The biotechnology company Aker BioMarine has developed a new dietary supplement: Superba™. Market launch of Superba™ is scheduled for March 2008. In the third quarter of 2007, Aker BioMarine achieved progress across its value chain.
Aker BioMarine has entered into an agreement with Life Europe AB on distribution of the dietary supplement Superba™ in some 500 retail chain stores in Finland, Norway, and Sweden. Further, a term sheet has been signed with a leading Omega 3 distributor in the US for distribution of Superba™. Earlier this week, it was announced that Aker BioMarine had entered into agreements in France and New Zealand that secure production of high-value krill oil.
“The pieces of the puzzle are falling into place, one by one, just as we have communicated in our business plan,” says Aker BioMarine President and CEO Helge Midttun.
Aker BioMarine’s third-quarter 2007 profit is characterized by organizational build-up, product development, and preparations for aggressive market advances in international growth markets. The company is strengthening its position across the value chain – from sustainable krill harvesting to production of high-value, health-promoting products for customers worldwide.
“Aker BioMarine is building a solid foundation for production and sale of our unique products. We are on right on schedule regarding financial and market goals,” says Midttun.
Aker BioMarine’s had a third-quarter 2007 EBITDA of NOK 20 million, compared with NOK 4 million in the corresponding 2006 reporting period. Operating revenues in the third quarter of 2007 amounted to NOK 89 million, down from NOK 93 million in the third quarter of 2006. Operations in Argentina improved in the third quarter of 2007 compared with the corresponding 2006 reporting period. As anticipated, Antarctic (krill) and Faeroe Islands operations were weaker. Difficult ice conditions in Antarctic waters will result in somewhat lower krill harvesting and meal production in 2007 than estimated in the original business plan; however, krill yield and market prices are above projections.
Aker BioMarine’s first registered brand name, Qrill™ is already a commercial success among aquaculture customers in 26 countries. In March 2008, Aker BioMarine will launch its second brand, Superba™, in Norwegian and US markets. Superba™ is a dietary supplement featuring high concentrations of Omega-3 bound to marine phospholipids, and the antioxidant astaxanthin.
“We expect Superba™ to be a market success. Following product launches in Norway and the United States, we will target Japan, Sweden, Finland, and other European countries,” says Mr. Midttun.
