1 November 2023: Aker BioMarine ASA (“Aker BioMarine” or “the company”) reports solid revenue and EBITDA growth in the quarter compared to same period last year.
Highlights third quarter:
- Revenue of USD 94.6 million, up 39% from USD 67.9 million in the same quarter last year
- Adjusted EBITDA of USD 24.9 million, up 32% from USD 18.8 million same quarter last year
- Krill offshore production volumes of 12,073 MT (12,737 MT) – vessels currently at shipyard for annual maintenance
- Qrill Aqua and Superba with 46% and 51% revenue growth respectively, margin impacted by low Superba production and higher fuel cost
- Superba re-launched in South Korea, sales developing above TV channel’s expectations
- Net sales in the Brands segment were USD 31.1 million for the quarter, up 14% from the same period last year, driven by Lang
“Aker BioMarine delivers year-over-year revenue growth for the fifth quarter in a row. Our krill meal sales have exceeded production levels over the past 12 months for the first time since we took delivery of the new harvesting vessel “Antarctic Endurance”. Big thanks to our dedicated sales team for boosting demand for this product by over 50% in less than two years. Sales of Superba, our krill oil product, is also on the rise in most markets.”, said Matts Johansen, CEO of Aker BioMarine.
Outlook
For fourth quarter 2023 we expect Qrill Aqua revenues to be on par with the same quarter last year. For Superba and Brands revenues, we expect this to be above same quarter last year.
We expect long-term average annual sales growth for Aker BioMarine to be in line with earlier communicated ambitions at around 15%.
The new segment reporting is on track to be in place by Q1 2024. In the appendix of this quarterly presentation, certain financial figures related to the new segment reporting are included.
At 09:00 CET today, the management hosts a webcast. Following the presentation, there will be a Q&A session, where written questions can be submitted to ir@akerbiomarine.com.
The webcasted presentation will be in English. To join, please use the link that is available at www.akerbiomarine.com/investor.
A replay of the presentation and Q&A session material will be made available soon after the presentation at the same web address.
For further information, please contact
Christopher Robin Vinter, VP IR & Corporate Finance
Mobile: +47 911 60 820
Email: Christopher.vinter@akerbiomarine.com
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.
About Aker BioMarine
Aker BioMarine is a leading biotech innovator and Antarctic krill-harvesting company developing krill-derived products for consumer health and wellness as well as animal nutrition. The company has a strong position in its industry and is the world's leading supplier of krill, the natural, powerful and health promoting source of nutrients from the pristine waters of Antarctica. Aker BioMarine is listed on Oslo Stock Exchange (AKBM). More information is available at www.akerbiomarine.com.