- 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.
Despite lower sales volumes, BioMar reports an increase in revenue by 41%, while earnings recovered significantly compared to Q3 2021. The company is now raising earnings guidance for the full year to the range of DKK 960-1,000 million.
Driven by a solid sale in the feed business combined strong results in the newly acquired AQ1, BioMar earnings went up by 45% compared to Q3 2021. The significant increase in revenue was mainly driven by higher market prices on raw material and to some extend currency development. Revenue for the year to date amounted to DKK 12,887 million, compared with DKK 9,256 million in the same period 2021.
“Coping with the consequences of pandemic, followed by the war in Ukraine and our exit from Russia, our organisation has focused on improving commercial and operational excellence. Developing our processes and creating value from data analytics is more important than ever to counteract the inflationary effects on our costs. We have been engaged in creating efficiencies in our supply chain, while working together with our customers designing new solutions for existing and new commercial relationships. We are still not at a normal profit level, but we are moving in the right direction”, comments Carlos Diaz CEO BioMar Group.
Earnings continue to be impacted by the missing sales from Russia and of replacing raw materials from Russian/Belarus. Based on the business results in Q3 and the improved prospects for the rest of the year, BioMar has now raised its earnings guidance for 2022 to the DKK 960-1,000 million range from the DKK 910-960 million range.
Results (46)
Concluding a successful year, BioMar achieved a strong Q4, resulting in the best results ever for the group.
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.
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.
The positive development is mainly driven by stronger development in the Salmon and LATAM divisions, compensating for a weaker result in the EMEA division.
The investment will allow for an expansion into a new, larger facility with the capability of performing trials in semi-industrial conditions.
BioMar Australia is excited to announce a $15 million-dollar, nation-leading project to construct the first green methanol ready vessel in Australia.
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%.
BioMar takes another important step to expand its global footprint within shrimp feed.
The significant increase in revenue in Q1 was driven by higher sales volumes, raw material prices, and to some extend currency rate development.
The significant increase in revenue in Q2 was driven by higher sales volumes, raw material prices, and to some extend currency rate development.
BioMar concludes the year with solid growth across markets with a significant increase in volumes and revenue, reaching an all-time high level.
BioMar concludes the year with solid growth across markets with a significant increase in volumes and revenue, reaching an all-time high level.