Aker BioMarine ASA presents Q1 2021 Results
- Revenues of USD 50 million, down from USD 71 million in the first quarter last year, with an Adjusted EBITDA of USD 7 million (USD 13 million), with 14% (18%) Adjusted EBITDA margin in the quarter.
- Good offshore production showing a 12% increase y/y for the quarter, with all three vessels performing technically well. All-time-high February with several daily production records. The new service vessel, Antarctic Provider, was delivered in February and commenced operations early April.
- Continued high operational performance at Houston factory, despite a two-week shutdown due to the winter storm.
- Aqua sales at relatively low levels for the quarter due some delay in start-up of new contracts.
- Superba sales lower than same period last year, as volumes in South Korea still are small. However, E-commerce channels growing strongly amid Covid-19 pandemic.
- Continued expansion of Kori in US retailers’ outlets. Expecting continuation with all existing retailers for 2021 shelves reset.
- The company launched a new ESG platform with tangible 2030 targets, including of 50% reduction in CO2 emissions per ton produced. Aker BioMarine aims for continued industry leadership within sustainability.
“Operationally, the start of the year was good. All vessels were fully operational and the onshore production in Houston continued to improve efficiency and costs. Our total sales in the quarter were however lower than our ambitions, with reduced sale of Qrill to the salmon industry and Superba sales in South Korea at lower levels than last year. This contributed to lower earnings, which we are obviously not satisfied with. I remain confident that we are on track to deliver on our expectations for the full year with year over year sales growth and improved margins as a result of the scalability of the business.” says Matts Johansen, CEO of Aker BioMarine.
“Innovations and sustainability are key to deliver on Aker BioMarine’s longer-term ambitions, and we made solid progress within both areas during the first quarter of 2021. We announced an expansion of the ingredient portfolio with the launch of INVI Protein, a B2B brand promoting a highly concentrated protein ingredient with broad application potential for human consumption. We also entered into our first commercial pharmaceutical agreement with an entrepreneurial partner for our new LYSOVETA business area and we got a very positive market reception of AION, our newly established company that offers products and services to companies with a desire to recycle waste and re-use materials.”, Mr. Johansen adds.
Aker BioMarine invites investors, analysts and other stakeholders to a webcast presentation today at 09:00 am CET. The presentation will be followed by a Q&A session with management. Written questions can be submitted over the Microsoft Live Event.
The presentation will be on webcast only, and in English. To join the videoconference, use the following link: https://teams.microsoft.com/l/meetup-join/19%3ameeting_MDgyMTc5ZDctNjUyOC00Y2I0LWE3MjEtMzE5NTYzOTk2MWJh%40thread.v2/0?context=%7b%22Tid%22%3a%22d02701f9-3b23-4b3f-8fce-29ed54632bf8%22%2c%22Oid%22%3a%220e4769c3-7b47-4dbd-a752-df8039f73395%22%2c%22IsBroadcastMeeting%22%3atrue%7d&btype=a&role=a
The quarterly report, presentation material, and webcast will be made available at: www.akerbiomarine.com/investor.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
For further queries, please contact:
Katrine Klaveness, Chief Financial Officer
Telephone: +47 99 15 89 15
IMPROVING HUMAN AND PLANETARY HEALTH
Aker BioMarine is a biotech innovator and Antarctic krill-harvesting company, dedicated to improving human and planetary health. Aker BioMarine’s fully transparent value chain stretches from sustainable krill harvesting in pristine Antarctic waters through its Montevideo logistics hub, Houston production plant, and to customers around the world.