Concluding a successful year, BioMar achieved a strong Q4, resulting in the best results ever for the group. Across the divisions, a compelling product value proposition combined with increased focus on commercial excellence has resulted in optimised business performance.
As expected, BioMar concluded the year with very strong results, going above the guidance to the market. Despite volumes and revenue for the full year being on level with 2022, BioMar succeeded in improving EBITDA by 26%, when looking across consolidated companies and joint ventures.
“I am extremely satisfied with our business performance for 2023. We have continued to optimise our product portfolio and product concepts, being proactive to the development in the markets. At the same time, we have improved our commercial performance both up- and downstream. Looking at the totality of our business, including our joint ventures in Turkey and China, the year summed up to a volume of 1.6 million tons, a revenue of DKK 20 billion and an EBITDA of DKK 1.4 billion” explains Carlos Diaz, CEO in BioMar Group and continues:
“The results have been driven by our efforts in positioning ourselves as value creators for customers as well as suppliers. To us, it is becoming increasingly important to create partnerships with suppliers of novel raw materials as well as forward-looking customers who believe in building long-term business relationships instead of a transactional value chain. It is only possible to change the future if we together share an ambition of a sustainable and efficient aquaculture”, explains CEO Carlos Diaz.
The revenue for 2023 ended at the same level as 2022, but on a slightly lower sales volume. The biological conditions have in some geographies been challenging; however, the development in volumes has mostly been a result of a clear commercial positioning:
“We have prioritised to build long-term product collaborations with our core customers, rather than chasing volumes. This means that our volumes have stayed stable compared to 2022. We are building a healthy business, which can further propel the development of our financial performance as well as our sustainability ambitions”, concludes Carlos Diaz.
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.
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.
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 Australia is excited to announce a $15 million-dollar, nation-leading project to construct the first green methanol ready vessel in Australia.
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.
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 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.
In 1998, the BioMar Group Newsletter informed that BioMar Greece doubled its sales volume, compared to 1997.