- Financials
Despite lower Q3 volumes, BioMar maintains guidance for a strong 2024
BioMar's third quarter reveals a decline in sales volumes year-on-year, while the company is still heading for a strong full-year result.
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The year 2024 underlined the long-term positive development of BioMar. Profitability was remarkably strong in a year of declining volumes and revenue. Concluding a successful year, BioMar achieved a strong Q4, resulting in the best results ever for the group.
As expected, BioMar concluded the year with very strong results, going above the last guidance to the market. Despite volumes and revenue for the full year being lower than 2023, BioMar succeeded in improving EBITDA by 18%, when looking across the consolidated companies.
“It is with great satisfaction that we look back at 2024. We have driven a meticulous focus on building a strong business, and the increase in profitability is the result of an unwavering strategic focus on optimising our product portfolio, combined with a series of operational excellence measures. The improvement was broadly based across divisions and business units and reflects our continuous efforts on products, performance and efficiencies in our factories and supply chain”, explains CEO Carlos Diaz, BioMar Group.
Despite a positive fourth quarter, volumes for the consolidated companies decreased by 5% to 1,372 million tonnes.
“The lower volume should be seen in the light of our commercial excellence efforts where we deliberately steer away from contracts with less potential for mutual beneficial partnership on advanced feed solutions and from sales to high-risk customers. In other words, we prioritise building long-term value together with our customers over transactional relations, volume and market share.
At the same time, the volumes were affected by biological conditions in Norway and Chile plus energy shortages in Ecuador. Revenue declined 7% to DKK 16.6 billion reflecting the lower volume and lower raw material prices during the year”, continues Carlos Diaz.
“On top of the results from the consolidated companies, it is worth bringing attention to the fact that our feed production joint ventures in China and Turkey did well again in 2024 and reported a combined nonconsolidated revenue of DKK 1,502 million and an EBITDA of DKK 166 million (100% basis)”, concludes Carlos Diaz.
BioMar expects to generate full-year 2025 revenue of about DKK 16.0-17.0 billion, but changing market conditions and volatile prices of raw materials may as always impact the revenue forecast substantially. Given the current outlook, the company expects 2025 EBITDA in the range of DKK 1,470-1,570 million.
Results (20)
- Financials
Read moreStrong results despite challenging volume development
Midyear, BioMar discloses strong momentum aiming for another all-time high full year result. While volumes and revenue for the second quarter of the year are lower than last year, EBITDA is up by 36%.
- Financials
Read moreBest first quarter ever to BioMar
By adding all the feed companies in the Group managed by BioMar, including joint ventures, BioMar ends with a record first quarter of EBITDA of more than DKK 310 million.
- Financials
Read moreBioMar reports record results for 2023
Concluding a successful year, BioMar achieved a strong Q4, resulting in the best results ever for the group.
- Financials
Read moreBioMar raises expectations for 2023
BioMar is coming out of the third quarter with a 5% increase in volumes year-on-year. The increase in volumes, combined with a strong product strategy,
- Financials
Read moreSolid start of the year for BioMar
BioMar concludes the year with solid growth across markets with a significant increase in volumes and revenue, reaching an all-time high level.
- Financials
Read moreBioMar concludes 2022 with record results
The positive development is mainly driven by stronger development in the Salmon and LATAM divisions, compensating for a weaker result in the EMEA division.
- Financials
Read moreSolid Q3 for BioMar Group
The company is now raising earnings guidance for the full year to the range of DKK 960-1,000 million.
- Financials
Read moreBioMar Group 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.
- Financials
Read moreBioMar volumes up by 8% compared to Q1 2021
The significant increase in revenue in Q1 was driven by higher sales volumes, raw material prices, and to some extend currency rate development.
- Financials
- Our People
Read moreBioMar stops all commercial activities with and within Russia
Following the invasion of Ukraine, BioMar Group shuts down all trade activities with Russia. The decision includes sales of finished products as well as the sourcing of raw materials.
- Financials
Read moreBioMar reports 14% revenue growth in 2021
BioMar concludes the year with solid growth across markets with a significant increase in volumes and revenue, reaching an all-time high level.
