COMPANY

BioMar delivers continued high-volume growth and solid earning in Q3 2025

Denmark, 17 November 2025 |

Carlos Díaz, CEO de Grupo BioMarBioMar's CEO Carlos Díaz

BioMar Group reported strong results for the third quarter of 2025 (Q3 2025), delivering record operating earnings and continued growth in feed volumes as the company moved through its peak season. According to the company, volumes increased by 9% year on year in the quarter, while EBITDA rose by 10%, reaching an all-time high for a third quarter. Growth was driven mainly by positive developments in Chile and Ecuador, offset in part by adverse biological conditions affecting volumes in Norway.

The company said the performance extends the momentum seen in the second quarter and places BioMar well ahead of last year’s results. With only a few months remaining in 2025, CEO Carlos Díaz said he expected the company to close “another good year for BioMar,” highlighting solid margins and continued progress on strategic objectives. He noted improvements across the Tech, Shrimp and Selected Species segments, as well as stronger performance from non-consolidated joint ventures.

BioMar reported a Return on Invested Capital (including goodwill) of 21.9%, reflecting the improvement in operating earnings. However, the Salmon segment continued to face challenges due to biological conditions in Norway. Díaz said these issues had influenced feeding patterns and biomass development, prompting the company to narrow its revenue and EBITDA guidance for the full year. “Although we are witnessing good business results, we do no longer expect to meet the high end of our previous guidance,” he said.

BioMar has slightly lowered its financial expectations for the full year 2025. The company now believes its total revenue will end up between DKK 16.3 and 16.7 billion, which is a narrower and slightly lower range than previously forecast (which went up to DKK 17.0 billion). This adjustment is mainly because BioMar is selling less feed in Norway than expected due to biological challenges affecting salmon farming.

For profitability, BioMar has also narrowed its EBITDA forecast to DKK 1,490–1,530 million, instead of the earlier, wider range that reached DKK 1,570 million. Again, the reduction reflects the lower sales volumes in Norway.

During the quarter, BioMar also continued its evaluation of a potential IPO, a process supported by a syndicate of four financial institutions. In preparation for a possible listing, the company will expand its board of directors with two new members bringing additional financial, capital markets and industry expertise.

Marianne Rørslev Bock, a state-authorised public accountant and current CFO of Scandinavian Tobacco Group, will join the board. She also serves on the board of Dagrofa and is Vice Chair of the Danish Financial Supervisory Authority, with previous senior roles at Brdr. Hartmann and Danisco.

Kristian Johnsen Hundebøll will also join the board. He sits on the boards of Danmarks Nationalbank and DLF and chairs a Danish government-appointed growth team for green agriculture, food production and bio-solutions. His background includes 12 years as CEO of DLG and earlier leadership roles in sector organisations including DAKOFO and Intercoop.

Schouw & Co. CEO Jens Bjerg Sørensen will remain chairman of BioMar’s board. In parallel with the board changes, BioMar confirmed that its CFO, Claus Eskildsen, will join the company’s executive management as a registered member.