Aqua Bio Technology ASA (Oslo Axess: ABT) today announced its third quarter
2013 financial results. The Company maintained its strong profitability, while
key customers expand the use of ABT's ingredients.
ABT's revenues were NOK 4.8 million in the third quarter 2013, which is at par
with the same quarter last year. EBITDA for the quarter ended at NOK 1.8
million, reflecting an EBITDA margin of 38 per cent. EBITDA in the corresponding
period last year was NOK 1.0 million. Net result for the third quarter came in
at NOK 0.6 million, against NOK -0.5 million in the same period last year.
For the first nine months of 2013 ABT had revenues of NOK 19.0 million, against
NOK 16.8 million in the same period last year. EBITDA for the first three
quarters of 2013 was NOK 8.5 million, representing an EBITDA margin of 45 per
cent. EBITDA for last year's first three quarters was NOK 7.8 million. Net
result for the first nine months of 2013 was NOK 4.9 million, while the same
period last year ended with a net result of NOK 3.6 million.
ABT's two largest customers both expanded their portfolio of skin care products
based on the Company's lead ingredient Aquabeautine XL(TM) in the third quarter.
US based Restorsea expanded its skin care product line to a full total of 11
products, while direct sales company Amway had the initial launch of four
products in its new Artistry skin care series in nine countries in the Asia
Pacific region.
"We are pleased to see our customers successfully roll out new products based on
our marine and natural ingredients," Aqua Bio Technology's CEO Arvid Lindberg
said.
ABT last week announced three new distributor agreements for its new
Dermaclarine(TM) ingredient. The new distributors cover markets totaling more
than 300 million consumers, and Dermaclarine(TM) is expected to be a major
contributor to a continued positive development for ABT going forward.
The Company's strategy also includes taking the new ingredient Beauty Propelline
to market and to engage in in-licensing partnerships with other biotech
companies developing natural ingredients for the cosmetics industry.
Aqua Bio Technology maintained its strong cash position also in the third
quarter 2013.
For further information, please call Arvid Lindberg, CEO, telephone
+47 9824 5410
Aqua Bio Technology ASA (ABT) develops, produces and markets patented
ingredients and technologies to the international cosmetic and skin care
industry. ABT's ingredients Aquabeautine XL, Dermaclarine and Beauty Propelline
are marine solutions derived from the hatching fluid of salmon, while Oceanx Oil
in Serum is based on extract from seaweed. ABT is listed on the Oslo Stock
Exchange's Axess market.
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
[HUG#1745918]
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