November 21, 2023 - BioMar is coming out of the third quarter with a 5 percent increase in volumes year-on-year. The increase in volumes, combined with a strong product strategy, is driving up results. Being almost through 2023, BioMar raises expectations for EBITDA for the full year, driven by the operational results.
![](https://www.aquafeed.co.uk/wp-content/uploads/2023/11/biomar-q3-2023-1.png)
Across the division, BioMar shows solid results in the third quarter of 2023. The quarterly reporting reveals that the business is ready to deliver on all-time-high volumes and EBITDA for the year. However, the expectation to the full-year revenue is reduced due to lower raw material prices in several categories.
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"So far, we have experienced a very satisfying 2023. Building upon a solid first half year, we have accelerated our sales and improved the results, mainly due to our focus on developing the product offerings in the markets. We are looking at a very strong product pipeline with new concepts such as Blue Impact," explains CEO Carlos Diaz.
"Based on the good momentum and solid outlook, we raise the full-year EBITDA expectations for 2023 to a 1, 150-1, 190 million range from previously DKK 1, 080-1, 150 million. This will be a record result in the history of BioMar. I am proud of the engagement from our employees across the globe, which form the basis for turning a challenging year with volatile raw material prices into a success for BioMar and our customers", concludes Carlos Diaz.
"On top of the strong growth in our consolidated companies, I am proud to see that our JV feed companies are contributing significantly to the result of the group. Both in China and Turkey, we are in a good market position, and we have managed to increase volumes sold significantly. This enables us to be more efficient and brings us in a position where we can invest in building new products and open new market segments. I am confident, that we are entering into a positive cycle", concludes Carlos Diaz
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