November 17, 2025

 

BioMar delivers continued high-volume growth and solid earnings in Q3 2025

 

 

Hitting the peak season, BioMar delivered a record Q3 2025 with an all-time high EBITDA result.

 

Volumes increased by 9% year on year in Q3, while EBITDA increased by 10%. The volume growth was primarily attributable to positive developments in Chile and Ecuador, while biological conditions had an adverse impact on volumes in Norway.

 

"With the strong growth in volumes in Q3, we are well ahead of last year, and with only few months left of 2025, I am looking forward to closing another good year for BioMar," said BioMar chief executive officer Carlos Diaz.

 

"We have delivered growth in volumes with solid margins, and we are on track with our strategic ambitions. It is especially rewarding to see the Tech segment starting to impact our earnings positively as a result of our previous investments in organisation and product development. At the same time, the Shrimp and Selected Species segments are also well ahead of last year, and likewise, our non-consolidated joint ventures are coming out of a Q3 with improved performance."

 

The improved operating earnings are mirrored in solid Return on invested capital increasing to 21.9%. Performance in the quarter was somewhat impacted by challenging biological conditions in the Salmon segment. The company still expects to deliver revenue and EBITDA well within the previously stated range, however narrowed down to clarify outlook.

 

"Unexpected biological conditions have impacted feeding patterns and biomass in Norway, prompting us to narrow our revenue and EBITDA guidance for the full year. Although, we are witnessing good business results, we do no longer expect to meet the high end of our previous guidance," Diaz added.

 

BioMar narrows its full-year 2025 revenue guidance to kr.16.3-16.7 billion (US$2.52–2.58 billion) from the previously expected kr.16.3-17.0 billion and the EBITDA guidance to a range of kr.1,490-1,530 million (US$230–236 million), from previously expected kr.1,490-1,570 million, reflecting lower topline growth than previously expected, mainly due to lower volumes sold in Norway.

 

The evaluation of a potential IPO of BioMar progressed as expected during the third quarter of 2025, supported by a syndicate comprising four financial institutions.

 

To strengthen BioMar's governance and strategic capabilities ahead of the potential listing, two additional members will join BioMar's board of directors, adding competences within capital markets, financial insight and industry expertise. They both bring relevant expertise that will strengthen BioMar's board ahead of a potential independent stock exchange listing while supporting BioMar's continued growth as a leading aquaculture specialist in a growing market driven by global megatrends.

 

These individuals are:

 

    - Marianne Rørslev Bock is a state-authorised public accountant with significant executive experience from listed companies and the current chief financial officer of Scandinavian Tobacco Group. She is also a member of the board of Dagrofa and vice chair of the Danish Financial Supervisory Authority. Previously, she was CFO at Brdr. Hartmann and held various positions at Danisco, as well as serving on several other boards;

 

    - Kristian Johnsen Hundebøll serves on the boards of Danmarks Nationalbank and DLF as well as chair of a growth team established by the Danish government to strengthen the future of green agriculture, food production, and bio solutions. He is the previous chair of DAKOFO and the European agricultural industry association, Intercoop. He has extensive leadership experience, including 12 years as chief executive officer of DLG.

 

Schouw & Co. CEO Jens Bjerg Sørensen will continue as chairman of the board. BioMar's CFO, Claus Eskildsen, will join the company's executive management as a registered member.

 

- BioMar