Superba Krill oil capsules. (Photo: Aker BioMarine )

Superba Krill sales soar for Aker Biomarine

NORWAY
Monday, August 13, 2012, 23:50 (GMT + 9)

Aker BioMarine achieved the highest quarterly sales of Superba(TM) Krill to date with 74 tonnes in the second quarter of 2012 and strong growth continues.

Operating revenues were NOK 107 million (EUR 14.7 million) in Q2 compared to NOK 87 million (EUR 11.96 million) a year before – mainly attributable to higher sales of the aforementioned product -- and NOK 190 million (EUR 26.1 million) year-to-date versus NOK 157 million (EUR 21.6 million) for the same period of 2011.

EBITDA reached NOK 26 million (EUR 3.6 million) in the second quarter compared to NOK 24 million (EUR 3.3 million) in Q2 2011. This marginal improvement comes as a result of the effect of lower harvesting volumes and production value in combination with costs associated with two harvesting vessels currently operating.

A large chunk of the sales volume during that quarter consisted of shipments to Asia and the Pacific region and there was continued positive performance in the US market.

Aker BioMarine is experiencing robust demand growth for both its dietary supplement Superba(TM) Krill and the feed ingredient Qrill(TM), which has led the company to upwardly adjust its sales guidance for the year to 320-350 tonnes.

Aker BioMarine obtained Marine Stewardship Council (MSC) certification renewal that covers its two krill harvesting vessels.

The firm has seen an average annual sales growth of 88 per cent for Superba(TM) Krill since 2009, and to secure enough raw materials, the vessel Antarctic Sea has entered full operations and produced 1,000 tonnes as of June. Last year’s sales grew by 31 per cent and this year it is expected to grow by 45 per cent, a trend that is anticipated to continue, which is why Aker Biomarine is considering alternatives for significantly boosting its production capacity.

Looking at liquidity over the short term, the company will need to obtain additional operational funding both because the new vessel investment was more costly than anticipated, and because the firm’s decision to participate in a new joint venture investment with Lindsay Goldberg in the company IDT.

Related article:

- Aker Biomarine sees higher revenues, lower EBITDA in Q1

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

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