Q1 2025 Aker Biomarine ASA Earnings Call Transcript
Key Points
- Aker BioMarine ASA (FRA:1PG) reported a 5% increase in revenue, reaching $50.8 million compared to the same quarter last year.
- The company achieved a significant 59% improvement in EBITDA year-over-year, indicating strong operational performance.
- Human health ingredients segment saw a 16% growth, driven by increased Krill oil sales and a broader product portfolio.
- The company successfully initiated the first human clinical trial for its new Lysoveta product, with potential health claims for brain health.
- Aker BioMarine ASA (FRA:1PG) received a $2 million grant from the European Union for further clinical trials on Lysoveta, showcasing external validation and support.
- The emerging business segment experienced a 32% decline in revenue compared to the same quarter last year, primarily due to high Amazon revenue recognition in Q1 last year.
- Cash flow from operations was negative at $11.1 million, impacted by changes in working capital and inventory build-up.
- Interest-bearing debt increased to $157 million, up from $145 million last quarter, raising concerns about leverage.
- The company faces potential challenges from tariffs on imports and exports, which could affect cash flow and profitability.
- Sales of algae oil were limited due to production challenges, impacting the growth potential of this segment.
Good morning and welcome to the presentation of Aker Biomarine's results for the first quarter 2025 where myself, Matts Johansen, the CEO, and the CFO Katrine Klaveness will take you through the financials and the highlights of the quarter.
Another good quarter for Aker Biomarine, delivering close to $51 million of revenue of 5% from the same quarter last year, and a significant improvement on the EBITDA, up 59% from the same quarter last year. Schumann has ingredient continue positive development, 16% growth on the top line and 36% growth on the EBITDA and it's good to see consumer health products also back into growth territory. Human health ingredients continue its focus on getting closer to breakeven and deliver $0.4 million negative EBITDA with stable revenue, one step closer to that breakeven point.
Key milestone for the quarter is that we have kicked off the first human clinical trial for our new Lysoveta product that will eventually, if successful, generate the first health claims for the new brain ingredient that we
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