Aqua Bio Technology ASA (Oslo Axess: ABT) today announced the second quarter
2015 financial results. Revenues were in line with previously announced
contracts and saw a strong growth from the second quarter last year. Also the
Company's profitability improved significantly. The combined results in the two
first quarters of 2015 make the first half of 2015 ABT's best first half year
ever.
Aqua Bio Technology had revenues of NOK 9.0 million in the second quarter, up
from NOK 5.2 million in the corresponding quarter last year. EBITDA for the
quarter ended at NOK 4.7 million, representing an EBITDA margin of 52.2 per
cent. Last year's EBITDA of NOK -0.2 million was adversely affected by a legal
dispute in the United States. ABTs net result for the second quarter 2015 was
NOK 3.2 million, compared to NOK -1.7 million last year.
For the first half of 2015 ABT had revenues of NOK 18.1 million, up from NOK
10.6 million in the first six months of last year. EBITDA for the first half was
NOK 10.0 million, compared to NOK 1.0 million last year. The first half's net
result ended at NOK 7.3 million, against NOK -2.1 million last year.
"We enjoy a strong financial position and have a transparent revenue stream the
next couple of years. On this basis we are now looking to expand our business
through establishing partnerships with other bio technology companies, and
leverage from our sales and marketing expertise," said Aqua Bio Technology's CEO
Arvid Lindberg.
For further information, please call Arvid Lindberg, CEO, telephone
+47 9824 5410
Aqua Bio Technology (ABT) has launched several cosmetic ingredients to the
global skincare market. The ingredient, based on the Company's unique, marine
technology and other technologies, have documented positive effects on the skin.
Skin care is the fastest growing segment in the cosmetics industry, where ABT's
ingredients have established a foothold. In addition to ingredients from its own
technology, ABT also commercializes technologies/ingredients for partners, for
use in novel skin care products. Aqua Bio Technology i listed on the Axess
market of the Oslo Stock Exchange.
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
[HUG#1946302]
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