Aqua Bio Technology ASA (Oslo Axess: ABT) today announced its second quarter and first half 2013 financial results. The Company posted its best product sales figures ever and a significantly improved profitability.
ABT's revenues were NOK 6.9 million in the second quarter, against NOK 0.1 million in the same quarter last year. Revenues were at par with the previous quarter, however products sales now represent a significant part of ABT's income.
EBITDA for the second quarter ended at NOK 2.8 million, while EBITDA in the corresponding period last year was NOK -2.8 million. Net result came in at NOK 1.5 million for the quarter, against NOK -4.3 million in the same period last year.
For the first half of 2013 ABT had revenues of NOK 14.2 million, against NOK 12.1 million in the same period last year. EBITDA for the first half of 2013 was NOK 6.7 million against NOK 6.8 in the same period last year. Net result for the first half 2013 was NOK 4.2 million, while the first half last year ended with a net result of NOK 4.1 million.
"Product sales represented more than half of ABT's income in the second quarter. We are very satisfied with the company's development and our second quarter and first half year results," CEO Arvid Lindberg said.
ABT's growing sales income is generated primarily by its largest customers but also from a positive sales development from other customers.
Aqua Bio Technology has identified and pursued a number of potential technology partners during the last months. The company's objective is to launch new products based on in-licensing agreements in the future.
"Our aim is to be a greenhouse for the commercialization of new bio technology for the cosmetics industry. Delivering on this strategy will not only further improve sales and profitability, but also make ABT a more robust company and an even more relevant partner to the cosmetics industry," CEO Arvid Lindberg said.
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.
