Biomar Group A/s · OMXCOP:BIOMAR
Biomar Group A/s — Q3 2026 Earnings Presentation
20 slides from Biomar Group A/s's earnings presentation, Nov 3, 2026
Slide 1: Q3 2026 Results Conference Call
Q3 2026 Results Conference Call BioMar Group A/S 3 November 2026
Slide 2: Disclaimer
Disclaimer This presentation may contain forward-looking statements about future events. Forward-looking statements are statements (other than statements of historical fact) relating to future events and BioMar’s anticipated or planned financial and operational performance. The words “may”, “will”,
Slide 3: Agenda
BioMar Group | Q3 2026 Results | Conference Call Agenda 01 BioMar in Brief 02 Financial Highlights 03 Business Review 04 Guidance 3
Slide 4: Today's presenters
Today’s presenters Carlos Diaz Claus Eskildsen Chief Executive Officer Chief Financial Officer 4
Slide 5: Purpose: efficient and sustainable global aquaculture
BIOMAR IN BRIEF Purpose We are innovators dedicated to an efficient and sustainable global aquaculture 5
Slide 6: Attractive industry tackled with resilient business model
BIOMAR IN BRIEF Attractive industry tackled with resilient business model We operate in an attractive and … which we address with our strong growing industry … and resilient business model Global aquafeed market (high-value) BioMar’s compelling equity story ~22m tonnes1 EUR ~25 bn1 Global #3 high-va
Slide 7: Key highlights in Q3 2026
FINANCIAL HIGHLIGHTS Key highlights in Q3 2026 Record-high business activity accompanied with exceptional earnings and return on 1 invested capital Feed business continues to deliver strong growth momentum with significantly 2 higher margins Strong Salmon and Selected Species earnings more than offs
Slide 8: Strong volume growth and exceptional earnings in Q3
FINANCIAL HIGHLIGHTS Strong volume growth and exceptional earnings in Q3 Volume Revenue EBIT ROIC (‘000 tonnes) (DKKm) (DKKm) (incl. GW) +5% +19% +50% +5.2%p 466 488 4,898 5,807 618 27.1% 411 21.9% Q3 25 Q3 26 Q3 25 Q3 26 Q3 25 Q3 26 +5% +7% +24% 1,142 1,198 12,270 13,172 785 977 YTD YTD Q3 25 Q3 26
Slide 9: Exceptional earnings driven by margins
FINANCIAL HIGHLIGHTS Exceptional earnings driven by margins Growth HIGHLIGHTS Profit & loss DKKm Q3 2026 Q3 2025 y/y EBIT bridge DKKm 4,898 19% • Exceptional EBIT performance driven Revenue 5,807 mainly by very strong margin development EBIT Q3 2025 411 Cost of sales -4,366 -3,822 14% more than offs
Slide 10: Strong cash flow and ROIC generation
FINANCIAL HIGHLIGHTS Strong cash flow and ROIC generation HIGHLIGHTS Working capital & NIBD DKKm Q3 2026 Net working capital % of revenue Q3 2025 • Continued strong ROIC development 11% 12% mainly driven by higher LTM earnings Total inventories 2,793 2,200 10% 9% 7% • Despite an increase in sales vo
Slide 11: Market update
BUSINESS REVIEW BUSINESS REVIEW Market update • Aquaculture market fundamentals remain supportive across key species and geographies • Overall, good biological conditions continue to support production growth so far, but impact of El Niño is looming in key markets (e.g. Ecuador, Chile) • Very strong
Slide 12: No compromise on nutrition. Reduce dependency
BUSINESS REVIEW No compromise on nutrition. Reduce dependency Maintain optimal nutrition Reduce dependency on traditional raw materials Oils and proteins are essential for: Diversify the sources of oil and proteins: Health Welfare Robustness Circular/ Algal Plant Microbial Bi-products Nutrition and
Slide 13: More than a decade of action on microalgae
BUSINESS REVIEW More than a decade of action on microalgae We acted before the industry asked | The Microalgae Experience MARINE FOOD-WEB ROUTE Microalgae Aquafeed Ω- 3 Zooplankton Wild fish Fishery Fish oil ALTERNATIVE ROUTE TO OMEGA-3 Ω-3 Fermentation Omega-3-rich ingredient For fish and shrimp 20
Slide 14: Salmon
BUSINESS REVIEW Salmon Growth Profit & loss DKKm Q3 2026 Q3 2025 y/y Volumes ‘000 tonnes Volume ('000 tonnes) 305 294 4% +4% 294 305 Revenue 4,017 3,368 19% 249 EBITDA 599 343 75% 210 173 EBIT 518 276 88% EBIT margin 12.9% 8.2% 4.7%p. ROIC 42.4% 31.7% 10.7%p. Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 Highlights
Slide 15: Shrimp
BUSINESS REVIEW Shrimp Growth Profit & loss DKKm Q3 2026 Q3 2025 y/y Volumes ‘000 tonnes Volume ('000 tonnes) 98 91 7% +7% 663 568 17% 112 Revenue 103 99 98 91 EBITDA 37 56 -34% EBIT 20 41 -51% EBIT margin 3.0% 7.1% -4.1%p. ROIC 13.4% 12.8% 0.6%p. Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 Highlights EBIT • Desp
Slide 16: Selected Species
BUSINESS REVIEW Selected Species Growth Profit & loss DKKm Q3 2026 Q3 2025 y/y Volumes ‘000 tonnes Volume ('000 tonnes) 87 82 7% +7% 87 Revenue 1,097 933 18% 82 74 64 EBITDA 117 107 9% 43 EBIT 107 98 9% EBIT margin 9.7% 10.5% -0.8%p. ROIC 33.1% 26.1% 7%p. Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 Highlights EBI
Slide 17: Tech Solutions
BUSINESS REVIEW Tech Solutions Q3 2026 Q3 2025 Growth Profit & loss DKKm y/y Revenue DKKm Revenue 63 59 7% 63 EBITDA 22 25 -14% 59 EBIT 19 23 -19% 36 EBIT margin 30.1% 39.9% -9.8%p. 27 14 ROIC 5.3% 33.9% -28.7%p. Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 Highlights EBIT • Transformation of business model toward
Slide 18: 2026 guidance raised on revenue and EBIT
GUIDANCE 2026 guidance raised on revenue and EBIT Volume (‘000 tonnes) Revenue (DKKm) Capital and dividend policy -40 Reasons for softening +700 Reasons for raising guidance guidance 1,630-1,700 1,600-1,650 17,000-18,000 17,800-18,600 • Overall, good biological • Lower than expected conditions, but
Slide 19: Q&A
Q&A
Slide 20: Thank You
Th a n k Yo u F o r f u r t h e r i n f o r m a t i o n , p l e a s e vi s i t w w w . b i o m a r . c o m