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Salmon feed sales boost BioMar’s Q1

A 30 percent increase in salmon feed sales has helped deliver improved profits for the BioMar Group in Q1.

All three country units in the Group’s salmon division – Norway, UK and Chile – performed better than in the first quarter of 2016, while product innovations were continuing apace too.

Compared to Q1 2016 the group's overall volume of feeds sold increased from 166,000 to 205,000 tonnes, revenue increased from DKK 1532 million to 1996 million, while EBIT rose from DKK 22 million to 51.5 million.

“We have across the divisions seen very good results from our efficiency improvement programs and our margin management. But most important we have been able to be at the market at the right time with new product concepts targeted at strengthening the sustainability of the industry as well as the quality and health dimension of the products delivered to the end-consumer”, explains Carlos Diaz, CEO of BioMar Group.

At the Seafood Expo in Brussel last week BioMar Group announced that a future cooperation with Lerøy Seafood Group and TerraVia is going to ensure that all salmon farmed by Lerøy will benefit from a sustainable high level of Omega 3-DHA in the feed partly deriving from the microalgae ingredient, AlgaPrime.

“In BioMar Group we are continuously working to take the next steps in innovating aquaculture. To us novel oils and product with a measured sustainability profile is not a future vision. It is a reality! We have right now a range of salmon customers delivering new product value propositions based upon our feed concepts. We hope very soon other species could join this trend. We live our purpose, and our guiding principles are innovation, sustainability, cooperation and performance, so the initiatives launched with our customers around the globe are in line with our strategy. We are confident that we are well prepared for the enhancing the efficiency and sustainability of the industry,” explains Diaz. Together with the launch of new products, BioMar Group has also launched the construction of a new feed factory in Australia, establishing a solid platform for close cooperation with the customers in the region.

“We have during 2016 and the first part of 2017 been cooperating across the company improving and developing our new units in Turkey and China. We will continue this effort while investing resources in building up a new business unit in Australia. These expansions are in line with our strategy into new species and markets,” Diaz concludes.

Biomar's feedmill in Grangemouth, Scotland.

© Rob Fletcher