05/05/2017: Aker BioMarine releases 2016 annual report

According to its latest Annual report, Aker BioMarine generated revenues of US $117 million in 2016 compared with US $105 million in 2015, equivalent to 11 percent growth

 

Image: Bernard Spragg NZ

The operating profit before depreciation and special operating items (EBITDA) amounted to US $36 million in 2016. The company managed to grow sales and improve operations in the still-challenging omega-3 market, and continues to heavily invest in new technology and the development of new krill-derived products.

Matts Johansen, CEO of Aker BioMarine, is satisfied with the result, but admitted that 2016 was still a challenging year for the company.

“Being a pioneer in this marketplace is demanding. For every victory, there are numerous setbacks. 2016 was a year filled with several achievements, with a few disappointments sprinkled in,” Mr Johansen said.

“Although 2016 was a good year for Aker BioMarine, we posted slightly negative earnings after tax. The investments needed to build a supply chain for krill-based products, the resources needed to innovate and document their biological effects, and the time needed to develop new markets are reflected in our earnings.”

Mr Johansen added, “Having a supportive owner in Aker ASA with a long-term vision has been vital to Aker BioMarine’s development. In 2016 we became stronger both financially and organisationally. We will continue to develop the company further by focusing on innovation, product development and investing in new technology to become an even more sustainable company.”

2016 highlights: 

• Aker BioMarine acquired complete ownership of the company’s krill-products manufacturing facility in Houston, Texas, by purchasing the 50 percent joint-venture interest held by extracts specialist Naturex in 2016. The ultra-modern 180,000 square foot facility enables Aker BioMarine to expand its product range and delivery volume.

• Scientists from the Medical University of South Carolina (MUSC) and the National Institutes of Health launched a comprehensive research study to evaluate the effects of Aker BioMarine’s krill oil omega-3s on the resilience and performance of more than 400 recruits at the U.S. Army Infantry Basic Officer Leadership Course and the U.S. Army Ranger Training School.

• The Antarctic krill fishery is one of the world’s most sustainable fisheries. Aker BioMarine is specially noted for near-zero by-catch, fully transparent operations, and MSC certification, the highest sustainability standard for fisheries worldwide. In 2016, for the second year in a row, the krill fishery received an “A” rating from the Sustainable Fisheries Partnership.

• Aker BioMarine kicked off the Omega-3 Index Project with several industry partners in 2016 to promote greater awareness of health issues associated with low omega-3 levels, now a global health concern. Studies worldwide indicate that most people are omega-3 deficient. That’s why Aker BioMarine and its O3i project partners are informing the public about the risks inherent in having a low Omega-3 Index — and recommend remedial action.

Read the annual report, HERE.

Read more HERE.

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