Strong Q1 for BioMar Group
The quarterly report for BioMar Group has today been released by the parent company Schouw & Co. It states that BioMar Group has delivered a strong Q1 in both volumes and profits driven by good operational performance across the divisions but in particular in the Salmon Division.
BioMar Group continues to deliver strong financial results. The company has performed a Q1 with improved sales and stronger EBIT compared to Q1 2016. In the Salmon division the sales volume was almost 30% higher than same quarter last year and all three country units in the division were performing better: Norway, UK and Chile. In the same period the company has shown ability to deliver the right product innovations to the market.
"We have across the divisions seen very good results from our efficiency improvement programs and our margin management. But most important we have been able to be at the market at the right time with new product concepts targeted at strengthening the sustainability of the industry as well as the quality and health dimension of the products delivered to the end-consumer", explains Carlos Diaz, CEO in BioMar Group.
At the Seafood Expo in Brussel last week BioMar Group announced that a future cooperation with Lerøy Seafood Group and TerraVia is going to ensure that all salmon farmed by Lerøy Seafood will benefit from a sustainable high level of Omega 3-DHA in the feed partly deriving from the microalgae ingredient, AlgaPrime.
"In BioMar Group we are continuously working to take the next steps in innovating aquaculture. To us novel oils and product with a measured sustainability profile is not a future vision. It is a reality! We have right now a range of salmon customers delivering new product value propositions based upon our feed concepts. We hope very soon other species could join this trend. We live our purpose, and our guiding principles are innovation, sustainability, cooperation and performance, so the initiatives launched with our customers around the globe are in line with our strategy. We are confident that we are well prepared for the enhancing the efficiency and sustainability of the industry", explains Carlos Diaz.
Together with the launch of new products BioMar Group has also launched the construction of a new feed factory in Australia establishing a solid platform for close cooperation with the customers in the region.
"We have during 2016 and the first part of 2017 been cooperating across the company improving and developing our new units in Turkey and China. We will continue this effort while investing resources in building up a new business unit in Australia. These expansions are in line with our strategy into new species and markets", states Carlos Diaz.