Hofseth BioCare (HBC) had operating revenues of NOK 6,934 thousand in the fourth quarter of 2012, compared to NOK 11,494 thousand in the previous quarter and NOK 233 thousand in the corresponding period 2011. The company reports an EBITDA of NOK -18,594 thousand in the period, compared to NOK -6,461 thousand in the third quarter of 2012 and NOK -5,795 thousand during fourth quarter of 2011.
Fourth quarter revenues are negatively affected by the destruction of bacteria-contaminated volumes of Soluble Protein (SPH) during the quarter.
It has proven more challenging for Hofseth BioCare to obtain the designed yield and product quality for soluble protein (SPH) than previously expected. The challenges have been related to the separation of raw-material into different production fractions. Combined with the bacterial issues, severe actions were initiated during the quarter for improve the situation.
- The bacterial issues triggered comprehensive actions, including replacement of critical processing-components to solve the problem. The processes are now completed, and the first full-scale production series show potential for significant SPH-yield increase, says CEO Sjur Jenssen in Hofseth BioCare.
In addition, the activities at HBC's newly acquired spray dryer facility at Berkåk are initiated, giving HBC control of the critical drying-phase of the SPH production-process, and going forward all drying processes related to SPH- production will be handled at Berkåk. Combined with production process changes, HBC expects improved yield and quality improvement to the its products going forward.
Please find the full report for the fourth quarter enclosed.
For further information please contact:
Sjur Jenssen, CEO Hofseth BioCare ASA
Tel: +47 9155 3514
Email: sj@h-bc.no
About Hofseth BioCare:
Hofseth BioCare is a Norwegian biomarine company with the key objective to provide high value added biomarine ingredients for human applications. The Company is founded on the core value of sustainability and optimal use of natural resources. Through innovative production technology and logistics, Hofseth BioCare is able to preserve the quality of protein, calcium and oil extracted from fish off-cuts. Products that previously could only be used as animal feed can now be made suitable for human consumption. HBCs objective is thus to contribute to efficient use of marine resources and entering the higher profit market of quality ingredients for human applications.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Fourth quarter revenues are negatively affected by the destruction of bacteria-contaminated volumes of Soluble Protein (SPH) during the quarter.
It has proven more challenging for Hofseth BioCare to obtain the designed yield and product quality for soluble protein (SPH) than previously expected. The challenges have been related to the separation of raw-material into different production fractions. Combined with the bacterial issues, severe actions were initiated during the quarter for improve the situation.
- The bacterial issues triggered comprehensive actions, including replacement of critical processing-components to solve the problem. The processes are now completed, and the first full-scale production series show potential for significant SPH-yield increase, says CEO Sjur Jenssen in Hofseth BioCare.
In addition, the activities at HBC's newly acquired spray dryer facility at Berkåk are initiated, giving HBC control of the critical drying-phase of the SPH production-process, and going forward all drying processes related to SPH- production will be handled at Berkåk. Combined with production process changes, HBC expects improved yield and quality improvement to the its products going forward.
Please find the full report for the fourth quarter enclosed.
For further information please contact:
Sjur Jenssen, CEO Hofseth BioCare ASA
Tel: +47 9155 3514
Email: sj@h-bc.no
About Hofseth BioCare:
Hofseth BioCare is a Norwegian biomarine company with the key objective to provide high value added biomarine ingredients for human applications. The Company is founded on the core value of sustainability and optimal use of natural resources. Through innovative production technology and logistics, Hofseth BioCare is able to preserve the quality of protein, calcium and oil extracted from fish off-cuts. Products that previously could only be used as animal feed can now be made suitable for human consumption. HBCs objective is thus to contribute to efficient use of marine resources and entering the higher profit market of quality ingredients for human applications.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
