Bli medlem
Bli medlem

Du är här


Aqua Bio Technology: Good first quarter for Aqua Bio Technology

Aqua Bio Technology ASA posted all time high revenues in the first quarter
2016. Income in the quarter was NOK 12.5 million, compared to NOK 9.1 million
last year.

ABT maintained its strong profitability in the first quarter. EBITDA ended at
NOK 6.1 million, corresponding to an EBITDA margin of 49 per cent. In last
year's first quarter EBITDA was NOK 5.2 million, reflecting a 58 per cent
margin. Operating costs in the first quarter 2016 were adversely affected by
a lawsuit from one of ABT's customers in the United States in March of this
year. The Company made provisions in the quarter for expected legal costs of
NOK 2 million. The lawsuit remains unresolved, while the parties are making
certain efforts to find a solution through dialogue. A continued process
however, will impact the legal costs of the Company until the process has
come to an end.

ABT's strategy is to utilize its resources and expertise to commercialize
third party biotechnology for applications in cosmetics. This fast growing
industry has an unmet need for new and sustainable ingredients.

In the first quarter, ABT entered into partnership with two manufacturers of
substances with potential significant value to the cosmetic industry. The
Company has initiated efficacy and safety testing processes, and expects to
launch the new products in the fourth quarter of this year.

For further information, please call Arvid Lindberg, CEO, telephone +47 9824

Aqua Bio Technology (ABT) has launched several cosmetic ingredients used in
skin care products globally. 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
novel technologies/ingredients for partners, for use in skin care products.
Aqua Bio Technology is listed on the Axess market of the Oslo Stock
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

ABT Q1 2016 report in Norwegian
ABT Q1 2016 press release
ABT Q1 2016 presentation


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Aqua Bio Technology via Globenewswire


Författare Hugin

Tala om vad ni tycker

Tala om vad ni tycker

Ni är just nu inne på en betaversion av nya aktiespararna. Lämna gärna feedback på vad ni tycker i formuläret nedan.