EBITDA increased by 15 percent compared to 2018 to reach 966 million kroner (£122 million). At the same time revenue increased by 8 percent, mainly driven by the salmon division, where the company has been formulating a growing portfolio of innovative, advanced feed solutions.
“It is a great achievement for the entire group, that we have turned an ambitious strategy into tangible results. We have during the last year expanded capacity and global presence. At the same time, we have gone through extensive structural and organisational changes. These initiatives are now filtering through to results in the shape of an ability to serve a broader customer base, better price/volume balance as well as a range of advanced product offerings. Furthermore, we have expanded our portfolio of products designed in collaboration with our customers, tailored to target the growing end-consumer segment of people ready to choose products with a strong profile related to sustainability and health-benefits,” explains Carlos Diaz, CEO BioMar Group.
2020 will bring further capacity on stream – the group is already commissioning a new factory in Australia and the second factory in China is preparing for opening as soon as the restrictions related to the COVID-19 are removed. Furthermore, capacity expansions in Denmark and Ecuador will allow the company to produce new lines of RAS feed and extruded shrimp feed respectively.