Danish feed group BioMar reported a drop in both revenue and earnings before interest, taxes, depreciation, and amortization (EBITDA) in the first quarter of 2021, largely driven by ongoing challenges in Chile and Ecuador.
Revenue fell 5 percent in the quarter to DKK 2.27 billion (€305.3 million/$367.9 million), while EBITDA dropped 12 percent DKK 140 million (€18.8 million/$22.7 million).
BioMar managed to a large degree to mitigate the coronavirus pandemic’s negative impact on sales, it said, experiencing only a marginal setback in volumes, but foreign exchange developments reduced reported revenue and EBITDA.
