Aktieselskabet Schouw & Co.

BioMar preliminary financial outlook for 2026 and mid-term targets

BioMar preliminary financial outlook for 2026 and mid-term targets

On 12 November 2024, the Board of Directors of Schouw & Co. announced the initiation of an evaluation regarding a potential separate listing of BioMar. The objective of this assessment is to determine whether such a listing would generate added value for Schouw & Co. and its shareholders, while simultaneously ensuring that BioMar is well positioned to pursue opportunities for continued growth.

The evaluation is progressing as expected. Schouw & Co. is assisted by a syndicate comprising four financial institutions: DNB Carnegie and Morgan Stanley as Lead Joint Global Coordinators, and Danske Bank and Nordea as Joint Global Coordinators. FIH Partners acts as independent IPO advisor to Schouw & Co. and BioMar.

As part of the preparation towards a potential separate listing of BioMar on Nasdaq Copenhagen, which could take place in the first half of 2026, the Board of Directors of Schouw & Co. has evaluated BioMar’s short-term and mid-term outlook and has decided to disclose selected preliminary information.

'Towards 2030, BioMar aims to achieve a volume growth of an average of 4-6% per annum while EBIT is targeted to grow at an average rate of 8-10% per annum. ROIC incl. goodwill is targeted to be above 20%.

As a potentially independently listed company, BioMar targets a capital structure in the range of 1.0-2.0 times net interest-bearing debt to EBITDA and a dividend policy aiming for a payout of at least 50% of annual net profit.

All the above-mentioned figures are preliminary and subject to change. Schouw & Co. releases its annual report for 2025 on 5 March 2026, in which the outlook for Schouw & Co. and the remaining portfolio companies will be disclosed.

Aktieselskabet Schouw & Co.

Jørgen Dencker Wisborg, Chairman
Jens Bjerg Sørensen, President, tel. +45 8611 22 22

Attachment

• 2025-12-01 FBM25-55 BioMar guidance ENG