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, is driving up results. Being almost through 2023, BioMar raises expectation for EBITDA for the full year, driven by the operational results.
Across the divisions, BioMar shows solid results in the third quarter of 2023. The quarterly reporting reveals that the business is ready to deliver on all-time-high volumes and EBITDA for the year. However, the expectation to the full-year revenue is reduced due to lower raw material prices in several categories.
“So far, we have experienced a very satisfying 2023. Building upon a solid first half year, we have accelerated our sales and improved the results, mainly due to our focus on developing the product offerings in the markets. We are looking at a very strong product pipeline with new concepts such as Blue Impact”, explains CEO Carlos Diaz.
“Based on the good momentum and solid outlook, we raise the full-year EBITDA expectations for 2023 to a 1,150-1,190 million range from previously DKK 1,080-1,150 million. This will be a record result in the history of BioMar. I am proud of the engagement from our employees across the globe, which form the basis for turning a challenging year with volatile raw material prices into a success for BioMar and our customers”, concludes Carlos Diaz.
“On top of the strong growth in our consolidated companies, I am proud to see that our JV feed companies are contributing significantly to the results of the group. Both in China and Turkey, we are in a good market position, and we have managed to increase volumes sold significantly. This enables us to be more efficient and brings us in a position where we can invest in building new products and open new market segments. I am confident, that we are entering into a positive cycle”, concludes Carlos Diaz.
Results (49)
he 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.
Concluding a successful year, BioMar achieved a strong Q4, resulting in the best results ever for the group.
The positive development is mainly driven by stronger development in the Salmon and LATAM divisions, compensating for a weaker result in the EMEA division.
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.
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.
Following the successful entrance into the shrimp feed market, the board of BioMar approves the acquisition of AQ1 Systems, the world’s leading producer of acoustic feeding technology for the shrimp farming industry.
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.
The investment will allow for an expansion into a new, larger facility with the capability of performing trials in semi-industrial conditions.
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%.
BioMar takes another important step to expand its global footprint within shrimp feed.
BioMar Australia is excited to announce a $15 million-dollar, nation-leading project to construct the first green methanol ready vessel in Australia.
The significant increase in revenue in Q2 was driven by higher sales volumes, raw material prices, and to some extend currency rate development.