Market – March 10, 2025
BioMar’s bottom line soars—even as sales and volumes decline
BioMar reports record profitability in 2024 despite declining volumes.
BioMar has reported its strongest financial performance to date, achieving record profitability in 2024 despite a decline in revenue and volumes. The company’s EBITDA increased by 18% across its consolidated businesses, reflecting a strategic focus on operational efficiencies and portfolio optimisation.
CEO Carlos Diaz attributed the improvement to targeted commercial decisions, stating, “We have driven a meticulous focus on building a strong business, and the increase in profitability is the result of an unwavering strategic focus on optimising our product portfolio, combined with a series of operational excellence measures.”
Full-year revenue declined by 7% to DKK 16.6 billion ($2.4 billion), while consolidated volumes fell by 5% to 1,372 million tonnes. BioMar pointed to biological conditions in Norway and Chile, as well as energy shortages in Ecuador, as factors impacting sales. Additionally, the company steered away from lower-margin contracts and high-risk customers, prioritising long-term value over market share.
The company’s joint ventures in China and Turkey also performed well, reporting non-consolidated revenue of DKK 1.5 billion ($218 million) and an EBITDA of DKK 166 million ($24 million) on a 100% basis.
Looking ahead, BioMar has provided 2025 revenue guidance of DKK 16.0-17.0 billion ($2.36-2.51 billion/€2.11-2.26 billion), with an expected EBITDA in the range of DKK 1,470-1,570 million ($216-229 million/€187-200 million). The company cautioned that market conditions and raw material price volatility could significantly impact forecasts.
