BioMar sees improved earnings

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BioMar, owned by the listed Danish investment company Schouw & Co, has announced figures for the second quarter of 2017. 

The company, which is the world’s third largest fish feed company, traded for EUR 309.2 million in the second quarter, against EUR 255.5 million in the same period in 2016.

Operating profit was EUR 16.4m, an increase from EUR 14.9m in 2015.

Earnings before taxes totaled EUR 21.1m, an increase from EUR 15.3m in 2016.

Increased market share
The report states: “As expected, BioMar realized significant progress in both sales and operating profit, primarily due to good salmon development.”

The company writes that they have made the greatest progress in the salmon area, where BioMar has increased its market share, although there has been fierce competition.

It is further reported that, in Norway and Scotland, there has been good market development, while in Chile things are about to normalize following the sharp decline experienced following the algal bloom in spring 2016.

Expects revenue of close to EUR 1,3 billion
The report also states that the establishment of the new production line at Karmoy in Norway was completed in July.

The annual capacity of this production line will be 140,000 tonnes of fish feed.

In the report, the company writes: “With the current raw material price outlook, BioMar expects to realize revenue in the amount of EUR 1.3 billion. However, the expected revenue is always subject to any further changes in commodity prices.”