BioMar increases EBITDA by 15%: “We have turned an ambitious strategy into tangible results”

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Feed giant says it has delivered “all-time-best” results, mainly driven by Salmon Division.

In a press release on Friday, BioMar posted its 2019 results. The company – which is wholly owned by the Danish industrial conglomerate Schouw & Co – wrote that it had outperformed its guidance with both revenue and volumes sold improved for the year and reported EBITDA improved by more than was expected.

Revenue was EUR 1.5 billion – up from EUR 1.38 billion the year before. EBITDA was EUR 129.3 million up from EUR 95.4 million. 

“The effect of the growth strategy in BioMar Group are now becoming clearly visible at the bottom-line reflecting the full-year results for 2019. Adjusted for IFRS 16, EBITDA increased by 15% compared to 2018. At the same time revenue increased by 8%, mainly driven by the Salmon Division, where innovative product offering and close collaboration with customers around advanced feed solutions continues to create growth,” it wrote.

“It is a great achievement for the entire group, that we have turned an ambitious strategy into tangible results,” explained BioMar Group CEO Carlos Diaz.

“We have during the last year expanded capacity and global presence. At the same time, we have gone through extensive structural and organisational changes. These initiatives are now filtering through to results in the shape of an ability to serve a broader customer base, better price/volume balance as well as a range of advanced product offerings.

“Furthermore, we have expanded our portfolio of products designed in collaboration with our customers, tailored to target the growing end-consumer segment of people ready to choose products with a strong profile related to sustainability and health-benefits”, added  Diaz.

BioMar started up new production capacity in Chile and Denmark during the year and is currently bringing on more capacity in Australia, Ecuador and China. Its second factory in China is preparing for opening as soon as the restrictions related to the COVID-19 will be removed, it wrote.