In 2007, the biotechnology company Aker BioMarine achieved important, broad-ranging advances throughout its value chain. Shortly, the company will launch both its dietary supplement Superba™ and Qrill™ krill oil.“Aker BioMarine is right on target with the company’s ambitious business plan,” says Aker BioMarine’s President and CEO Helge Midttun. “We our building our future on excellent products with their own brand names, a strong organization, market know-how, efficient production, and sustainable harvesting.”
Aker BioMarine’s Superba™ dietary supplement will be launched in the US market in March 2008. Clinical studies made in the US in the fourth quarter of 2007 documented the product as safe. The first commercial production of Superba™ has been completed with excellent results in New Zealand, and the outcome has been a product that meets set specifications. Superba™ is scheduled to be launched in the Norwegian market in the second quarter of 2008.
Superba™ features high concentrations of Omega-3 bound as marine phospholipids and the antioxidant astaxanthin. These bioactive components provide documented health benefits.
Aker BioMarine’s Qrill™ krill meal has already become a success with aquaculture customers in 26 countries, for whom Qrill™ krill meal offers documented benefits. Studies performed in the fourth quarter of 2007 at the Labomar research center in Brazil, show highly promising results for Qrill™ used as a feed additive for farmed shrimp. In March 2008, Qrill™ krill oil will be launched.
As planned, Aker BioMarine’s profit figures for the fourth quarter of 2007 and for the year were affected by organizational build-up, product development, and preparations for aggressive international marketing advances. During the past year, Aker BioMarine has significantly strengthened its value chain — from sustainable harvesting to production of high-value health-promoting and nutritious products for customers worldwide.
Aker BioMarine had an operating profit before depreciation and amortization (EBITDA) of NOK -75 million in the fourth quarter of 2007, compared with NOK -14 million for the corresponding 2006 reporting period. Operating revenues for the quarter amounted to NOK 28 million, down from NOK 58 million in the fourth quarter of 2006. The revenue decline, which is in line with plans, is due to upgrading of the vessels Centurion del Atlantico and Atlantic Navigator. Revenues from Qrill™ krill meal amounted to NOK 16 million in the fourth quarter of 2007, and krill meal prices are rising. The most recently concluded contracts feature a price of more than USD 1,800 per metric ton of krill meal.
EBITDA for the 2007 accounting year amounted to NOK -75 million, compared with NOK 26 million in 2006. Revenues for 2007 amounted to NOK 404 million, compared with NOK 460 million in 2006. Aker BioMarine had a pre-tax loss of NOK 204 million for 2007. In 2006, the pre-tax loss amounted to NOK 15 million.
”Our biotechnology company is in a build-up phase, and current profit performance reflects the effects of planned costs incurred for our targeting of krill, research, product development, and brand name building. Solid market demand for Superba™, Qrill™, and krill-based products in international growth markets will be built in 2008,” says Mr. Midttun.
