© Gier Mogen
While second-quarter volumes and revenue have seen a decline compared to the previous year, the company’s EBITDA (earnings before interest, taxes, depreciation, and amortization) has increased by 36%, positioning BioMar for a potential record-breaking full-year result.
The midyear figures reflect solid outcomes across BioMar’s divisions, with the company on track to achieve its highest-ever annual EBITDA. However, overall volumes and revenue are anticipated to be slightly lower than in 2023. This downturn is attributed to reduced raw material prices in several categories and a decrease in volumes within the salmon division, influenced by varied sales contract positions and biological issues in certain markets.
Carlos Diaz, CEO of BioMar Group, expressed satisfaction with the company's performance, particularly in light of a strong first quarter. He noted that BioMar’s continued momentum is largely due to the company’s emphasis on operational and commercial excellence. Diaz highlighted BioMar’s strategic shift from being a transactional provider to becoming a partner focused on enabling customers to achieve efficiency, while also prioritising sustainability and animal health. This strategy, while successful in attracting and developing the customer base, has also impacted volume growth as the company concentrates on contracts that align with this approach.
In addition, BioMar’s joint venture feed companies in Turkey and China, which operate in key growth markets, continue to show positive development. Despite lower revenue due to decreased raw material prices and a shift towards commercial activities with reduced credit risk, BioMar’s focus on commercial excellence and internal efficiency has kept EBITDA close to 2023 levels.
Diaz concluded by affirming BioMar’s commitment to maintaining strong financial performance through strategic customer partnerships and operational improvements, even in a challenging market environment.