Aquaculture feed plant belonging to BioMar. (Photo: BioMar)

BioMar achieves strong results in H1 despite strong Norwegian competitiveness

DENMARK
Friday, August 17, 2018, 23:40 (GMT + 9)

Aquaculture feed supplier BioMar Group has achieved a growth in volume and revenue in the first half of the year compared to 2017, according to its parent company Schouw & Co.

The firm informed that the overall result is composed by results in the salmon markets declining slightly while other core markets and new business units have been performing according to expectations.

In the analysed period, BioMar Group achieved a stronger EBITDA of 4.5 per cent year-on-year, to DKK 254 million (USD 38.7 million). In addition, the sales volume increased 8 per cent, to 512,000 tonnes, mainly driven by the new shrimp business unit in Ecuador, Alimentsa.

The total profit reached DKK 4,402 million (USD 617.4 million), which is 3 per cent more than in the first six months of 2017.

The firm’s representatives highlight that innovative products integrating high performance, functional feeds and sustainability concepts have shown to be a very strong platform for growth in the new markets.

“We see a strong performance in Ecuador as well as in our newly established companies in China and Turkey. We are proud that we have been able to integrate the new business units in BioMar Group at the same time enhancing growth, innovation and collaboration with the customers. In line with our strategy, we have managed to contribute with our global approach and knowledge base, maintaining
the local agility”, explains Carlos Diaz, CEO in BioMar Group.

While the other markets are performing according to expectation, the full-year guidance has been lowered by DKK 500 millio, to DKK 10,000 million (USD 1,525 million) as the severe competition in Norway has impacted the volumes to be produced in the last part of 2018.

However, BioMar is confident that the situation will change significantly going forward.

“The competition is merely accelerating our speed of development. We have already taken initiatives to increase our volumes and to achieve sustainable profitability,” points out Diaz.

 
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