November 4, 2022

 

Higher sales for Aker BioMarine's Q3 results

 

 

Krill harvesting company Aker BioMarine has announced higher sales and operating profits for the third quarter of this year.

 

Sales for the three months to September 30 totaled US$67.9 million, up from US$61.9 million in Q3 last year. The adjusted EBITDA ended at US$18.8 million, compared to US$14.7 million 12 months ago while the operating profit emerged at US$6.4 million against a loss of US$2.2 million.

 

The company said: "Aker BioMarine delivered higher sales growth and EBITDA, which was driven by improvement in all segments compared to the same quarter last year.

 

"The Qrill segment – Aker's functional feed additive, derived from dried krill – reports especially strong figures, with high sales volumes and prices for Qrill Aqua."

 

Aker BioMarine chief executive officer Matts Johansen said: "We have significantly improved our Antarctic krill harvesting, and so far this year, the production of krill meal is above 50,000 tonnes, which is 23% above last year."

 

Other highlights reported by the company included:

 

    - An increase of 11% in sales for its Ingredients segment, while sales in the Brands segment rose by 10% from the same quarter in 2021;

 

    - Aker BioMarine's Offshore production volume was 12,737 tonnes, 77% above the same quarter last year.

 

Additionally, Aker BioMarine revealed it is targeting a revenue growth of 8-12%, with an adjusted EBITDA margin of 23-26%.

 

The company expects a lower revenue growth and, at the same time, higher margins than previously targeted, which implies an unchanged targeted adjustment.

 

The company's Q3 report also pointed out that the macro-economic climate, with sky-high inflation, continued COVID-19 restrictions in Asia and a reset within the organisation affecting sales.

 

- Fish Farmer