The company showed and increase to its earnings before interest, taxes, depreciation, and amortization (EBITDA) of 26%, year on year.
Danish fish feed giant BioMar has recorded record results for the year 2023, despite volumes and revenue flatlining.
In its Q4 2023 results released on Friday 1 March, the company showed and increase to its earnings before interest, taxes, depreciation, and amortization (EBITDA) of 26%, year on year.
The company’s revenue in 2023 remained at the same level as the previous year, achieved on a slightly lower sales volume.
The feed producer achieved a volume of 1.6 million tons, a turnover of DKK 20 billion ($2.9 billion), and an EBITDA of DKK 1.4 billion ($203 million).
CEO Carlos Diaz expressed satisfaction with the company’s performance, highlighting the optimization of their product portfolio and concepts, as well as improvements in commercial activities both upstream and downstream.
“The results have been driven by our efforts in positioning ourselves as value creators for customers as well as suppliers,” said Diaz.
“To us, it is becoming increasingly important to create partnerships with suppliers of novel raw materials as well as forward-looking customers who believe in building long-term business relationships instead of a transactional value chain. It is only possible to change the future if we together share an ambition of a sustainable and efficient aquaculture.”
Diaz mentioned that this stability in volumes was a result of their commercial positioning, focusing on building long-term product collaborations with core customers.
