Aker Biomarine nets first quarterly profit

By

SeafoodSource staff

Published on
August 5, 2010

Oslo, Norway-based krill harvester and biotechnology group Aker Biomarine posted a quarterly profit for the first time thanks to a strong harvest and strong sales of its omega-3 fatty acid-rich products for human consumption.

Second-quarter sales of the company’s Superba Krill Oil and Suberba Krill Caps increased nearly sevenfold to 46 metric tons. The company’s 2Q report also lauded the recent Marine Stewardship Council certification of its Antarctic krill fishery, the first ever to be MSC-certified.

Aker Seafoods owns 83 percent of the company, which is still in the red by NOK 10 million (EUR 1.3 million; USD 1.7 million) for the first half of 2010.

But the company posted its first-ever profit by posting NOK 1 million (EUR 126,630; USD 166,890) in earnings before interest, taxes, depreciation and amortization in the second quarter, a stark difference from 2009’s loss NOK 22 million (EUR 8.9 million; USD 3.7 million).

Aker’s fishmeal and oil product Qrill production increased to 4,344 metric tons in the second quarter, up 25 percent from the same period last year.

Overall operating revenue for the first half of 2010 more than doubled from 2009 to NOK 130 million (EUR 16.5 million; USD 21.7 million).

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