Industry – July 10, 2026
Arctic: major new customer win de-risks Aker BioMarine growth outlook
Aker BioMarine's newly announced Superba customer could contribute USD 10-12 million in annual revenue and USD 6-7 million in adjusted EBITDA once deliveries begin in the fourth quarter of 2026, according to Arctic Securities.
The bank said the contract is likely to rank among the Human Health Ingredients division's three largest customer relationships, helping de-risk its forecast for USD 20 million of revenue growth in the division during 2027.
Arctic described Aker BioMarine's second-quarter Human Health Ingredients performance as broadly in line with expectations. Revenue reached USD 34.1 million, while adjusted EBITDA was USD 15.9 million.
The bank noted that Superba sales volumes were slightly below its forecast, but higher realised prices—driven by a greater proportion of capsule sales—offset the volume shortfall.
Net debt ended the quarter at USD 185 million, above both Arctic's estimate and market consensus, reflecting higher working capital and a payment to Aker Qrill Company.
Aker BioMarine reiterated that it expects to complete a transaction involving its Human Health Ingredients business during 2026.
Arctic maintains a Buy recommendation on the shares with a NOK 115 price target.
