- Climate Action
- Financials
BioMar Australia announces new vessel
BioMar Australia is excited to announce a $15 million-dollar, nation-leading project to construct the first green methanol ready vessel in Australia.
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BioMar reports year-on-year volume sales up by 9 % and an increase in revenue by 42 %. Despite still being challenged by raw material prices, energy costs and the impact of suspending trade with Russia, BioMar earnings improved significantly, causing the company to raise guidance for the full year.
Driven by a strong sale in Q2, BioMar earnings went up by 24% compared to Q2 2021. The significant increase in revenue in Q2 was driven by higher sales volumes, raw material prices, and to some extend currency rate development.
“I am proud to announce the strong growth trend in sales volumes being confirmed. Production costs continue to be a challenge, but together with our customers, we have been able to find commercially viable solutions, safeguarding the strength of the value chain”, comments Carlos Diaz, CEO BioMar Group.
Earnings continue to be impacted by the delay in passing on the sharp increase in raw materials prices, logistics and energy as well as by the cost of replacing raw materials from Russia/Belarus:
“It is heart-warming to see that several of our customers have drawn the same line in the sand as BioMar, despite the short-term business impact. BioMar is a purpose-driven company, and to me, business ethics and our ability to protect our customer’s brands must always come first. It is still surprising and disappointing to witness some of our main global competitors continuing to trade with Russia, both selling feed and buying raw materials, in a way taking advantage of the situation. We still strongly believe we took the right decision despite the financial effects”, explains Carlos Diaz CEO BioMar Group.
Based on the strong business activity in Q2 and the improved prospects for the rest of the year, BioMar has now raised its earnings guidance for 2022 by DKK 55 million to EBITDA in the DKK 910-960 million range after recognition of provisions for losses on assets related to Russia.
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Results (6)
- Financials
Read moreAll systems go as BioMar Australia begins production
BioMar Australia have commenced aqua-feed production at their state-of-the-art 40 million euro facility in Tasmania, Australia.
- Financials
Read moreCommissioning has commenced at Wesley Vale
BioMar Australia have confirmed commissioning has commenced at their Wesley Vale facility with some 38 staff now employed, offices open and world class laboratories now in operation.
- Financials
- Climate Action
Read moreBioMar Australia announces new vessel
BioMar Australia is excited to announce a $15 million-dollar, nation-leading project to construct the first green methanol ready vessel in Australia.
- Financials
Read moreAll systems go as BioMar Australia begins production
BioMar Australia have commenced aqua-feed production at their state-of-the-art 40 million euro facility in Tasmania, Australia.
- Financials
Read moreBioMar achieves record Q2
The significant increase in revenue in Q2 was driven by higher sales volumes, raw material prices, and to some extend currency rate development.
