High revenue and EBITDA for feed giant despite coronavirus.
In a press release, BioMar has posted its Q1 results unscathed from the coronavirus.
Revenue was EUR 319 million, up from EUR 286 million the same period before. EBIDTA was EUR 21.3 million, also up, from last year’s EUR 17.6 million.
“We started the year with strong results, having met the challenges of coronavirus with a high-performance across all geographies. The company has at the same time been reaching out to support customers and building inventories to met any business impact caused by the coronavirus,” it wrote in the release.
The increase in revenue and earnings were mainly driven by the salmon and shrimp segments.
“On one hand, we are very proud to have started the year in a good way setting all-time records for a Q1, but we are very conscious of the potential impact of the pandemic on our business and the industry. Being in the food value chain, we play an essential role, making sure high-quality products reach consumers.
“However, there are many uncertainties ahead financially as well as looking at the overall impact of the virus on the countries where we operate,” explained BioMar Group CEO Carlos Diaz.