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%.
Across the divisions, BioMar shows solid results for the first half year of 2024. The quarterly reporting reveals that the business is ready to deliver on all-time high EBITDA for the year. However, the volumes and revenue are expected to be slightly lower than 2023 due to lower raw material prices in several categories, combined with decreasing volumes in the Salmon division driven by different sales contract positions and biology issues in some markets.
“We have experienced a very satisfactory first half of the year. Building upon a strong Q1, BioMar has maintained momentum, mainly due to our focus on operational and commercial excellence. We are consolidating our strategic move away from being merely a transactional provider, into being a partner going above and beyond, enabling our customers to meet their efficiency goals and at the same time focus on people and planet, while maximizing performance and animal health. This approach has enabled us to attract and develop our customer base, but it has also affected our volume growth since we are focusing on customers and contracts, which backs this approach and allows us to be efficient together in a win-win relation”, explains CEO Carlos Diaz, BioMar Group.
“Our JV feed companies, which are both located in important growth markets, Turkey and China, are continuing their good development. The revenue is lower due a decrease in raw material prices combined with a transition of commercial activities towards less credit risk. However, we have a focus on commercial excellence and internal efficiency, which enables us to be close to the level of 2023 when looking at EBITDA”, concludes Carlos Diaz.
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.