Sales of Aker Biomarine's Superba™ Krill, which became the fastest-growing dietary supplement in the US. (Photo: AkerBiomarine/FIS)
2010 best year ever for Aker BioMarine
Friday, February 18, 2011, 23:30 (GMT + 9)
Aker BioMarine saw its revenues more than double in 2010 and reached a consistently positive EBITDA for the first time - making 2010 its best year thus far. Considerable sales of its products were prominent.
Net profit after tax for the full year was NOK 178 million (EUR 22.9 million) - against a loss of NOK 304 million (EUR 39.1 million) back in 2009.
The company’s Superba™ Krill sales went up threefold, showing strong momentum for additional growth in all its markets.
This product’s benefits compared with other sources of omega-3 were documented in clinical studies in Q4 2010, the firm said, and more publications are anticipated to continue to boost sales growth.
And for becoming the fastest-growing dietary supplement in the US, Superba™ received an esteemed award - the 2010 Growth Award from the Nutrition Business Journal, the country’s leading magazine of the dietary supplements industry.
Moreover, ongoing demand for Qrill™ has exceeded available production and thus pushed prices up.
Regarding Trygg Pharma Holding AS, Aker BioMarine gained NOK 393 million (EUR 50.5 million) and generated NOK 299 million (EUR 38.4 million) in the fourth quarter of last year in after-tax profits through its partnership agreement with Lindsay Goldberg Pharmanutra BV completed last November, when Aker sold 50 per cent of its shares in Trygg.
Aker BioMarine’s group operating revenues from continued operations in Q4 2010 were NOK 87 million (EUR 11.2 million) compared with NOK 47 million (EUR 6 million) in the fourth quarter of the previous year. The increase is largely due to the growth in sales of Superba™ Krill and Qrill™, which was helped by an incipient market presence in Asia established in the fourth quarter of 2010.
Its EBITDA reached minus NOK 13 million (EUR 1.7 million) in the fourth quarter of 2010, rising from minus NOK 31 million (EUR 3.98 million) in the fourth quarter of 2009.
Aker BioMarine informed that is scaling up its industrial production and has introduced products for the markets of human health, wellbeing and dietary supplements. The firm has also drafted comprehensive plans to cut operational and financial risk and uncertainties.
- Krill fleet likely to be modernized
- Aker BioMarine's krill oil widens reach
- Aker Biomarine's revenues reach EUR 16.5 mln in H1
By Natalia Real