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Aker BioMarine vessels have already finished this year's krill fishing season. (Photo: MaritimeColours/Stockfile)

Aker BioMarine records 'unprecedented' krill oil sales

Click on the flag for more information about Norway NORWAY
Tuesday, November 06, 2012, 01:00 (GMT + 9)

Aker Biomarine achieved krill oil record sales in the third quarter and expects that after the merger with a wholly owned subsidiary of Aker ASA in January 2013, the company will be delisted from the Oslo Stock Exchange. Pursuant to the merger proposal, Aker BioMarine’s minority shareholders will receive settlement in Aker ASA shares for their former Aker BioMarine shareholding.

The merger proposition will be treated in an extraordinary shareholder meeting this week.

Q3 brought unprecedented Superba™ Krill sales for Aker BioMarine at 106 tonnes for the first time, up from 45 tonnes in the third quarter of 2011, with particularly pronounced growth in the Asia and Pacific region.

Also this quarter, thanks to stronger Superba™ Krill sales, EBITDA was the best ever recorded at NOK 29 million (EUR 3.9 million), the company’s pre‐tax profit was NOK 39 million (EUR 5.3 million) and operating revenues reached NOK 131 million (EUR 17.8 million), up from NOK 72 million (EUR 9.8 million) a year ago.

The vessels Antarctic Sea and Saga Sea finished krill harvesting for the season in September 2012 and the 2013 season is expected to begin for both vessels in December 2012.

Antarctic Sea produced 2,460 tonnes of Qrill™ in the third quarter of 2012; further growth is anticipated in 2013 as a result of the investment programme to be completed in Q4. Saga Sea produced 2,970 tonnes of krill compared with 2,695 tonnes a year ago.

Prices for Qrill™ Aqua remained stable in the third quarter and new contracts were signed at prices of up to USD 2,150 per ton for Q4 2012 delivery. A total of 2,047 tonnes was sold in Q3, down from 2,589 tonnes in Q3 2011; another 620 tonnes of Qrill™ High Protein Meal were sold.

In Q3, Aker BioMarine produced some 151 tonnes of Superba™ Krill oil, up 33 tonnes from the third quarter of 2011. The firm has continued to explore alternatives for increasing annual production capacity by at least 1,000 tonnes.

Sales of Superba™ Krill oil increased 43 per cent or 32 tonnes from Q2 to Q3, attributable to greater volumes sold to existing customers and positive developments in the Asia and Pacific region -- a trend expected to continue into Q4 and 2013.

Aker BioMarine’s strategic development programme is advancing product development, with a special focus on creating new pharmaceutical applications derived from krill.

Related article:

-
Aker BioMarine merger plan approved

By Natalia Real
editorial@fis.com
www.fis.com


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