BioMar boosted by strong sales in Chile and Ecuador - but Norway trails

Denmark-headquartered aquafeed producer BioMar has reported record third-quarter results with all-time high EBITDA of DKK 510 million (£60.4m).

Volumes increased by 9% year on year in Q3, while EBITDA - a measure of operating profit - increased by 10%.

BioMar said the volume growth was primarily attributable to positive developments in Chile and Ecuador, while biological conditions had an adverse impact on volumes in Norway.

“With the strong growth in volumes in Q3, we are well ahead of last year, and with only few months left of 2025, I am looking forward to closing another good year for BioMar. We have delivered growth in volumes with solid margins, and we are on track with our strategic ambitions,” said chief executive Carlos Diaz.

Stronger shrimp sales

“It is especially rewarding to see the Tech segment starting to impact our earnings positively as a result of our previous investments in organisation and product development. At the same time, the Shrimp and Selected Species segments are also well ahead of last year, and likewise, our non-consolidated joint ventures are coming out of a Q3 with improved performance.”

The company said performance in the quarter was somewhat impacted by challenging biological conditions in the Salmon segment which led to lower sales volumes in Norway.

That has led BioMar to narrow its full-year 2025 revenue guidance to DKK 16.3-16.7bn from DKK 16.3-17.0bn and the EBITDA guidance to DKK 1.490-1.530bn, from DKK 1.490-1.570bn.

“Although, we are witnessing good business results, we do no longer expect to meet the high end of our previous guidance,” said Diaz.