"I am with great expectations looking forward to the rest of 2025," said Carlos Diaz, CEO of BioMar Group.
Photo: BioMar.
BioMar delivered its strongest-ever third quarter, driven by higher feed demand in Chile and Ecuador and an all-time-high EBITDA, the company has reported.
Volumes rose 9% compared with last year, while earnings increased 10%. The results keep up the momentum from the company's strong second quarter and puts it well ahead of 2024 levels heading into the final months of the year.
In a statement, CEO Carlos Diaz said he is "looking forward to closing another good year for BioMar."
"We have delivered growth in volumes with solid margins, and we are on track with our strategic ambitions. It is especially rewarding to see the Tech segment starting to impact our earnings positively as a result of our previous investments in organisation and product development," he said,
The CEO added that BioMar's Shrimp and Selected have also performed "well ahead of last year" and stated that the firm's non-consolidated joint ventures also showed improved performance.
Return on invested capital climbed to 21.9%, however unusual biological conditions in Norway affected salmon feed volumes and feeding patterns, prompting BioMar to reduce its full-year guidance.
The company now expects revenue of DKK 16.3–16.7 billion, down from DKK 16.3–17.0 billion, and EBITDA of DKK 1,490–1,530 million, slightly lower than the previous guidance range of 1,490–1,570.
BioMar’s evaluation of a potential IPO is moving ahead, and is now backed by a four-bank syndicate, the company confirmed.
In preparation, the company, which is currently the world’s third-largest producer of feed for farmed fish and shrimp, has added two heavyweight profiles to its board with the addition of Marianne Rørslev Bock and Kristian Johnsen Hundebøll.