Statement on the Russian military invasion of Ukraine

Ukraine Statement

Marel strongly condemns the military actions of the Russian government in Ukraine. We express our deepest condolences to those affected by the violence. Marel took immediate action to ensure the safety of our employees inside Ukraine.

Marel has taken the decision to pause all new projects in Russia. Marel operates a sales and service office in Russia and employs a team of approximately 70 people. We have limited reliance on vendors and do not operate any manufacturing facilities in the area. Marel will continue to comply with all applicable sanctions.

Since the Russian government invaded Ukraine, Marel has and will continue to prioritize the safety and wellbeing of our employees. Marel will maintain our dedicated teams in the Ukraine and Russia and our office in Russia, despite expected lower utilization in the near future. Marel will continue to monitor the invasion closely and take appropriate actions as it evolves.

Marel’s annual revenues and order book in Russia and Ukraine amount to approximately 4% of total. We are engaging with our customers and assessing the potential impact on revenues and operational results, and will provide an update in our Q1 2022 financial reporting.

We are deeply affected by the humanitarian crisis and Marel is making a donation to an international humanitarian organization, to provide access to humanitarian aid including food, water, shelter, and maintenance of basic infrastructure in Ukraine. We have been touched by all local initiatives from our employees to support and help those directly impacted.

 



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