Aker BioMarine revenues up 6%
The Atlantic krill harvesting company Aker BioMarine has unveiled a 6% increase in its second quarter revenues to US $94 million (£73m).
The adjusted EBITDA or operating profit increased by 35% year on year to US $29 million (£22m).
Aker BioMarine announced three weeks ago that it had entered into an agreement with the US buyout fund American Industrial Partners to sell ownership in its feed ingredients business. The deal is based on an enterprise valuation of US $590m (£463m).
The acquiring party will be a newly established company, as yet unnamed, owned 60% by American Industrial Partners and 40% by Aker Capital.
Commenting on the latest results, CEO Matts Johansen said: “After the transaction with feed ingredients, Aker BioMarine will focus on human nutrition, especially the large and growing Omega-3 market.
“We aim to increase our market share and expand our product categories through innovation. In parallel, we will continue to explore how we can drive shareholder value by enabling potential partnerships and transactions for each of the remaining business units.”
Human Health Ingredients delivered solid revenue growth of 22%, with revenues from krill oil equivalent products up 7% year-over-year.
The company said this revenue growth was driven by continued strong development across most regions.
It also said margins for the quarter were impacted by customer mix in Superba and a high share of lower-margin products such as PL+, Algae Oil, and QHP.
Consumer Health Products delivered lower revenues on a stable gross margin, resulting in lower EBITDA on a relatively fixed SG&A base.
