August 18, 2017

BioMar Group reports 28% hike in sales in H1

The BioMar Group continues to deliver strong financial results as it reported a 28% increase in sales volume covering the first-half period. The increase was mainly driven by the salmon markets in Europe.

Innovative products integrating high performance, functional feeds and sustainability concepts have shown to be a very strong platform for growth, according to the company.

"We are proud that we have been able to create solid partnerships with customers as well as suppliers in our effort to develop the industry", said Carlos Diaz, CEO in BioMar Group.

"We are right now taking major steps in improving our ability to design and document truly sustainable products together with the customers. We will in a short time be ready to launch our new tool Triple S (Sustainable Solution Steering) enabling us to enhance transparency and measure the sustainability of our products looking all the way up the value chain", he added.

BioMar expects to reach the revenue of 9.8 billion DKK in 2017, which will be a record year for the company. At the same time BioMar is preparing for significant growth in new markets through acquisitions and green field projects.

BioMar's latest announced expansion project has been the acquisition of Alimentsa in Ecuador which, together with the existing factories in South and Central Americas, will constitute a strong production footprint and a solid platform for the continuous development of high-end shrimp feed.

In the first half of 2017 BioMar has furthermore announced the construction of a new factory in Australia. The factory will complement the strong salmon division and work closely with the local customers in developing feed for other species in the region.