Hofseth BioCare had operating revenues of MNOK 9.1 (MNOK 28.0) in the fourth quarter of 2014. Total operating expenses amounted to MNOK 37.3 in the period compared to MNOK 30.7 in the fourth quarter 2013. Total salary cost is reduced with MNOK 5.1 in 2014 compared to 2013. Total OPEX is reduced with MNOK 16,9 in 2014 compared to 2013.
Operating profit (EBIT) for the fourth quarter 2014 was negative MNOK 28.2(MNOK minus 2.7). Depreciations amounted to MNOK 4.6 in the quarter. Ordinary depreciations for the corresponding period last year were MNOK 3.3.
Net financial items in the fourth quarter were positive MNOK 1.8 (MNOK 0.5) mainly due to currency impact. Results before tax ended at negative MNOK 26.4 in the period, compared to a loss of MNOK 0.01 during fourth quarter 2013. Cash flow from operations during the fourth quarter was negative by MNOK 10.6 compared to negative MNOK 13.5 in the same quarter last year. Cash flow from the financing activities amounts to MNOK 12.9 in the fourth quarter of 2014, compared to MNOK 2.0 in the fourth quarter of 2013.
Total assets of the company at the end of the fourth quarter 2014 is MNOK 215.6 (MNOK 205.1). Total equity amounted to MNOK 79 (MNOK 62), giving an equity ratio of 36.62% (30.24%).
Please find the full report for the third quarter 2014 enclosed.
For further information please contact:
Jon Olav Ødegård, CEO Hofseth BioCare ASA
Tel +47 936 32 966
E-mail: joo@h-bc.no
Øystein Omvik, CFO Hofseth BioCare ASA
Tel: +47 936 99 400
E-mail: oystein.omvik@h-bc.no
About Hofseth BioCare:
Hofseth BioCare is a Norwegian biotech company that offers high-value
ingredients and finished products for humans and pets. The company is founded on
the core values of sustainability, traceability and optimal utilization of
natural resources. Through an innovative hydrolysis technology, Hofseth BioCare
is able to preserve the quality of salmon oil, proteins and calcium, prepared of
fresh salmon off-cuts. Hofseth BioCare`s objective is to contribute to the
efficient use of marine resources and deliver quality products for ingredients
and finished consumer products in the nutrition market.
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
