Aker BioMarine earnings sharply up
Krill harvesting company Aker BioMarine has said earnings and growth for the first quarter of 2024 were signficantly up, year-on-year.
The operating results before depreciation and amortisation (EBITDA) came to US $15.2m (£12.1m) against US $6m a year ago.
The Q1 operating income rose from $68.1m (£53m) to $78.3m (£62.5m) , a rise of 13%.
The ordinary operating loss came in at minus $5.6m (£4.47m) compared to a loss of $9.4m (£7.5m) in Q1 2023.
Aker BioMarine CEO Matts Johansen said the production volume of krill came in at 21,306 tonnes, up from 19,852 tonnes in the first quarter last year.
He added: “Our new operating structure shows its value, with a sharper operational and strategic focus for each division.
The company continues to show strong growth, which is confirmed by a 13% increase in revenues year on year.
“Sales for both Feed Ingredients and Human Health Ingredients continue to develop well, while the Consumer Health segment had a slightly weaker quarter.”
Aker BioMarine said that if the start of the year has been weak for consumer health, the company characterized general demand as good.
It added: “The US private label market follows the positive trends in the health ingredients market with a general increased focus among retailers on private label offerings to compete with the growing e-commerce market. Growth will be driven by innovation of private label products across the major US retailers. New product categories and new retailers are the most important drivers for future growth.”
