BioMar disclosed strong momentum aiming for another all-time high full-year result. While volumes and revenue for the second quarter of the year are lower than last year, EBITDA is up by 36%.

Across the divisions, BioMar shows solid results for the first half year of 2024. The quarterly reporting reveals that the business is ready to deliver an all-time high EBITDA for the year. However, the volumes and revenue are expected to be slightly lower than in 2023 due to lower raw material prices in several categories, combined with decreasing volumes in the salmon division driven by different sales contract positions and biology issues in some markets.

“We have experienced a very satisfactory first half of the year. Building upon a strong Q1, BioMar has maintained momentum, mainly due to our focus on operational and commercial excellence. We are consolidating our strategic move away from being merely a transactional provider, into being a partner going above and beyond, enabling our customers to meet their efficiency goals and, at the same time, focus on people and planet, while maximizing performance and animal health. This approach has enabled us to attract and develop our customer base, but it has also affected our volume growth since we are focusing on customers and contracts, which backs this approach and allows us to be efficient together in a win-win relationship,” explained CEO Carlos Díaz, BioMar Group.

“Our JV feed companies, which are both located in important growth markets, Turkey and China, are continuing their good development. The revenue is lower due to a decrease in raw material prices combined with 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.