November 9, 2020

BioMar heads for robust full-year results

BioMar's Q3 report has been released by its parent company, Schouw & Co this month.

The report underlines that BioMar keeps to a steady course despite a challenging and complex business environment.

BioMar Group continues to deliver solid financial results with an 8% increase in volume sold and 4% increase in revenue compared to Q3 last year.

The growth was mainly delivered by a good performance in the salmon markets across all geographies. BioMar's other divisions experienced slightly declining sales volumes due to shrimp and fish exports disrupted by the pandemic and the medium-term consequences of the winter storm in the Spanish coast at the beginning of the year.

"We have been able to steer the business through this period of global uncertainty with solid results. Markets are changing around us - the sales channels for fish and shrimp are being disrupted by the affected HORECA sector and our customers are facing difficult times requiring new solutions. We are constantly striving to be agile and to support our customers across the globe as much as possible," said Carlos Diaz, CEO of BioMar Group. 

BioMar's EBITDA declined in Q3 compared to last year. However, its year-to-date EBITDA surpasses the 2019 level.

The group continues to deliver solid financial results with an 8% increase in volume sold and 4% increase in revenue compared to Q3 last year.

"It is difficult right now for everyone to predict what the world will look like just few months ahead. Are we facing new massive lockdowns across the globe, or will there soon be light at the end of the tunnel? Right now, we will continue taking care of our people and securing supply and business continuity for our customers," said Diaz.

"We are heading for a full year, where we are comfortable about the guidance, we have given to the stock market. Despite the impact of the coronavirus on the HORECA sector, we see demand for fish and shrimp increasing impressively through other channels, so we are confident in the fundamentals of the aquaculture industry."

- BioMar