ABT Q4 2014 press release ABT Q4 2014 report in Norwegian ABT Q4 2014 presentationAqua Bio Technology ASA (Oslo Axess: ABT) today announced the fourth quarter and full year 2014 financial results. The Company maintains its strong profitability.
Aqua Bio Technology had revenues of NOK 5.8 million in the fourth quarter, which is an increase from last year's NOK 3.8 million. The fourth quarter revenues mainly reflect contractual payments from exclusivity partners.
The Company's EBITDA improved significantly, from NOK -0.7 million the previous year to NOK 1.9 million in the fourth quarter of 2014. The EBITDA margin in the fourth quarter was 32.6 per cent. Earnings before taxes ended at NOK 1.5 million, compared to NOK -2.1 million in the previous year's fourth quarter.
For the full year of 2014, ABT had revenues of NOK 23.1 million, against NOK 22.8 million the previous year. EBITDA for 2014 was NOK 6.5 million, compared to NOK 7.8 million in 2013. For the full year of 2014, the Company's EBITDA margin was 28.1 per cent.
Earnings before taxes for 2014 came in at NOK 1.6 million, against NOK 2.8 million last year. The Company's financial results for 2014 were adversely affected by a legal dispute in the United States, which represented approximately NOK four million in non-recurring costs. The case was irrevocably settled in July 2014.
"The strong 2014 results reflect our contracts with two exclusivity partners in the cosmetics industry. We are also currently exploring opportunities to expand our business. We will do this through in-licensing of third party technologies, and we also consider developing new ingredients for medical purposes," said ABT's CEO Arvind Lindberg.
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 i listed on the Axess market of the Oslo Stock Exchange.