BioMar reports year-on-year volume sales up by 9 % and an increase in revenue by 42 %. Despite still being challenged by raw material prices, energy costs and the impact of suspending trade with Russia, BioMar earnings improved significantly, causing the company to raise guidance for the full year.
Driven by a strong sale in Q2, BioMar earnings went up by 24% compared to Q2 2021. The significant increase in revenue in Q2 was driven by higher sales volumes, raw material prices, and to some extend currency rate development.
“I am proud to announce the strong growth trend in sales volumes being confirmed. Production costs continue to be a challenge, but together with our customers, we have been able to find commercially viable solutions, safeguarding the strength of the value chain”, comments Carlos Diaz, CEO BioMar Group.
Earnings continue to be impacted by the delay in passing on the sharp increase in raw materials prices, logistics and energy as well as by the cost of replacing raw materials from Russia/Belarus:
“It is heart-warming to see that several of our customers have drawn the same line in the sand as BioMar, despite the short-term business impact. BioMar is a purpose-driven company, and to me, business ethics and our ability to protect our customer’s brands must always come first. It is still surprising and disappointing to witness some of our main global competitors continuing to trade with Russia, both selling feed and buying raw materials, in a way taking advantage of the situation. We still strongly believe we took the right decision despite the financial effects”, explains Carlos Diaz CEO BioMar Group.
Based on the strong business activity in Q2 and the improved prospects for the rest of the year, BioMar has now raised its earnings guidance for 2022 by DKK 55 million to EBITDA in the DKK 910-960 million range after recognition of provisions for losses on assets related to Russia.
Results (51)
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.
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.
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.
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.
The investment will allow for an expansion into a new, larger facility with the capability of performing trials in semi-industrial conditions.
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's third quarter reveals a decline in sales volumes year-on-year, while the company is still heading for a strong full-year result.
BioMar Australia is excited to announce a $15 million-dollar, nation-leading project to construct the first green methanol ready vessel in Australia.
Aquaculture Stewardship Council (ASC) is thrilled to announce that BioMar UK has become the first ASC certified feed production facility the United Kingdom.
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 significant increase in revenue in Q1 was driven by higher sales volumes, raw material prices, and to some extend currency rate development.