Aker BioMarine weathers the pandemic
Wednesday, February 17, 2021
Aker BioMarine reported revenues of $75.5 million ($71.9 million in 2019) and an adjusted EBITDA of $21.1 million in the fourth quarter of 2020.
The company also reported a continued strong onshore production through the quarter as well as for the full year, delivering record low unit cost. Harvesting in the 2020 fourth quarter was 2,500 MT, lower than the expected that ranged from 6,500 - 7,500 MT. However, the company reported that harvesting picked up to record levels at the beginning of 2021.
“It was an eventful year to say the least. Even in the face of COVID-19-related challenges in 2020, our business continued as usual thanks to the relentless efforts and dedication of our global team. We grew our top line by 17% and managed to onboard new customers and enter new markets amidst pervasive travel restrictions. I am pleased to see the scalability of Aker BioMarine’s business model coming to life, with a 2020 adjusted EBITDA growth of 47%. Despite the challenges and curveballs thrown at us in 2020, Aker BioMarine delivers strong financial numbers for the year, giving me great optimism for a promising and innovation-filled future,” said Matts Johansen, CEO of Aker BioMarine.
Photo caption: Matts Johansen, CEO of Aker BioMarine.
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