Aker Biomarine ASA
OSE:AKBM
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Aker Biomarine ASA
OSE:AKBM
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Kunwu Jiuding Investment Holdings Co Ltd
SSE:600053
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Aker Biomarine ASA
Aker BioMarine AS operates as a biotech innovator and Antarctic krill-harvesting company which develops krill-based ingredients for nutraceutical, aquaculture, and animal feed applications. The company is headquartered in Lysaker, Akershus. The company went IPO on 2020-07-06. The company consists of two business segments: Ingredients and Brands. Under The Ingredients segment, the Company develops krillbased ingredients for human applications in the nutraceutical and dietary supplement space, and animal feed applications for aquaculture and pet food. Under The Brands segment, the Company has two companies: Lang Pharma Nutrition and Epion Brands. Lang Pharma Nutrition is a full service, mass market private label and corporate brand manufacturer within supplements. Epion Brands has its own consumer brand in the US market, Kori, being on the shelves of retailers. Aker BioMarine’s focus on sustainability inspired the launch of AION by Aker BioMarine, a circularity company dedicated to helping companies to recycle and reuse waste.
Aker BioMarine AS operates as a biotech innovator and Antarctic krill-harvesting company which develops krill-based ingredients for nutraceutical, aquaculture, and animal feed applications. The company is headquartered in Lysaker, Akershus. The company went IPO on 2020-07-06. The company consists of two business segments: Ingredients and Brands. Under The Ingredients segment, the Company develops krillbased ingredients for human applications in the nutraceutical and dietary supplement space, and animal feed applications for aquaculture and pet food. Under The Brands segment, the Company has two companies: Lang Pharma Nutrition and Epion Brands. Lang Pharma Nutrition is a full service, mass market private label and corporate brand manufacturer within supplements. Epion Brands has its own consumer brand in the US market, Kori, being on the shelves of retailers. Aker BioMarine’s focus on sustainability inspired the launch of AION by Aker BioMarine, a circularity company dedicated to helping companies to recycle and reuse waste.
Overall performance: Group delivered 6% revenue growth and 66% EBITDA growth in Q4, with adjusted EBITDA of $10.6 million for the quarter.
Human Health: Human Health Ingredients was the driver — Q4 revenue $32.7 million (up 28% YoY) and EBITDA $14.1 million (up 59% YoY); management has engaged Jefferies and Houlihan Lokey to evaluate a potential transaction in 2026.
New customer: A national Costco launch went to shelf in December and is performing above expectations; management expects Costco-driven volume to be a main contributor to 15%–30% HHI growth guidance for Q1 2026.
Consumer Health: Consumer Health Products revenue was weak in Q4, down 8% YoY, but EBITDA remained around $2.5 million and management expects single-digit growth in 2026.
Emerging businesses: Emerging business reported negative EBITDA of $0.5 million in Q4; Kori achieved cash neutrality in the quarter and spending has been cut to reach breakeven in 2026.
Balance sheet & cash: Cash ended at $16.9 million, total available liquidity $25 million, interest-bearing debt $157 million, leverage at 3.5x adjusted EBITDA and equity ratio at 37%.
CapEx & operations: Full-year CapEx was $9.5 million (above prior guidance of $7–8 million); Q4 CapEx included $2.3 million in Houston upgrades and a feasibility study is underway to expand Houston capacity toward ~3,000 tonnes.
