Aker BioMarine reports second quarter highlights
Norwegian krill harvester and processor Aker BioMarine has released its financial and operational highlights for the second quarter.
Including discontinued operations, total revenue was $94 million, up 6% from the same quarter last year.
Revenue from continued operations was $49.2 million for the quarter, a 4% increase from the same period last year, driven by higher sales in Human Ingredients.
On July 3, Aker BioMarine announced a agreement to sell its Feed Ingredients business for an enterprise value of $590 million.
“After the transaction with feed ingredients, Aker BioMarine will focus on human nutrition, especially the large and growing Omega-3 market. We aim to increase our market share and expand our product categories through innovation. In parallel, we will continue to explore how we can drive shareholder value by enabling potential partnerships and transactions for each of the remaining business units,” said CEO Matts Johansen.
Aker Biomarine announces deal valuing feed division at $590 million
Adjusted EBITDA from continued operations was $7.7 million, down 22% from the same quarter last year due to the inclusion of new products with lower margins. However, adjusted EBITDA, including discontinued operations, rose by 35% to $29 million, resulting in an adjusted EBITDA margin of 31%, up from 24% in the same period last year.
Sales in the Feed Ingredients segment increased by 9% compared to the same quarter last year, and by 25% when including Nutra sales. Human Health Ingredient sales rose by 22% over the same period.
Krill offshore production increased by 13% from the same period last year. Additionally, the company’s main partner in South Korea received approval for their third health claim for joint health from the South Korean FDA.
Aker BioMarine also launched its algae oil brand, FloraMarine, in Europe at Vitafoods 2024 in May.
