Aqua Bio Technology ASA (Oslo Axess: ABT) today announced the first quarter
2015 financial results. The Company's profitability improved significantly, and
the quarterly result was the second best in the Company's history.
Aqua Bio Technology had revenues of NOK 9.1 million in the first quarter of the
year, which is an increase from last year's NOK 5.4 million. The first quarter
revenues consist mainly of license and royalty payments from exclusivity
partners.
The Company's EBITDA improved significantly, from NOK 1.2 million in last year's
first quarter to NOK 5.2 million in the first quarter of 2015. The result
corresponds to an EBITDA margin of 57.7 per cent. ABT's net result for the first
quarter came in at NOK 4.1 million, compared to NOK -0.4 million last year.
"ABT's strong financial position and profitability last year enabled the Board
to propose for the General Assembly a NOK 1.00 per share dividend payment for
2014, the first in the Company's history"said CEO Arvid Lindberg. "The first
quarter 2015 results are also satisfactory and in line with our expectations",
he continued.
The Company's first quarter revenues reflect ABT's contracts with two
exclusivity partners in the cosmetics industry. The revenue stream from these
contracts will continue in 2015 and 2016.
Aqua Bio Technology is also exploring opportunities to expand its business. The
Company's strategy is to grow through in-licensing of third party technologies.
ABT is also considering venturing into the development of new ingredients for
medical purposes.
For further information, please call Arvid Lindberg, CEO, telephone
+47 9824 5410
Aqua Bio Technology (ABT) has launched cosmetic ingredients used in skin care
products globally. The ingredients, 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. Aqua
Bio Technology is listed on the the Oslo Stock Exchange, Oslo Axess (ticker:
abt.oax)
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
[HUG#1921253]
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