In the first quarter of 2008, the biotechnology company Aker BioMarine introduced the high value krill-oil Superba™ in the US. Market reception has been very good.“Aker BioMarine is enjoying major and steadily increasing interest in Superba™ in international markets. In the important US health food market, contacts have been established with leading distributors, retail stores, and retail chains,” says Aker BioMarine’s President and CEO Helge Midttun.
Aker BioMarine had first-quarter 2008 operating revenues of NOK 17 million; EBITDA amounted to minus NOK 28 million. Profit performance for the krill business is in line with the company’s business plan. In the corresponding 2007 reporting period, Aker BioMarine had operating revenues of NOK 137 million; EBITDA was NOK 7 million. The revenue decline is attributable to the absence of revenues from the Group’s operations in Argentina and the Faeroe Islands in the first quarter of 2008.
In the first quarter of 2008, Aker BioMarine received completed study reports from pre-clinical studies. Controlled tests are used to identify areas indicating further clinical studies on humans. Both pre-clinical and clinical studies focus on cardiovascular, joint, and brain health. The reports from the pre-clinical studies show promising findings in all of these areas.
The biotechnology company prioritizes documenting the beneficial properties and health benefits of krill’s bioactive components. The objective is to identify benefits that surpass those of alternative Omega-3 products. Agreements covering four different clinical Superba™ studies were initiated in the first quarter of 2008.
Also in the first quarter, new studies using Aker BioMarine’s Qrill™ meal as an additive in feed for farmed salmon were completed. The findings confirm the highly promising effects shown in previous studies.
Production of krill meal in the first quarter of 2008 was 3,694 metric tons, a new record and 39 percent above production for the first quarter of 2007.
The transition from low-scale extraction of Superba™ to industrial large-scale production of high-value krill oil for dietary supplement products has encountered challenges in the start-up phase.
“Start-up and further expansion of production are in high gear, driven by very good feedback regarding Superba™ from distributors, potential customers, and cooperation partners,” says Mr. Midttun.
Aker BioMarine’s business plan has always stated that krill oil will become a major and strategically important income stream from 2010-2011 and thereafter. The company’s plan remains unchanged.
