Q3 2024 Aker Biomarine ASA Earnings Call Transcript
Key Points
- Aker BioMarine ASA (STU:1PG) achieved a net gain of $214 million from the closure of the feed ingredients transaction.
- The company paid out an extraordinary dividend of $373 million, equivalent to NOK45 per share.
- EBITDA increased by 10% year-over-year, driven by emerging business nearing break-even for human health ingredients.
- Emerging business grew by 14%, with significant progress in Amazon sales and expansion into Japan and China.
- The company secured a $150 million bond and a $30 million bank facility, strengthening its financial position.
- Revenue for the third quarter was down 7% year-over-year, primarily due to eliminations between segments.
- Consumer health products saw a 5% decrease year-over-year, attributed to inventory reductions by retailers.
- Houston production was impacted by weather-related shutdowns, affecting third-quarter volumes.
- The average price for crude oil decreased due to customer and product mix changes.
- The protein business is classified as held for sale, indicating potential challenges in this segment.
Good morning and welcome to the presentation of the third quarter results for Aker BioMarine, where myself, Matts Johansen and CFO, Katrine Klaveness will take you through the highlights and the financial results for the quarter.
I am traveling today. So, we will have no video, just the slides and the voice and for the same reason, we will not have a Q&A session at the end like we usually have, but you can reach out to IR at akerbiomarine.com. If you have questions or reach out to Katrine or myself directly, and we will try to answer your questions.
You can also contact one of the brokers in D&B that will host a roadshow on Monday where we also will have a group call where we will present and also they have a live Q&A session at the end.
So starting with the highlights for the third quarter '24. The key milestone for the quarter is the closure of the transaction of feed ingredients ended up at a total value of $624 million after we had adjusted for working capital and inventory. And that resulted in a net
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