BioMar concludes 2022 with record results
The positive development is mainly driven by stronger development in the salmon and LATAM divisions, compensating for a weaker result in the EMEA division.
BioMar ended 2022 with a strong Q4, bringing the full-year results to beat the earning guidance of DKK 1 billion (USD 142 million) EBITDA. The positive development is mainly driven by stronger development in the salmon and LATAM divisions, compensating for a weaker result in the EMEA division.
BioMar ends the year underlining the strong growth of the company. The EBITDA of the year increased by 11%, while the revenue grew by 34%. On top of the consolidated results, BioMar doubles the results of the non-consolidated JV feed companies, mainly driven by the JV BioMar-Sagun in Türkiye.
“We are very satisfied with the performance of the group. We have been significantly affected by our exit from Russia and the increased raw material and energy prices, but we have managed to sustain a healthy business, continuing our growth strategy while expanding into the technology space,” explained Carlos Díaz, CEO of BioMar Group.
“Financially, we had a slow start to the year due to several one-offs and the impact of global inflation. However, our people around the world have made a tremendous effort to build new and creative commercial solutions through an agile collaboration with customers. Hence, we have managed to conclude the year with a decent result, despite the global volatility. We are progressing as planned, executing our 2028+ strategy ‘Above and Beyond’, both in terms of growth, product offerings, and increased efficiency,” stated Díaz.