Economic responsibility

Marel strives to generate value for our partners and shareholders while also having a positive impact on the societies where we operate. Our guiding principles in delivering a positive economic impact are sustainable business practices, fair trade and long-term profitability.

By maintaining an economically strong and responsible business over the long term, we contribute significantly to our customers and our people, as well as the economy and society as a whole. Our economic value includes growth at a local level, such as creating jobs and supporting local suppliers through the purchase of goods and services, as well as our payment of in taxes.

Innovation, collaboration and transparency are key. We innovate sustainable solutions and work with partners that share our vision of a world where quality food is produced sustainably and affordably. Moreover, we comply with international laws, anticorruption rules and local regulations, and expect the same of our partners, customers and suppliers.

Innovation is central to our commitment to contributing toward the UN Sustainable Development Goals (SDGs). To drive new product development and progress in food processing, we annually invest about 6% of our revenues into researching and developing advanced solutions.

We embed sustainability and circular design principles into all new product development. Our solutions, including equipment and software, reduce food waste, increase resource efficiency, minimize environmental footprint during use, boost yields, add recycling options and optimize portion sizes.

In 2022, Marel invested EUR 97.5 million (2021: EUR 80.8 million), excluding purchase price allocation related costs, representing 5.7% of our revenues (2021: 5.9%) in innovation. This investment supports new product development and ensures the continued competitiveness of our existing product offering.

Marel operates a global sales and service network that reaches more than 30 countries, and we produce a range of solutions that are manufactured in the Netherlands, the US, Brazil, China, Iceland, Denmark, Germany, the UK and Slovakia.

We emphasize strong revenue growth and have achieved a compound annual growth rate of 20% since listing in 1992. As a result of this ambition, our operations generated an economic value of EUR 1,709 million in 2022 (2021: 1,361 million).

In addition, we directly employed an average of 8,018 full-time employees in 2022 (2021: 7,140). Employee benefits (excluding employment taxes) paid during the year amounted to EUR 613 million (2021: 480 million), or 35% of the economic value generated.

Marel’s total tax footprint amounted to EUR 245 million in 2022 (2021: 200.5 million). Taxes paid by Marel in 2022 amounted to EUR 82 million (2021: 71.1 million), representing 4.8% of the economic value generated.

Of Marel’s total tax footprint, employment taxes borne by employees accounted for 57.5%, followed by employee taxes borne by Marel at 20.4%, corporate taxes at 13.0% and other taxes and duties at 8.9%.

Various national and international trade laws restrict or prohibit the import and export of products. These restrictions can stem from factors such as the chemistry of a product, the country of origin, the destination of the product or service, or the proposed end user or end use.

In addition, Marel is subject to strict requirements regarding compliance with customs regulations. All employees involved in importing or exporting goods and services must comply with all applicable provisions of laws and regulations, be aware of the high-risk countries, and ensure the sanctions checks have been conducted before doing any business there.

Failure to comply with applicable export and import controls or sanctions may result in fines or other penalties for Marel. Individuals who knowingly disregard sanction rules may also face legal consequences.