Aker BioMarine’s 2006 profit performance accords with the company’s business plan. Aker BioMarine had 2006 operating revenues of NOK 460 million; operating profit before depreciation and amortization (EBITDA) amounted to NOK 26 million, according to pro forma accounts for 2006 as a whole.

- The accounts show the performance of yesterday’s Aker BioMarine. We are well on our way to building a marine biotechnology company that specializes in deliveries of high-value marine ingredients produced in an optimal value chain, spanning from harvesting to customers,” says Aker BioMarine President and CEO Helge Midttun.

The company, which builds on Aker’s strong traditions in the harvesting and processing of marine resources, was established 1 December 2006 to take a leading position in the development of the bio-marine industry. Aker BioMarine’s accounts are pro forma. Figures have been prepared and presented as if the company and its merged entities were all part of the Aker BioMarine Group since 2005.

The pro forma accounts for 2006 as a whole show that Aker BioMarine’s operating revenues were NOK 460 million, up 26 percent compared with NOK 364 million in 2005. EBITDA amounted to NOK 26 million in 2006 and NOK 45 million in 2005.

Aker BioMarine had a 2006 pre-tax loss of NOK 15 million, compared with a loss of NOK 17 million in 2005, according to the pro forma accounts.

- The pro forma figures reflect the fact that the company is in a build-up phase and that costs incurred for our krill activities are as projected,” says Midttun.

In December 2006, Aker BioMarine successfully completed a NOK 1.2 billion share issue; funds are to be applied to further development, primarily targeting the unique krill resource of Antarctic waters.

- Our main focus in 2007 will be on developing sales of high-value products based on Antarctic krill. We will reach our goals by building expertise and a decisive organization, increasing marketing efforts, delivering high-value products, and by securing stable production and distribution for our products,” says Aker BioMarine’s President and CEO Helge Midttun.

For further information, please contact:
Helge Midttun, Aker BioMarine President and CEO, tel: +47 913 35 790