Denmark-based aquaculture feed company BioMar’s sales volumes and revenue both increased in Q2 2026, and the company is raising its guidance for its expected full-year results.
BioMar sold 395,000 metric tons (MT) of product in Q2 2026, up from the 382,000 MT it sold in the same period of 2025. Its revenue also increased, rising to DKK 4.16 billion (USD 641.5 million, EUR 566.5 million) from DKK 3.97 billion (USD 612.2 million, EUR 531.1 million) the year prior.
Earnings, however, took a slight hit. Its EBIT for Q2 2026 dropped to DKK 250 million (USD 38.5 million, EUR 33.4 million) from DKK 257 million (USD 39.6 million, EUR 34.4 million).
Year to date, BioMar has sold 710,000 MT of product, up from 676,000 MT of product in the same period of 2025. Its sales revenue has remained nearly flat at DKK 7.36 billion (USD 1.13 billion, EUR 984 million) in the first half of 2026, down from DKK 7.37 billion (USD 1.14 billion, EUR 985 million) in the same period of 2025. Its EBIT in the period dropped to DKK 359 million (USD 55.4 million, EUR 48 million), down from DKK 374 million (USD 57.7 million, EUR 50 million).
BioMar Group CEO Carlos Diaz said the quarter was marked by increased costs related to strategic developments of its technology business and the now-completed IPO that it kicked off in the first quarter of the year.
“I am proud to see how our business continues to perform, delivering a strong ROIC of 23.2 percent,” Diaz said. “With a solid Q2, we have taken an important step into the high season, where our ability to formulate based on nutrients rather than specific raw materials will be put to the test. There is no longer any doubt that prices of marine raw materials will reach record-high levels, reinforcing the relevance of our advanced formulation capabilities.”
Diaz said the company has focused on raw material substitution, which has helped it during a period when raw materials are in tight supply. Major sources of feed ingredients like the Peruvian anchovy fishery have been impacted by a coastal El Niño weather event, limiting raw material sources and making the company’s focus on innovation a boon.
“This enables us to continue delivering robust performance across our feed segments, with volume and earnings growth, while helping to mitigate the impact of market turbulence for our customers,” Diaz said.
The company said that the majority of its volume growth came from shrimp, while the higher revenue and increased earnings came form salmon and “selected species segments” due to changes in the company’s product mix.
“It is encouraging to see the continued progress in transforming our aquaculture technology solutions business model into a structure based on recurring revenue and reduced dependence on distributors while also investing to strengthen our future R&D capabilities,” Diaz said. “At the same time, we are well underway with expanding capacity to support organic growth in the feed business in Ecuador and China. In many ways, this year represents a transition toward further growth, and I remain confident that we will once again deliver strong results while navigating a turbulent business environment.”
With the solid Q2 2026 performance and the company’s forecasts of the markets, the company increased its guidance across multiple metrics. It boosted its volume guidance from between 1.6 million MT and 1.67 million MT, raising it to a range between 1.63 million MT and 1.7 million MT. Revenue similarly increased, going from a range of between DKK 16 billion and DKK 17 billion (USD 2.47 billion and USD 2.62 billion, EUR 2.14 billion and EUR 2.27 billion) to a range between DKK 17 billion and DKK 18 billion (USD 2.62 billion and USD 2.76 billion, EUR 2.27 billion and EUR 2.41 billion).
EBIT has also been bumped, raised from a range between DKK 1.1 billion and DK 1.2 billion (USD 169.6 million and USD 185 million, EUR 147.1 million and EUR 160.5 million) to a range between DKK 1.2 billion and DKK 1.3 billion (USD 185 million and USD 200.5 million, EUR 147.1 million and EUR 173.9 million).
“Based on our forecasts from the markets, we predicted that favorable biological farming conditions and our proven ability to navigate volatility in the raw material market will create strong momentum for the business in the second half of the year,” Diaz said. “Hence, we have decided to upgrade the guidance for both volumes, revenue and EBIT for the year.”
