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2012 the breakthrough year for Aqua Bio Technology

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13 February 2013

Aqua Bio Technology ASA (Oslo Axess: ABT) today announced its 2012 financial results. The Company had its commercial breakthrough in 2012 and posted revenues of NOK 20.3 million for the year. ABT’s revenues the year before were NOK 0.5 million.

Contracts with two US based customers are the main reason for the commercial success. Aqua Bio Technology’s lead ingredient Aquabeautine XLTM is now included in new skincare products being widely marketed.

Aqua Bio Technology’s EBITDA for 2012 ended at NOK 8.0 million, compared to NOK -8.1 million in 2011. The company’s net result for the year was NOK 0.9 million, against NOK -13.5 the previous year.

For the fourth quarter alone, ABT posted revenues of NOK 3.4 million and an EBITDA of NOK 0.2 million. Net result for the fourth quarter was NOK -2.7 million.

The contracts secure ABT total revenues of more than NOK 120 million in the period 2012-2017, in the form of exclusivity and minimum royalty payments for Aquabeautine XLTM. Product sales are expected to provide additional revenues.

Aqua Bio Technology launched three new products in 2012. Like Aquabeautine XLTM these are sustainable, marine based ingredients for cosmetics. The new products have been well received by the market. The cosmetics industry is constantly seeking natural and sustainable alternatives to the petroleum based ingredients currently used in cosmetics. ABT’s range of ingredients is entirely marine based and holds unique features, documented through extensive trials.

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, Dermaclarine and Beauty Propelline 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.