Aqua Bio Technology ASA today announced its preliminary financial results for 2015. A strong fourth quarter contributed to the Company's best fiscal year in company history. Sales, financial results and cash position reached all time high levels in 2015.
ABT's income for 2015 ended at NOK 38.9 million after a 73 percent revenue growth from the 2014 income of NOK 22.5 million. The revenue growth in the fourth quarter alone was 79 percent. The income development was in line with expectations, based on contracts with ABT's U.S. based exclusivity partners.
EBITDA for 2015 ended at NOK 21.2 million, compared to NOK 5.8 million the previous year. The 2015 EBITDA corresponds to a margin of 55 percent. For the fourth quarter alone, the EBITDA margin was 61 percent. The Company's net result for 2015 came in at NOK 15.0 million, against NOK 0.9 million the previous year.
Aqua Bio Technology improved its cash holdings even further in the fourth quarter, and enjoyed a strong cash position of NOK 42 million at year-end.
Based on the Company's strong cash position and profits, following an approved audit of the 2015 financial results, it is the intention of the Board of Directors to recommend a dividend of NOK 1,50 per share to its General Assembly.
"Our financial flexibility in combination with our core expertise, which is the commercialization of new bio technology, enables us to pursue a strategy of expansion," said CEO Arvid Lindberg.
ABT has in 2015 assessed a number of biotechnology projects and companies in its search for additional commercial partners. Moving into 2016, ABT forecasts a number of technology in-licensing partnerships in the near future.
"Through building a broader technology base, we will expand ABTs business model and value creation potential going forward," Arvid Lindberg said.
For further information, please call Arvid Lindberg, CEO, telephone +47 9824 5410
Aqua Bio Technology (ABT) has launched several cosmetic ingredients used in skin care products globally. 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 is listed on the Axess market of the Oslo Stock Exchange.
