Aker BioMarine ASA Q3 2021
29 October 2021 - Aker BioMarine ASA (“Aker BioMarine” or “the company”) reports
revenues of USD 62.0 million and Adjusted EBITDA of USD 14.6 million in the
third quarter 2021.
“In the quarter, we delivered revenues and earnings as expected and we reiterate
our full-year guidance. Sales of Qrill and our private label brand in the US
were at a good level, while sales of the krill oil brand Superba was low also in
this quarter. Powerful growth initiatives are now implemented, and we target
higher sales already in the next quarter. We had a positive end to the 2021
krill harvesting season in Antarctica and we look forward to the new one that
starts late November” said Matts Johansen, CEO of Aker BioMarine.
Third quarter highlights:
- Revenues of USD 62.0 million (compared to USD 70.2 million in the same period
- Adjusted EBITDA of USD 14.6 million (USD 26.8 million), with 24% (38%)
Adjusted EBITDA margin in the quarter. Adj. EBITDA included a net gain of USD
2.45 million from sale of fuel option contracts
- Sales in Ingredients declined 21% in the quarter versus same period last year.
Qrill sales were down 3%, while Superba sales were 42% below same period last
year. A growth plan for Superba is being implemented with several near-term
initiatives, including new sales strategies and organization, new claims and new
- The market reach for Kori, our retail brand in the US, further increased with
two large retailers moving to full distribution in stores in the first quarter
- Harvesting volumes of 7,195 MT in the quarter compared to 8,727 MT in the same
period last year
- A new record-quarter at the Houston facility with production increasing 24%
from same period last year with all-time-low unit cost
- Refinancing structure agreed with a three-bank syndicate. Improved terms and
conditions, as well as increased flexibility related to covenants and dividends
Aker BioMarine reiterates the guiding for 2021 with expected sales at somewhat
below last year’s revenue and with an expected adjusted EBITDA margin of 15-17%.
The company still expects harvesting volume for the year to be in the range of
40,000 – 45,000 MT, depending on harvesting conditions in the fourth quarter.
Aker BioMarine will host a Capital Markets Update on 1 December 2021, where a
more detailed presentation of the company and its efforts to improve earnings
and growth will be given. It will be a fully digital event.
At 09:00 CEST today, the management will host a Q3 conference call. Following a
brief presentation, there will be a Q&A session, where written questions can be
submitted over a Teams Live Event.
The webcasted presentation will be in English. To join, please use the following
A link to the presentation is also available at www.akerbiomarine.com/investor.
A replay of the presentation and Q&A session, in addition to the quarterly
report and presentation material, will be made available soon after the
presentation at the same web address.
For further information, please contact
Carl Christian Bachke, Investor Relations
Mobile: +47 909 808 48
This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act.
About Aker BioMarine
Aker BioMarine is a leading biotech innovator and Antarctic krill-harvesting
company developing krill-derived products for pharma, consumer health and
wellness as well as animal nutrition. The company has a strong position in its
industry and is the world's leading supplier of krill, the natural, powerful and
health promoting source of nutrients from the pristine waters of Antarctica.
Aker BioMarine is listed on Oslo Stock Exchange (AKBM). More information is
available at www.akerbiomarine.com.