BioMar Group’s revenue was up 12% in 2017, boosted by significant capacity expansion in Norway and the acquisition of Ecuador-based shrimp feed producer Alimentsa.
The Danish Group saw revenue of DKK9,955m in 2017 compared to DKK8,867m in 2016, while EBIT was DKK559, a slight drop on 2016’s total of DKK581, but above expectations.
The Group said expansion into new markets and an increased focus on innovation and sustainability was a driving factor for its growth. Carlos Diaz, CEO of BioMar Group explained: “It has been a busy, but encouraging year. We accomplished our first full year with operations in Turkey and China, and we completed the acquisition of Alimentsa in Ecuador to complement our presence in the shrimp segment, together with our factory in Costa Rica.
“On top of this we initiated our factory project in Australia, started the biggest fish feed line in the world and began operations of our new LNG vessel in Norway, reinforcing our state-of-the-art technology and fleet.
“And finally we started the construction of our trial facility in Ecuador to supplement the ATC network together with lots of interesting product concepts launched in our different markets. Everywhere I have seen an amazing dedication to innovating aquaculture.”
