BioMar (BIOMAR) Q2 2026 earnings summary

Executive summary

• Q2 2026 delivered record-high feed volumes and resilient growth, overcoming raw material volatility, geopolitical turbulence, IPO costs, and Tech Solutions restructuring.

• Shrimp feed, especially in Ecuador, was the main growth driver, though lower EBIT per ton resulted from product mix and competition.

• Capacity expansions in Ecuador and China are progressing as planned, supporting future growth.

• Completed IPO on Nasdaq Copenhagen, welcoming over 10,800 new shareholders and establishing a new revolving credit facility.

Financial highlights

• Q2 2026 revenue rose 5% year-over-year to DKK 4,164m, driven by higher volumes and raw material prices.

• EBIT reached DKK 250m, impacted by IPO and Tech Solutions transformation costs; adjusted EBIT would be DKK 280m.

• EBITDA increased 2% to DKK 357m; margin impact from product/customer mix exceeded DKK 90m year-over-year.

• Joint ventures in Turkey and China delivered over 50,000 tons of feed, DKK 506m revenue, and DKK 34m EBIT.

• Net profit for Q2 2026 was DKK 158m, down from DKK 178m in Q2 2025.

Outlook and guidance

• 2026 guidance raised: volume 1,630–1,700k tonnes, EBIT DKK 1,200–1,300m, revenue DKK 17–18bn, and capex DKK 400–500m.

• Guidance reflects strong biological conditions, higher contract share in Salmon, and continued Shrimp momentum.

• Profit from non-consolidated JVs and associates expected at DKK 65m, down from DKK 90m, due to lower salmon prices.