Fourth quarter 2020: Promising new product launches and adjusted EBITDA growth of 2.5x YoY

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By Aker BioMarine, February 16, 2021

 

Aker BioMarine today announces its results for the fourth quarter 2020.

Fourth quarter highlights:

- Revenues of USD 75.5 million (USD 71.9 million in the corresponding period last year)

- Adjusted EBITDA of USD 21.1 million (USD 8.2 million), with 28% (11%) adjusted EBITDA margin in the quarter

- Net profit of USD 4.2 million (USD -17.8 million)

- Revenue growth of 17% for the full year, USD 289 million (USD 246 million)

- Adjusted EBITDA growth of47% for the full year, USD 78.1 million (USD 53.0 million)

- Continued strong onshore production through the quarter as well as for the full year, delivering record low unit cost

- Harvesting in the quarter was 2,500 MT vs. the expected range of 6,500 - 7,500 MT, lower due to krill appearing later than anticipated in area 48. Harvesting picked up to record levels in the beginning of 2021

- Kori continued to grow the consumer and customer base with new retailers coming in, including Sam’s Club, Rite Aid and Walgreens

- Launch of Lysoveta; a transporter molecule targeting the brain and eye segment. Established partnerships with University of Illinois Chicago for IP and research

- Signed pharma partnership with MD3, for development of five pharma-indications within the eye and brain segment

- Launch of Aion, a circular solution company, delivering fully traceable circular plastic products, also supporting Aker BioMarine’s ambition of full circularity of main waste streams. Plan to spin off in 2021/2022.

 

“It was an eventful year to say the least. Even in the face of Covid-19-related challenges in 2020, our business continued as usual thanks to the relentless efforts and dedication of our global team. We grew our top line by 17%, and we managed to onboard new customers and enter new markets amidst pervasive travel restrictions. I am pleased to see the scalability of Aker BioMarine’s business model coming to life, with a 2020 adjusted EBITDA growth of 47%. Despite the challenges and curveballs thrown at us in 2020, Aker BioMarine delivers strong financial numbers for the year, giving me great optimism for a promising and innovation-filled future,” said Matts Johansen, CEO of Aker BioMarine.

 

Resources: 

Fourth quarter 2020 Report
Fourth quarter 2020 Presentation (PPT)

 

For further information, please contact:

Martin Stenshall, Investor Relations

Mobile: +47 47 33 83 31

Email: martin.stenshall@akerbiomarine.com

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