BioMar reports strong Q3 2025 growth but narrows full-year guidance
Record volumes drive earnings growth while Norway’s biological conditions temper outlook
NORWAY – BioMar posted a record third quarter in 2025, achieving its highest quarterly EBITDA to date as demand surged in key markets.
The company reported a 9% increase in volumes year-on-year for Q3, with earnings before interest, taxes, depreciation, and amortization rising by 10%.
Volume growth was mainly supported by strong performance in Chile and Ecuador, while adverse biological conditions limited output in Norway.
Chief Executive Officer Carlos Diaz said the company is on track for another solid year, reflecting robust volume expansion in the third quarter.
Diaz added that BioMar’s earnings benefited from improvements in its Tech segment, as earlier investments in organizational and product development began to contribute to results.
The Shrimp and Selected Species segments also recorded higher volumes than last year, and non-consolidated joint ventures showed improved performance during the quarter.
Return on invested capital rose to 21.9%, indicating efficient use of company resources, although the Salmon segment faced challenges due to unfavorable biological conditions.
Despite strong results, Diaz noted that unexpected conditions in Norway have impacted feeding patterns and biomass, leading to a narrower revenue and EBITDA forecast for the full year.
BioMar adjusted its full-year revenue guidance to US$2.52–2.58 billion from the previous range of US$2.52–2.63 billion, while EBITDA is now expected to reach US$230–236 million, down from US$230–242 million.
The evaluation of a potential initial public offering continued as planned, with support from a four-institution financial syndicate during Q3.
To strengthen governance and prepare for the potential listing, BioMar added two new members to its board, bringing expertise in capital markets, finance, and the agribusiness sector.
Marianne Rørslev Bock, a state-authorized accountant and current CFO of Scandinavian Tobacco Group, joined the board with prior executive experience in listed companies and multiple board roles.
Kristian Johnsen Hundebøll, with leadership roles in national financial institutions and European agricultural organizations, was also appointed to provide strategic and industry insight.
Schouw & Co. CEO Jens Bjerg Sørensen remains chairman of the board, while BioMar’s CFO Claus Eskildsen joins the executive management team as a registered member.
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