BioMar starts 2017 off strong with salmon business success, new partnership
BioMar Group delivered strong first quarter results for 2017, with steady operational performance across divisions boosting volumes and profits, the company announced.
The company has kicked off 2017 with improved sales and a stronger EBIT compared to the same quarter in 2016, with BioMar’s Salmon Division sales volumes climbing almost 30 percent higher than Q1 last year. Furthermore, all country units within the Salmon Division – Norway, United Kingdom and Chile – were reported to be performing better, said BioMar.
“We have across the divisions seen very good results from our efficiency improvement programs and our margin management. But most important we have been able to be at the market at the right time with new product concepts targeted at strengthening the sustainability of the industry as well as the quality and health dimension of the products delivered to the end-consumer,” said Carlos Diaz, CEO of BioMar Group, in the earnings report.
The company is looking forward to its ensuing work with Lerøy Seafood Group and TerraVia – a partnership incepted “to ensure that all salmon farmed by Lerøy Seafood will benefit from a sustainable high level of Omega 3-DHA in the feed partly deriving from the microalgae ingredient, AlgaPrime.”
“In BioMar Group we are continuously working to take the next steps in innovating aquaculture. To us novel oils and product with a measured sustainability profile is not a future vision. It is a reality. We have right now a range of salmon customers delivering new product value propositions based upon our feed concepts. We hope very soon other species could join this trend. We live our purpose, and our guiding principles are innovation, sustainability, cooperation and performance, so the initiatives launched with our customers around the globe are in line with our strategy. We are confident that we are well prepared for the enhancing the efficiency and sustainability of the industry,” said Diaz.
Alongside the release of new products, BioMar has launched the construction of a new feed factory in Australia, “establishing a solid platform for close cooperation with the customers in the region,” said the company.
“We have during 2016 and the first part of 2017 been cooperating across the company improving and developing our new units in Turkey and China. We will continue this effort while investing resources in building up a new business unit in Australia. These expansions are in line with our strategy into new species and markets,” Diaz said.