BioMar Raises 2026 Revenue Guidance to 18.6 Billion Kroner and Narrows Volume Range
Key Facts
BioMar raised its 2026 revenue guidance on November 2 to 17.8–18.6 billion Danish kroner and set earnings before interest and taxes at 1,290–1,360 million kroner, according to the company’s guidance page. The update reflects a mixed trend across annual indicators: the revenue and operating profit ranges are above August guidance, while the sales volume range narrowed to 1.60–1.65 million tonnes. The company had raised its forecasts in August, making the November adjustment a fresh revision to its annual estimates ahead of its third-quarter results. BioMar is scheduled to publish the report on November 3. It also scheduled a webcast and investor call for the same day at 10:00 Central European Time.
In its August guidance, BioMar forecast revenue of 17–18 billion kroner, compared with a previous range of 16–17 billion, and earnings before interest and taxes of 1,200–1,300 million kroner, versus 1,100–1,200 million. In the November update, the revenue range rose to 17.8–18.6 billion kroner, while the operating profit range moved to 1,290–1,360 million. As for volumes, the company had raised its August forecast to 1.63–1.70 million tonnes from 1.60–1.67 million tonnes. November’s range of 1.60–1.65 million tonnes puts the upper end below August’s level and lowers the bottom end from its previous range. The guidance therefore shows higher expected revenue and profit alongside a volume range below the previous estimate.
BioMar attributed its higher volume forecast in August to good biological conditions and stronger-than-expected growth, including in salmon, selected species and shrimp. It also linked this to contract gains and new customers in the salmon segment. On revenue, the company said higher raw material prices, particularly marine ingredients, and prevailing exchange rates supported its outlook at the time. It added that exchange rate changes could materially affect its revenue estimates. These factors were cited in the August announcement, while the company’s general guidance notes that changing market conditions and volatility in raw material prices and exchange rates could significantly affect its revenue forecast.
First-half results provide a picture of business performance before the guidance update, with revenue of 7,365 million Danish kroner, compared with 7,372 million in the first half of 2025. Earnings before interest and taxes were 359 million kroner, versus 374 million in the corresponding period. In the second quarter alone, sales volumes rose to 395,000 tonnes from 382,000, and revenue increased to 4,164 million kroner from 3,973 million. But second-quarter earnings before interest and taxes fell to 250 million kroner from 257 million. The margin on those earnings declined to 6.0% from 6.5%, a drop the company attributed mainly to higher raw material prices.
BioMar said second-quarter revenue growth of 5% year on year was driven mainly by volume growth and raw material prices, with the increase in volumes coming primarily from the shrimp segment. In the first half, feed volumes rose 5% year on year, and earnings before interest and taxes in feed units increased 10%. By contrast, profits in the technical solutions segment declined as expected. The company said strong operating performance in feed segments was affected by the transition in the technology segment, as well as costs related to the IPO and efficiency projects. In its first-half report, Chief Executive Carlos Diaz said marine raw material prices would reach record levels, attributing this mainly to lower fishing quotas in Peru.
BioMar says long-term demand for farmed fish and shrimp feed is healthy and generally growing, while short-term demand may be affected by changing market conditions and fish and shrimp selling prices. The third-quarter report, due on November 3, will be published one day after the guidance update and is expected to present results for the next period in the fiscal year. The company will hold a webcast and investor call at 10:00 Central European Time on the same day. The upcoming report will give investors a view of actual performance after the annual volume range was revised. The next report will also provide the company’s latest figures for the period before the end of the fiscal year.