Volume-driven profit jump for Aker BioMarine

Aslak Berge

Aker BioMarine reported revenue of $73 million and adjusted EBITDA of $21 million for the second quarter of 2022.

“Aker BioMarine delivers good profitability in the quarter, especially driven by high sales volumes and prices for Qrill Aqua. The company has also improved krill harvesting, and so far this year, Antarctic production of krill meal is 39,000 tonnes, 13 percent over last year. Superba krill oil sales organization is strengthened in all geographies and will perform on the upgraded pipeline to deliver growth. We repeat our financial goals for the whole of 2022,” Matts Johansen, CEO of Aker BioMarine said.

These financial targets for 2022 are a sales growth of between 20 and 25 percent, and an adjusted EBITDA margin of 20 to 25 percent, according to a message sent from the company on Thursday morning.

Stock price Aker BioMarine. Source: Infront

Adjusted EBITDA, of $21 million, is up 11 percent from the same quarter last year. Net income landed at $15 million, up from -$3 million in the same quarter last year.

Sales in Ingredients and Brands are up eight and 16 percent from the same quarter last year, respectively.

The company’s offshore production volume was 16,500 tonnes. It is the highest second quarter ever and up 19 percent from the same quarter last year.

Aker Biomarine has for many years been a major supplier of krill meal, including to the fish feed manufacturer BioMar.

Photo: Aker BioMarine

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