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BioMar reports growth amidst competitive market

Schouw & Co., parent company of BioMar, released its interim report for the third quarter of 2017, which showed that consolidated revenue grew by 12%. In spite of an increasingly competitive market for fish feeds, BioMar reported strong growth in volumes sold, with the largest improvement occurring in the salmon business. However, developments in foreign exchange rates and prices of raw materials have curbed the revenue increase.

November 16, 2017

Schouw & Co., parent company of BioMar, released its interim report for the third quarter of 2017, which showed that consolidated revenue grew by 12%. While all businesses within the company group contributed to the  growth, BioMar was one of the largest contributors. 

In spite of an increasingly competitive market for fish feeds, BioMar reported strong growth in volumes sold, with the largest improvement taking place in the salmon business. However, developments in foreign exchange rates and prices of raw materials have curbed the revenue increase. 

BioMar\'s acquisition of Ecuadorian shrimp feed producer Alimentsa closed on September 13, 2017. As Alimentsa produces 10-15% of the feed used for shrimp farming, the acquisition gives BioMar a powerful entry into the shrimp feed market. 

\"Our businesses operate in competitive growth markets with natural fluctuations in available capacity over time,\" stated Jens Bjerg Sørensen, President of Schouw & Co. \"There are indications of excess capacity occurring in the near future, which would make markets even more competitive and put prices, terms and conditions under pressure. However, we are confident that the long-term perspectives remain intact and that the investments we’ve made to future-proof each of our businesses will produce opportunities for profitable long-term growth.\"

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