Record Orders and Strong Revenue Growth
JBT reported record orders of $523 million in Q4, and Marel reported record orders of €474 million, totaling over $1 billion combined. JBT's full-year revenue increased 3%, with adjusted EBITDA up 8%.
Successful Integration of JBT and Marel
The integration of JBT and Marel is progressing well, with significant progress in organizational design and a promising customer-centric go-to-market strategy.
Increased Cost Synergy Expectations
The company raised its cost synergy guidance to $150 million in annual run-rate savings by the end of year three, up from $125 million, mainly due to supply chain savings.
Strong Performance in Poultry and Other Markets
The poultry industry showed strong fundamentals, with incremental investment expected in 2025. Other markets like meat, fish, fruit and vegetable, and pharmaceuticals also performed well, with strong order demand continuing into 2025.