Q2 2024 Aker Biomarine ASA Earnings Call Transcript
Key Points
- Aker BioMarine ASA (STU:1PG) reported $94 million in revenue and $29 million in EBITDA for the quarter, reflecting strong financial performance.
- The Human Health ingredient segment saw a 22% growth, driven by robust demand for krill oil and other products.
- The company achieved a 13% increase in harvesting, producing over 20,000 tons of product.
- Aker BioMarine ASA (STU:1PG) secured its third health claim approval in the Korean market, enhancing its product credibility.
- The sale of the feed ingredient business for $590 million is expected to result in an extraordinary dividend payout between NOK35 and NOK45 per share.
- The consumer health product segment experienced a relatively weak quarter due to inventory adjustments on the retail side.
- Gross margins for the continued business dropped from 40% to 33%, impacted by a broader product portfolio with lower margins.
- The emerging business segment reported a negative $7 million EBITDA, highlighting the need for cost discipline and growth to reach breakeven.
- Corporate overhead costs remain high at $12 million to $13 million, necessitating a review and adjustment to align with the remaining business size.
- The Human Health ingredient segment experienced volatile margins due to customer mix and lower Superba krill oil prices.
Good morning, and welcome to the presentation of the second quarter result for Aker Biomarine . Very myself, Matts Johansen the CEO, and the CFO Katrine Klaveness will take you through the highlights and the financials of the quarter. We will also end the session with a Q&A session. And you can already now start sending in questions to ir@aker Biomarine .com.
So the main event of the last period is the sale of the feed ingredient business that we concluded last week valued at $590 million according to accounting rules already now in the second quarter, the feed ingredient business will be classified as held-for-sale or discontinued business. I'm a bit taken out of many of the constant statements you will see in our financial report. We'll get back to the transaction a little bit later.
When talking about the overall business of Aker Biomarine , it's great to be here again now for the eighth quarter in a row and percent growth year-over-year. We delivered $94 million of revenue and $29 million of EBITDA. And the growth
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