Aqua Bio Technology ASA (Oslo Axess: ABT) today announced the 2013 preliminary financial results. The Company had its best year ever.
Aqua Bio Technology had revenues of NOK 22.8 million last year, up from the previous year's revenues of NOK 20.3 million. The EBITDA was NOK 7.8 million, corresponding to an EBITDA margin of 34 per cent. The previous year's EBITDA was NOK 8.0 million. The result before tax ended at NOK 2.8 million for 2013, against NOK 0.9 million the previous year.
Aqua Bio Technology is still in an early phase of its commercial development, and revenues will therefore fluctuate from quarter to quarter. ABT had revenues of NOK 3.8 million in the fourth quarter, compared to NOK 3.4 million in the corresponding quarter of the previous year. The EBITDA for the fourth quarter was NOK -0.7, against NOK 0.2 million in the last quarter of 2012. The result before tax for the fourth quarter was NOK -2.1 million, against NOK -2.7 million in the same quarter of the previous year.
"Aqua Bio Technology saw progress in several key areas in 2013. Revenues grew, our market position became stronger and a healthy cash flow made the Company even more financially solid," said CEO Arvid Lindberg.
ABT's exclusivity partners on Aquabeautine XL(TM) both expanded their portfolios of skin care products based on ABT's technology in 2013. Restorsea extended their skincare line with new products, while Amway's new skin care series was introduced in nine markets across Asia and the Pacific region.
Several new distributor agreements were signed in the fourth quarter. The new agreements cover 16 countries totaling more than 300 million consumers, primarily in Europe. These distributor agreements add to ABT's existing network of distributors in Asia and the Americas.
Aqua Bio Technology describes the Company's outlook as promising.
"Existing contracts secure ABT's profitability over the next years. Increasing sales volumes for Aquabeautine XL(TM) and expected revenues from new products will over time contribute even further to the Company's profitability," Arvid Lindberg said.
Aqua Bio Technology provides proprietary, marine based ingredients for the skin care industry. The Company offers natural ingredients to the most rapidly expanding segment in the fast growing cosmetics industry.
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(TM), Dermaclarine(TM) and Beauty Propelline(TM) 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.
