Krill harvesting company Aker Biomarine has announced higher sales and operating profits for Q3 this year.
Sales for the three months to 30 September totalled US $67.9m (£60m), up from 61.9m (£54.8m) in Q3 last year. The adjusted EBITDA ended at $18.8m (£16.6m), compared to $14.7m (£13m) 12 months ago while the operating profit emerged at $6.4m (£5.6m) against a loss of $2.2m (£1.9m).
The company said: “Aker BioMarine delivered higher sales growth and EBITDA, which was driven by improvement in all segments compared to the same quarter last year.
The Qrill segment – Aker’s functional feed additive, derived from dried krill – reports especially strong figures, with high sales volumes and prices for Qrill Aqua.
CEO Matts Johansen said: “We have significantly improved our Antarctic krill harvesting, and so far this year, the production of krill meal is above 50,000 tons, which is 23% above last year.”
Aker BioMarine is also a leading biotech innovator developing krill-derived products for consumer health and wellness as well as animal nutrition.
Other highlights reported by the company included:
An 11% sales in the Ingredients segment, up 11% while sales in the Brands segment rose by 10% from the same quarter in 2021.
The Offshore production volume was 12,737 metric tonnes, 77% above the same quarter last year.
Aker BioMarine said it is targeting revenue growth of 8%-12%, with an adjusted EBITDA margin of 23-26%.
The company expects a lower revenue growth and at the same time higher margins than previously targeted, which implies an unchanged targeted adjustment.
The company’s Q3 report also pointed out that the macro-economic climate, with sky-high inflation, continued Covid restrictions in Asia and a reset within the organisation had affected sales.