AKER BIOMARINE 26 April 2024 :Aker BioMarine ASA ("Aker BioMarine " or "the company") reports revenues ofUSD 78.3 million , up fromUSD 69.1 million last year. Adjusted EBITDA wasUSD 15.2 million , up fromUSD 6.0 million same quarter last year. Highlights first quarter: o Revenue ofUSD 78.3 million in the quarter, up 13% fromUSD 69.1 YoY o Adjusted EBITDA ofUSD 15.2 million , up fromUSD 6.0 million YoY o The Adjusted EBITDA margin was 19% compared to 9% in the same quarter last year o Qrill Aqua sales increased by 33% and Superba krill oil sales increased by 11% YoY o Krill offshore production volume of 21,306 MT, up 7% (19,852 MT) o The drone was commissioned on the harvesting ground with proven ability to identify krill o Korean FDA awarded an additional health claim for skin health to Superba Krill Oil o The company has launched its new algae oil brand, FloraMarine o The company announced a strategic review for the Feed Ingredients business. oAker BioMarine won the Norwegian Export Prize 2024Aker BioMarine completed a company restructuring end of 2023 and has changed its reporting format according to new business segments starting in Q1 2024. The previous two segments (Ingredients and Brands) have been deconsolidated into four new segments; Feed Ingredients, Human Health Ingredients,Consumer Health Products and Emerging Businesses. "I am impressed by the dedication and skill our team has shown during this restructuring phase. The new operational structure is proving its merit, with each business unit displaying sharper operational and strategic focus. The company continue to demonstrate strong growth, evidenced by a 13% increase in revenues year-over-year. Sales in both theFeed Ingredients and Human Health Ingredients segments continues to develop well, while theConsumer Health Products segment had bit of a softer quarter.", saidMatts Johansen , CEO ofAker BioMarine For Feed Ingredients, the revenue growth was driven by both higher Qrill Aqua prices and volume. Additionally, the company won a new contract for Qrill Pet positively impacting both volume and price for the segment as whole. Overall, market sentiment remains strong for our Qrill products. The increase in revenue resulted in improved EBITDA, which also was positively impacted by a change in offshore cost allocation. Offshore production volume has developed well so far this year, with first quarter production in Q1 up 7% YoY and YTD production up 10%. The drone has been used to identify krill, supporting offshore operations. In Human Health Ingredients, the turnaround plan that was launched in 2022 is yielding results and US showed strong growth in the quarter and so did most other regions. Revenue grew 13% and EBITDA margin improved compared to last year on higher revenues and gross margins. ConsumerHealth Products delivered lower revenues on a stable gross margin, which resulted in lower EBITDA on a relatively fixed SG&A base. First quarter last year had significant promotional activity from one of the clubs that drove sales. Please see the company's IR pages for a spreadsheet with financial statements and segment breakdown. At09:00 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 contactChristopher 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. AboutAker 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 ofAntarctica .Aker BioMarine is listed onOslo Stock Exchange (AKBM). More information is available at www.akerbiomarine.com.
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