BioMar reports strong midyear performance in challenging market conditions

DENMARK –  BioMar Group, a leading producer of sustainable aquafeeds, has announced robust financial results for the first half of 2024, showcasing the company’s resilience and strategic insight in navigating challenging market conditions. 

Despite a decline in both volume and revenue compared to the previous year, BioMar’s EBITDA (earnings before interest, taxes, depreciation, and amortisation) surged by 36%, positioning the company for what could be a record-breaking full-year performance.

The company’s midyear report highlights solid outcomes across its various divisions, with a robust first quarter contributing to the overall positive trajectory. 

While the second quarter saw reduced volumes and revenue—primarily due to lower raw material prices and decreased volumes in the salmon division—the impressive increase in EBITDA reflects BioMar’s focus on operational and commercial excellence.

Carlos Diaz, CEO of BioMar Group, expressed satisfaction with the company’s performance, emphasising that BioMar’s strategic evolution from a transactional provider to a collaborative partner has been key to its sustained success. 

Diaz noted that this shift, which prioritises customer efficiency, sustainability, and animal health, has strengthened BioMar’s customer relationships and influenced the company’s volume growth, as it now concentrates on contracts that align with its strategic goals.

In addition to its core operations, BioMar’s joint venture feed companies in Turkey and China continue to demonstrate positive development. 

“Our JV feed companies in important growth markets, Turkey and China, continue their good development. The revenue is lower due to decreased raw material prices and a transition of commercial activities towards less credit risk. However, we have a focus on commercial excellence and internal efficiency, which enables us to be close to the level of 2023 when looking at EBITDA,” said Díaz

Looking ahead, Diaz reaffirmed BioMar’s commitment to maintaining its momentum through strategic customer partnerships and ongoing operational improvements. 

BioMar gears up to host the fifth edition of Patagonic RAS

In other news, BioMar is set to host the fifth edition of Patagonic RAS, the leading biennial international conference dedicated to recirculating aquaculture systems (RAS), on November 19, 2024, at Teatro del Lago in Frutillar, Chile. 

As global challenges continue to shape the aquaculture industry, RAS technology remains at the forefront, driving advancements in fry rearing, post-smolt production, and full grow-out operations. 

This year’s event will bring together industry experts to explore the integration of technological, physiological, genetic, and nutritional innovations necessary to maximise aquaculture’s potential in recirculating systems. 

Patagonic RAS 2024 will feature three thematic sessions: System Production and Management, Specific Nutrition for Optimal Fish and System Performance, and Health and Welfare in RAS. 

These sessions will delve into the expertise required for effective RAS production, the latest innovations in nutrition aimed at enhancing fish performance while reducing environmental impact, and the intricate dynamics between fish health, system management, and production. 

The event promises to be a hub for knowledge exchange, collaboration, and discovering new business opportunities, fostering the future of RAS aquaculture. Registration details will soon be available on the BioMar website.

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