After "Challenging" 2016 Results, Aker BioMarine Highlights New Investments and Sustainability

05 May 2017 --- Krill supplier Aker BioMarine has reported revenues of US$117 million in 2016 compared with US$105 million in 2015, which is equivalent to 11 percent growth. The operating profit before depreciation and special operating items (EBITDA) amounted to US$36 million in 2016, according to the company’s latest annual report. 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, the company reported.

Aker BioMarine CEO Matts Johansen indicated that he is satisfied with the result, but added 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,” Johansen says. “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,” Johansen adds.

Last year’s highlights for the company:

• 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 US Army Infantry Basic Officer Leadership Course and the US 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 launched the Omega-3 Index Project with several industry partners in 2016 to promote greater awareness of health issues associated with low omega 3 levels. Aker BioMarine and its O3i project partners are informing the public about the risks inherent in having a low Omega-3 Index, after studies worldwide indicate that most people are omega 3 deficient.

So far 2017 has seen the company invest in a state-of-the-art krill-fishing vessel, which Aker BioMarine Communications Director Katrin Berntsen in February told NutritionInsight will be equipped with the latest in eco-friendly technologies and will reduce by-catches to near zero. More recently, the company voluntarily withdrew a complaint at the International Trade Commission (ITC) alleging that Rimfrost had violated several of its patents.