Biomar Q4 results show impact of global increase in raw material prices, logistic costs, and energy prices.
On Friday, feed manufacture BioMar released its Q4 results for 2021. The company ended the year with a slight decline in EBITDA compared to 2020, while revenue grow by 14 per cent and volume also increased by 8 per cent for the consolidated companies.
While revenue reached an all-time high level for the feed manufacturer, with an increase of 33 per cent, bottom-line results were affected by the global increase in raw material prices, logistic costs, and energy prices.
Carlos Diaz CEO BioMar Group, explained, “I am very satisfied by the performance of the company despite the results not following the development of the top line. We along with all other feed producers are challenged by a situation no one has even seen before. Energy prices has been going through the roof, raw material prices have increased significantly, and logistic costs are at level we have never seen.”
“We are working with our customers to find sustainable commercial solutions going forward and we will probably need to look into a new generation of contracts where the volatility of the markets is taken into account to ensure an optimal pricing structure for our customers”, concludes Carlos Diaz