"In many ways, the year 2025 has been an important stepping stone in our development," said CEO Carlos Diaz.
Photo: BioMar.
Aquaculture feed company BioMar has reported a significant rise in feed volumes in 2025, while maintaining earnings broadly in line with the previous year, in its annual report published this week.
The company said total feed volumes increased by 13% to reach 1.56 million tonnes during the year. Growth was led by a sharp rise in its shrimp business, where volumes jumped 31%. Its salmon segment also expanded by 8%, while feed sales for other selected species rose by 11%.
BioMar also recorded a 21% increase in volumes generated through its joint ventures in China and Türkiye.
Chief executive Carlos Diaz said the company’s expansion was linked to partnerships with aquaculture producers focused on improving sustainability and efficiency.
“We have an unwavering focus on building up business with the right customers," Diaz said via a press release.
“We have not just gained market share but built up even stronger long-term partnerships with customers across the globe with whom we share a passion for building efficient and sustainable aquaculture. The volumes are primarily coming from customers who are taking lead in building new standards for the industry,” the CEO added.
Despite the higher sales volumes, BioMar reported earnings before interest and tax (EBIT) that were broadly unchanged compared with 2024. However, the company said its return on invested capital increased from 21.2% in 2024 to 23.6% in 2025.
According to the company, results were also influenced for the first time by its Tech Solutions division. “We have during the last years invested in building up the Tech Solutions segment, enhanced our R&D capabilities, organisation and global sales presence," Diaz explained.
"Looking back at 2025, it is rewarding to see how our strategic commitment to future-proofing the company by advancing feed solutions technology is gaining momentum and beginning to contribute to our earnings,” he said.
During the year, BioMar also moved to strengthen its organisational structure and global footprint. As previously reported by WeAreAquaculture, the company acquired full ownership of its operations in Ecuador and Costa Rica, and increased its salmon research capacity in Norway by purchasing the remaining shares in the aquaculture research centre LetSea.
“In many ways, the year 2025 has been an important stepping stone in our development. We have been ramping up volumes, and in 2026 we expect to launch new lines in China and Ecuador, while investing in current production capabilities and new technology, preparing for even more organic growth,” Diaz said.
He added that 2026 is expected to be a "transition year" as the company works towards a mid-term goal of increasing feed volumes organically by an average of 4–6% per year through to 2030.
The company recently announced plans to expand production in China, by adding 50,000 tonnes of capacity at its facility in Wuxi, with a new production line expected to be operational in early 2027.
BioMar’s parent company, Schouw & Co., is also evaluating a potential separate stock market listing of the aquaculture feed business, a process Diaz said could help strengthen the company further.
“Our owner, Schouw & Co., has decided to evaluate a separate listing of BioMar, which is ongoing. The process is extremely valuable for BioMar, enabling us to fortify our business even further,” Diaz said.
