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.
This information is subject
to the disclosure requirements pursuant to section 5-12 of the
Norwegian Securities Trading Act.