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BioMar surpasses pre-Covid sales

Atlantic Salmon Shrimp Formulated feed +3 more

Aquafeed manufacturer BioMar increased sales by 9 percent and revenues by 7 percent compared to the second quarter of 2019.

The salmon sector helped BioMar perform well in Q2

The growth was mainly delivered through its performance in the salmon markets, supported by the new salmon business in Australia, despite a challenging quarter in shrimp and marine finfish.

“We have seen that in times of crisis, solutions are to be found working together across the value chain. During the last months we have collaborated with suppliers and customers ensuring business continuity and a stable food supply to the end-consumers. At the same time, we have experienced an immense dedication from our employees engaging in delivering high quality products and very competitive product solutions to our customers despite lockdowns and market challenges,” explained Carlos Diaz, CEO of BioMar Group.

The company’s shrimp feed business was challenged by the drop in Ecuadorian shrimp exports to China following Covid-19. Meanwhile the Mediterranean markets were challenged by the closure of the HORECA sector in most European markets and travel restrictions affecting the tourist season, in addition to the storm “Gloria” in Spain destroying significant farming capacity:

“This spring and early summer have been a very challenging and volatile period for all our business units, and we have constantly been on our toes. Fortunately, we have built an operation model where local agility is a cornerstone. Hence our business units have been empowered to find solutions together with the customers as the situation evolved. Being guided by a strong purpose makes it easier to be aligned and innovate when the world is constantly changing,” reflected Diaz.

“I am proud, we are getting through the first period of the pandemic with such positive results. However, we are not on the other side yet and there will most likely be a further business impact from the challenging market conditions for our customers and as BioMar we will be there to support,” he concluded.