AKER BIOMARINE 14 February 2024 :Aker BioMarine ASA ("Aker BioMarine " or "the company") reports revenues ofUSD 82.9 million , up fromUSD 79.0 million last year. Adjusted EBITDA wasUSD 17.6 million , down fromUSD 20.7 million same quarter last year. Highlights fourth quarter: - A year of strong revenue growth - Fourth quarter revenues ofUSD 82.9 million , up 5% YoY - 2023 revenues ofUSD 335.2 million , up 21% YoY - Ingredients EBITDA adj. ofUSD 19.3 million (USD 16.2 million ) - Brands EBITDA adj ofUSD -0.1 million (USD 2.2 million ) - Group EBITDA ofUSD 17.6 million (USD 20.7 million ) - Offshore production impacted by few harvesting days - Extended shipyard time for two vessels undergoing five-year class audit - 50,650 MT for the full year, 3% below 2022 - USV successfully deployed at harvesting grounds early January "Aker BioMarine delivered the highest organic growth in the history of the company in 2023, with an impressive 21% revenue growth. This includes strong performance across Qrill, Superba and Lang businesses. Group margins have through the year been impacted by higher fuel prices and lower Superba production. Ramping upHouston production of krill oil to normal capacity and increasing Qrill prices will be supportive of margins going forward.", saidMatts Johansen , CEO ofAker BioMarine . Outlook Feed Ingredients - Qrill Aqua's prices expected to benefit from a favourable marine ingredient market. Contracted sales of raw materials to Human Health Ingredients at premium prices will impact the product mix positively. - Over time, offshore production is expected to exceed 60,000 MT with the USV drone now deployed - YTD 13 February production at 11,450 MT, 15% higher than same period last year. Human Health Ingredients - Superba sales is expected to grow across most sales regions at stable prices only affected by product mix. Several Asian markets are expected to demonstrate high annual sales growth over the next years. - Based on increased Superba sales, the production at theHouston facility will ramp up and drive a gradual margin improvement throughout the year with full effect expected from 2025 onwards. ConsumerHealth Products : - Growth will be driven by private label product innovation across the major US retailers. New product categories and new retailers are key drivers for future growth. Investments - All major capital projects completed, and 2024 capital expenditures will be related to maintenance and smaller improvement projects totalingUSD 15-20 million . 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.
Click here for more information
© Oslo Bors ASA, source
