- 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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Concluding a successful year, BioMar achieved a strong Q4, resulting in the best results ever for the group. Across the divisions, a compelling product value proposition combined with increased focus on commercial excellence has resulted in optimised business performance.
As expected, BioMar concluded the year with very strong results, going above the guidance to the market. Despite volumes and revenue for the full year being on level with 2022, BioMar succeeded in improving EBITDA by 26%, when looking across consolidated companies and joint ventures.
“I am extremely satisfied with our business performance for 2023. We have continued to optimise our product portfolio and product concepts, being proactive to the development in the markets. At the same time, we have improved our commercial performance both up- and downstream. Looking at the totality of our business, including our joint ventures in Turkey and China, the year summed up to a volume of 1.6 million tons, a revenue of DKK 20 billion and an EBITDA of DKK 1.4 billion” explains Carlos Diaz, CEO in BioMar Group and continues:
“The results have been driven by our efforts in positioning ourselves as value creators for customers as well as suppliers. To us, it is becoming increasingly important to create partnerships with suppliers of novel raw materials as well as forward-looking customers who believe in building long-term business relationships instead of a transactional value chain. It is only possible to change the future if we together share an ambition of a sustainable and efficient aquaculture”, explains CEO Carlos Diaz.
The revenue for 2023 ended at the same level as 2022, but on a slightly lower sales volume. The biological conditions have in some geographies been challenging; however, the development in volumes has mostly been a result of a clear commercial positioning:
“We have prioritised to build long-term product collaborations with our core customers, rather than chasing volumes. This means that our volumes have stayed stable compared to 2022. We are building a healthy business, which can further propel the development of our financial performance as well as our sustainability ambitions”, concludes Carlos Diaz.
Our Insights
Results (48)
- Financials
Read moreBioMar achieves UK’s first ASC Feed Certification
Aquaculture Stewardship Council (ASC) is thrilled to announce that BioMar UK has become the first ASC certified feed production facility the United Kingdom.
- 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
- 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 further invests in LARVIVA hatchery feed success
The investment will allow for an expansion into a new, larger facility with the capability of performing trials in semi-industrial conditions.
- Financials
- RAS
Read moreBioMar scales up RAS and fry feed production in Denmark
BioMar announces the new production line in Brande, Denmark, is now fully operational. The line is dedicated to RAS and fry aquaculture feed production and is the result of a DKK 100 million investment that has enabled BioMar to increase the annual capacity of the Danish facility by 25%.
- 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 moreBioMar and Viet-Uc enter a strategic partnership
BioMar takes another important step to expand its global footprint within shrimp feed.
- 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 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 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 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.
