BioMar Group reports record revenue and earnings in 2019 reflecting and increase in volumes sold and a stronger product offering. All three business divisions contributed to this positive development.
Adjusted for IFRS 16, EBITDA increased by 15% compared to 2018. At the same time revenue increased by 8%, mainly driven by the Salmon Division, where innovative product offering and close collaboration with customers around advanced feed solutions continue to create growth.
“It is a great achievement for the entire group, that we have turned an ambitious strategy into tangible results. We have expanded capacity and global presence during the last year. At the same time, we have gone through extensive structural and organizational 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,” said Carlos Diaz, CEO at BioMar Group.
The company expects that 2020 will bring further capacity on stream and continue to underline its global presence. BioMar 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 COVID-19 will be removed. Furthermore, announced capacity expansions in Denmark and Ecuador increase the possibility to meet customer demands and open-up for new product offerings within extruded shrimp feed and RAS feed.
“We are continuing our global growth strategy. We strongly believe in being locally agile at the same time using our global strength to innovate for the future. We have the privilege to be 100% dedicated to aquaculture. I believe this will be an important differentiator in the future, enabling us to be agile in our customer collaboration and keeping the development of a sustainable and efficient industry as our main company purpose”, said Diaz.