Aker BioMarine, new record growth in 2023

The Company has decided to initiate a process to explore strategic alternatives for Aker BioMarine Feed Ingredients.
Matts Johansen, CEO of Aker BioMarine.
Matts Johansen, CEO of Aker BioMarine.

Aker BioMarine

Aker BioMarine ASA has published its 2023 fourth-quarter results, which show a revenue growth both for the quarter and a record growth of 21% for the year as a whole compared to the previous year.

Specifically, the company generated in 2023 revenues of 3.5 billion NOK and of 880 million NOK in the fourth quarter, which means a 5% increase compared to the same quarter in 2022.

In addition, adjusted operating profit (EBITDA) for the quarter was 187 million NOK. This was negatively impacted by higher fuel prices and lower production volume of krill oil in Houston, the company clarified.

Also, the reports talked about a new drone boat (USV) focused on more efficient and improved exploration activities. It has contributed to a 14% higher catch so far this year compared to last year.

Regarding this report, Matts Johansen, CEO of Aker BioMarine. expressed: "Aker BioMarine experienced strong revenue growth of 21% in 2023, including significant growth in Qrill, Superba, and Lang. Margins were impacted by higher fuel prices and lower Superba production. We are now increasing production to normal capacity, which will have an effect later this year."

Searching for an alternative for Aker BioMarine Feed Ingredients

On the other hand, the company has announced that "based on the external interest for the Feed Ingredients business", it has initiated a process to "explore strategic alternatives for that business unit."

On 29 June 2023, Aker BioMarine ASA diversified its business into four units: Feed Ingredients; Human Health Ingredients; Consumer Health Ingredients; and Emerging Businesses.

Feed Ingredients has realized FY23 adjusted revenues of approximately USD 156 million and an adjusted cash EBITDA of approximately USD 49 million, with a current run rate cash EBITDA of USD 57 million.

Arctic Securities, Carnegie, and Rabobank will assist Aker Biomarine in this process.

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