BioMar (BIOMAR) Q2 2026 earnings summary

Executive summary

• Q2 volumes reached a record 395k tonnes, up 3%; EBITDA rose 2% to DKK 357m, while EBIT fell 3% to DKK 250m.

• Feed volumes rose 3% in Q2 and 5% in H1; feed EBIT increased 7% and 10%, respectively, with shrimp growth a key driver.

• FY 2026 volume, revenue, EBIT and capex guidance increased; IPO and Tech Solutions transition costs weighed on reported results.

Financial highlights

• Q2 revenue rose 5% to DKK 4,164m; EBITDA was DKK 357m (+2%), EBIT DKK 250m (-3%) and profit DKK 158m versus DKK 178m.

• H1 revenue was DKK 7,365m, flat YoY; EBITDA was DKK 569m (+3%), EBIT DKK 359m (-4%) and profit DKK 214m versus DKK 248m.

• Q2 revenue benefited from a DKK 93m FX impact; H1 FX impact was negative DKK 15m on revenue and DKK 3m on EBIT.

• IPO-related costs were DKK 23m in H1, including DKK 18m in Q2; higher Tech Solutions transition costs also affected EBIT.

Outlook and guidance

• FY 2026 volume guidance rose to 1,630–1,700k tonnes from 1,600–1,670k tonnes; revenue guidance increased to DKK 17–18bn from DKK 16–17bn.

• FY 2026 EBIT guidance rose to DKK 1,200–1,300m from DKK 1,100–1,200m; capex guidance narrowed to DKK 400–500m from DKK 300–500m.

• Higher guidance reflects salmon contracts, shrimp growth, Selected Species growth, improved mix, raw-material management and current FX; higher capex reflects Ecuador expansion execution.

• Biological conditions, weather and disease remain risks to output; expected 2026 profit from associates and JVs fell to DKK 65m from DKK 90m, mainly on lower salmon prices affecting Salmones Austral.