- Financials
BioMar reports record results for 2023
Concluding a successful year, BioMar achieved a strong Q4, resulting in the best results ever for the group.
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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. This record start of the year has been driven by higher margins as a consequence of a better product mix and commercial excellence efforts.
Across the divisions, BioMar shows remarkable results in Q1. While margins increased due to changes in product portfolio mix, BioMar realised an 8% lower sales volume in Q1 2024 compared to Q1 2023. However, a strong growth in the shrimp feed segment could partly offset a lower sales volume in the salmon feed segment. The lower volumes are explained due to biological issues in different markets combined with an increased focus on long-term customer collaboration, hence moving focus from market share to value creation. The lower revenue is furthermore explained by lower raw material prices and exchange rates.
“After a strong 2023, we have managed to keep momentum and deliver a very strong Q1. All divisions have contributed with results above the expected, which has added up to the overall record for the group. I am proud of the commitment from our employees across the world, and very proud to experience the positive outcome of our increased focus on sustainability as well as our commercial excellence projects”, explains Carlos Diaz, CEO BioMar Group.
BioMar Results Q1 2024
“We can see that we are moving the needle significantly on sustainability. With our Blue Impact product portfolio and the customer collaborations around science-driven reductions in scope 3 emissions, we have positioned us as a strong partner, driving value for both our customer and their customers”, continues Carlos Diaz.
BioMar softens its full-year 2024 revenue forecast for the consolidated companies to DKK 17.0-18.0 billion from previously DKK 17.5-18.5 billion. At the same time, however, the company raises its earnings forecast for the consolidated companies to EBITDA in the DKK 1,270-1,350 million range from previously DKK 1,210-1,290 million. The associated companies and joint ventures are expected to contribute to the full-year results with around DKK 60 million for the share of profit after tax.
Our Insights
Results (46)
- 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
- 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 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 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.
- Climate Action
- Financials
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 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.
- 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 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 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
- 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 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.
