BioMar has released its half year report, and total volumes and revenues are up compared with 2017. The increase is the result of good performance in core markets and new business; however, the salmon markets are down.
BioMar Group sales volume increased 8% compared to same period last year, mainly driven by the new shrimp business unit in Ecuador, Alimentsa. Innovative products integrating high performance, functional feeds and sustainability concepts have shown to be a very strong platform for growth in the new markets.
“We see a strong performance in Ecuador as well as in our newly established companies in China and Turkey,\" stated Carlos Diaz, CEO in BioMar Group. \"We are proud that we have been able to integrate the new business units in BioMar Group at the same time enhancing growth, innovation and collaboration with the customers. In line with our strategy, we have managed to contribute with our global approach and knowledge base, maintaining the local agility.\"
While the other markets are performing according to expectation, the full-year guidance has been lowered as the severe competition in Norway has impacted the volumes to be produced in the last part of 2018. However, BioMar is confident that the situation will change significantly going forward.
“The competition is merely accelerating our speed of development,\" added Diaz. \"We have already taken initiatives to increase our volumes and to achieve sustainable profitability. There is no doubt that we will continue to take lead, collaborating with our customers and the industry in general, driving innovation, sustainability and efficiency. I am confident that we have the means to get our growth in the salmon markets back on track.\"