BioMar reports continued growth in second quarter with strong sales volumes

BioMar Group has reported continued momentum in the second quarter of 2025, with sales volumes rising by 14% compared with the same period last year. The aquafeed producer said the increase was seen across all feed segments and that its operating cash flow more than doubled year on year.

According to the company, EBITDA reached DKKm 349 (EUR 46.7m / USD 54.7m) in Q2, slightly below the DKKm 361 (EUR 48.3m / USD 56.6m) achieved in the same quarter of 2024, which BioMar described as an “exceptionally good” result. Its joint venture businesses in China and Turkey posted EBITDA of DKKm 48 (EUR 6.4m / USD 7.5m), down from DKKm 64 (EUR 8.6m / USD 10.0m) a year earlier.

“As a part of our strategic commitment to growth, we have successfully continued the increase in sales volumes in Q2, reinforcing value-creating partnerships with key customers across our markets," BioMar CEO Carlos Diaz said in a press release announcing the results, adding, "I am proud to witness that this growth was achieved with healthy profitability, improved cash flow and a solid ROIC.”

Diaz acknowledged that a shift in customer mix towards larger clients had affected profit per tonne, but argued that reaching critical volumes was necessary for efficiency and competitiveness.

The company reports that its return on invested capital, including goodwill, stood at 19.6% at the end of June, almost unchanged from 19.8% last year. Operating cash flow was DKKm 249 (EUR 33.3m / USD 39.0m), up from DKKm 116 (EUR 15.5m / USD 18.2m) in Q2 2024, a development the company attributed to “new initiatives within cash discipline”.

Looking ahead, BioMar raised its full-year revenue forecast slightly to DKK 16.3-17 billion (EUR 2.2–2.3bn / USD 2.6–2.7bn), and its EBITDA guidance to between DKK 1,490-1,570 million (EUR 199.4–210.1m / USD 233.6–246 m). It pointed out, however, that market conditions and fluctuating raw material prices could have a significant impact on results.

“We have prepared for this ramp-up by strengthening the commercial and operational excellence of the company, reflected in last year's record earnings. We continue to be on track, rebalancing growth, and I am with great expectations looking forward to the rest of 2025," Diaz concluded.

BioMar currently operates 17 feed factories worldwide, in Europe, Asia, South America and Australia, supplying feed to around 90 countries and for more than 45 different species.

In April BioMar announced it had completed the acquisition of LetSea, a feed trial innovation centre in Norway, followed in May by the news it had become the only global manufacturer with aquafeed production in Iceland through a new partnership with Icelandic feed producer Fóðurblandan.

BioMar is wholly owned by the Danish industrial group Schouw & Co. Last November, the companies announced they were exploring a potential separate public listing for BioMar, with Carlos Diaz stating at the time that this "could provide the right platform for BioMar to continue our growth trajectory."