BioMar concludes the year with solid growth across markets with a significant increase in volumes and revenue, reaching an all-time high level. However, the bottom-line results were affected by the global increase in raw material prices, logistic costs, and energy prices.
The strong growth was driven by a favourable commercial position in promoting high-end product ranges and delivering strong customer service. The increase in Q4 revenue by 33% and an increase in sales volumes by 14%, was mainly driven by the Salmon Division and the Shrimp business in Latin America.
“I am very satisfied by the performance of the company despite the results not following the development of the top line. We along with all other feed producers are challenged by a situation no one has even seen before. Energy prices has been going through the roof, raw material prices have increased significantly, and logistic costs are at levels we have never seen”, explains Carlos Diaz CEO BioMar Group.
“We are working with our customers to find sustainable commercial solutions going forward and we will probably need to look into a new generation of contracts where the volatility of the markets is taken into account to ensure an optimal pricing structure for our customers”, concludes Carlos Diaz
BioMar ends the year with a slight decline in EBITDA compared to 2020, while revenue grow by 14% and volume also increased by 8% for the consolidated companies.
Results (51)
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.
BioMar Group has announced a partnership for the manufacture and distribution of aquafeed through Fóðurblandan’s production facility in Reykjavik, marking a significant milestone as BioMar becomes the only global manufacturer with aquafeed production in Iceland.
The first quarter of the year underlines the continuous strong performance of BioMar. Record high volumes for the quarter, combined with solid earnings, provides a head start on the year. Year-on-year, BioMar increased volumes by 12%, driven by a positive development across all segments. While Salmon feed volumes increased by 7%, Selected Species went up by 13% and Shrimp reached an impressive increase of 24% in feed volumes, mainly driven by the business in Ecuador.
The positive development is mainly driven by stronger development in the Salmon and LATAM divisions, compensating for a weaker result in the EMEA division.
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.
BioMar Australia have commenced aqua-feed production at their state-of-the-art 40 million euro facility in Tasmania, Australia.
The investment will allow for an expansion into a new, larger facility with the capability of performing trials in semi-industrial conditions.
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.
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.
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.