- 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.
BioMar concludes the year with solid growth across markets with a significant increase in volumes and revenue, reaching an all-time high level. While EBITDA is more than doubled, revenue grew by 21%. At the same time, BioMar emphasises the strong performance of the joint-ventures in China and Turkey.
Across the divisions, BioMar shows solid results in Q1. While the EMEA division is getting back on track after the decision to pull out of Russia in 2022, the Salmon division has delivered stable results. In the LATAM division, volumes have increased, mainly driven by the continuous development of strong product offerings and new production capacity in Ecuador:
“I am very satisfied with the overall performance of BioMar. Despite some challenging market conditions in both the salmon and the shrimp industry, we are continuing consolidating our position. At the same time, we have reflected our actual cost structure in our prices and built new pricing models together with our customers, ensuring a solid financial performance regardless of the turbulence”, explains CEO Carlos Diaz.
“Furthermore, I am very proud to see the results of our non-consolidated joint-ventures reaching new levels. As part of our growth strategy, we took a decision to be present in the important aquaculture markets in Turkey and China. It took time to build business, but now we can see that the joint effort with our partners is paying off. We have more than doubled both revenue and EBIT since Q1 last year”, continues Carlos Diaz.
BioMar maintains the guidance for the year 2023, being confident in reaching a revenue of 18-19 bn DKK, with an EBITDA guidance in the range of 1,080-1,150 mDKK.
Results (48)
Concluding a successful year, BioMar achieved a strong Q4, resulting in the best results ever for the group.
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.
Aquaculture Stewardship Council (ASC) is thrilled to announce that BioMar UK has become the first ASC certified feed production facility the United Kingdom.
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 takes another important step to expand its global footprint within shrimp feed.
The investment will allow for an expansion into a new, larger facility with the capability of performing trials in semi-industrial conditions.
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 positive development is mainly driven by stronger development in the Salmon and LATAM divisions, compensating for a weaker result in the EMEA division.
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 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 concludes the year with solid growth across markets with a significant increase in volumes and revenue, reaching an all-time high level.
The significant increase in revenue in Q2 was driven by higher sales volumes, raw material prices, and to some extend currency rate development.