“It is with great satisfaction that we look back at 2024. We have driven a meticulous focus on building a strong business, and the increase in profitability is the result of an unwavering strategic focus on optimising our product portfolio, combined with a series of operational excellence measures. The improvement was broadly based across divisions and business units and reflects our continuous efforts on products, performance and efficiencies in our factories and supply chain”, explains CEO Carlos Diaz, BioMar Group.
Despite a positive fourth quarter, volumes for the consolidated companies decreased by 5% to 1,372 million tonnes.
“The lower volume should be seen in the light of our commercial excellence efforts where we deliberately steer away from contracts with less potential for mutual beneficial partnership on advanced feed solutions and from sales to high-risk customers. In other words, we prioritise building long-term value together with our customers over transactional relations, volume and market share.
At the same time, the volumes were affected by biological conditions in Norway and Chile plus energy shortages in Ecuador. Revenue declined 7% to DKK 16.6 billion reflecting the lower volume and lower raw material prices during the year”, continues Carlos Diaz.
“On top of the results from the consolidated companies, it is worth bringing attention to the fact that our feed production joint ventures in China and Turkey did well again in 2024 and reported a combined nonconsolidated revenue of DKK 1,502 million and an EBITDA of DKK 166 million (100% basis)”, concludes Carlos Diaz.
BioMar expects to generate full-year 2025 revenue of about DKK 16.0-17.0 billion, but changing market conditions and volatile prices of raw materials may as always impact the revenue forecast substantially. Given the current outlook, the company expects 2025 EBITDA in the range of DKK 1,470-1,570 million.
