across the value chain. Our business model as a full-line supplier enhances our ability to improve automation, digitalization, throughput, yield, traceability and sustainability for our customers.
Standard and modular building blocks
Our full-line approach is based on modular building blocks and standard equipment, enabling the most flexible and resilient set-up possible. This approach also makes equipment and software easy and fast to install, upgrade and service. For Marel, this improves operational efficiency and time to market, and for our customers, it makes the overall experience more seamless.
Market leading proprietary software
Since the very beginning of Marel, we have integrated our equipment with software to drive enhancements across all key aspects of food processing. Our proprietary software solutions are installed worldwide and offer comprehensive device control and efficient factory and process management, including full traceability from source to shelf. Interconnected systems provide a complete overview of the raw materials’ journey through processing. In addition, data-driven insights enable us to provide our customers with predictive maintenance, better instant and remote services, and many more potential applications.
Balance across segments, regions and business mix
Global reach, local presence
Our team of around 8,000 employees, located in more than 30 countries, allows us to serve companies of all sizes, ranging from the largest international food processing leaders to local niche producers in more than 140 countries. This extensive global reach and local presence are instrumental to our resilience and ability to engage with, service and support our customers effectively.
Marel’s branding strategy was rolled out in 2022 and focuses on highly important steps to transition from segment-focused branding towards a global and unified brand for Marel.
Four key business divisions
Marel is focused on four key business segments: Poultry, Meat, Fish and the recently added segment of Plant, Pet and Feed. We provide software, equipment, systems and solutions that help food processors streamline their production and gain a competitive advantage by harnessing advanced technology such as automation, digitalization and robotics.
Mixed revenue streams drive resilience and synergies
Marel’s presence across various protein industries and regions optimizes our ability to transfer technical know-how, solutions and expertise. We build upon our technological advances in one industry by implementing them in another. This balance minimizes reliance on single industries and markets, reducing cyclicality and exposure to market demand fluctuations. Similarly, our customer base is very diversified, ranging from leading international processors to smaller retailers and butchers, where no single customer contributes to more than 5% of annual revenues.
Revenues by business segment
Note: ¹12% pro forma.
Revenues by geography
Revenues by business mix
Note: Equipment revenues are comprised of revenues from greenfield and large projects, standard equipment and modernization equipment, and related installations. Aftermarket revenues are comprised of revenues from services and spare parts.
Strong partnership with customers
Marel’s customers include some of the world’s leading food processors, and our strong brand and unique product and service offering have earned customer loyalty to our solutions. Our longstanding partnerships are solid, built on teamwork and common goals across industries and borders.
Innovating with our customers
We collaborate with customers to bring new and innovative solutions to life. Our customers bring best-in-class knowledge and fresh perspectives to the table, and together we push the boundaries of new food processing equipment, digital solutions and services. From idea to prototype, we are proud to work with forward-thinking food processors who are eager to test and co-create new solutions within their own plants and at our demo centers.
Building long-term partnerships
Our approach is to build and maintain long-lasting relationships with our customers, going beyond initial engagement to become a reliable service and maintenance partner. This way, we can maximize the value we bring throughout the lifespan of our solutions and services, delivering benefits for both our customers and our company.
A life cycle partner
We support our customers with a wide range of projects and solutions, including turnkey projects (brownfield and greenfield), line solutions, digital solutions and services, modernizations, standard equipment, services and spare parts. The figure below shows an example of the types of revenues generated over a 10-year customer engagement period beginning with a greenfield project.
