BioMar reports record success for 2023

Having achieved a successful Q4, BioMar concluded the year with very strong results, going above the guidance to the market. Despite the reported volumes and revenue being similar to those achieved in previous years, BioMar succeeded in improving EBITDA by 26 percent, when looking across consolidated companies and joint ventures.

“I am extremely satisfied with our business performance for 2023. We have continued to optimise our product portfolio and product concepts, being proactive to the development in the markets. At the same time, we have improved our commercial performance both up- and downstream,” stated Carlos Diaz, chief executive officer at BioMar, in a press release from the aquafeed company.

“Looking at the totality of our business, including our joint ventures in Turkey and China, the year summed up to a volume of 1.6 million tons, a turnover of DKK 20 billion and an EBITDA of DKK 1.4 billion,” he added.

The revenue reported by BioMar for 2023 was similar to that reported for the previous year, but with a slightly lower sales volume. This year’s results are due, in part, to the company’s efforts to foster long-term business relationships with new suppliers, as Diaz explained in the press release.

“To us, it is becoming increasingly important to create partnerships with suppliers of novel raw materials as well as forward-looking customers who believe in building long-term business relationships instead of a transactional value chain. It is only possible to change the future if we together share an ambition of a sustainable and efficient aquaculture,” he said.

“We have prioritised long-term product collaborations with our core customers, rather than chasing volumes. This means that our volumes have stayed stable compared to 2022. We are building a healthy business, which can further propel the development of our financial performance as well as our sustainability ambitions,” Diaz concluded.

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