BioMar - Presentation of the Q3 2026 Interim Report

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BioMar is expected to release its interim report for the first nine months of 2026 on 3 November 2026. The same day at 14:00 CET, BioMar's CEO, Carlos Diaz, will present the results and answer questions from the audience in a live online event.

In Q2 2026, BioMar delivered record feed volumes of 395,000 tonnes, up 3% year on year, and revenue of DKK 4,164m, up 5%. EBIT declined 3% to DKK 250m with a margin of 6.0%, reflecting higher raw material prices, the planned transformation in Tech Solutions and IPO costs, while underlying feed EBIT grew 7%.

On the back of the report, management raised full-year guidance to volumes of 1,630-1,700 thousand tonnes, revenue of DKK 17.0-18.0 billion and EBIT of DKK 1,200-1,300m, with CAPEX of DKK 400-500m.

Measured against 2025, the raised guidance implies volume growth of 5-9%, revenue growth of 3-9% and EBIT growth of 6-15%, with an implied EBIT margin of 6.7-7.6% versus 6.8% in 2025. Over the medium term towards 2030, BioMar targets average annual volume growth of 4-6%, EBIT growth of 8-10%, ROIC above 20% and a dividend payout of at least 50% of net profit.

Focus besides the financial results is likely to centre on the commissioning of the first phase of the Ecuador expansion, around 110,000 tonnes of capacity expected at the end of the year, salmon volumes and biological conditions in Norway and Chile, the normalisation of Tech Solutions, and BioMar's ability to pass through rising marine raw material prices, and whether the raised full-year guidance leaves room for further upside.

Disclaimer: HC Andersen Capital receives payment from BioMar for a Corporate Visibility/Digital IR subscription agreement. /Michael Friis, 13.03 08/10-2026.