Aker BioMarine releases 2015 annual report

Krill oil has made some important gains in the omega-3 market during the past few years. In fact, data recently collected and analysed by Aker BioMarine show that krill oil’s omega-3 market share increased from 12% in 2012 to 20% in 2016.

Furthermore, consumer awareness of krill oil among omega-3 users increased from 20% in 2012 to nearly 50% in 2016. While pockets of the omega-3 market contracted for various reasons during the same period, Aker BioMarine is confident the best days for krill oil are ahead.

According to the company’s latest Annual Report, 2015 was considered to be a historic year for Aker BioMarine, marking its most exciting growth phase since launching the original Superba Krill Oil several years ago. As the krill oil category evolves, Aker BioMarine will continue to develop new products and different oil grades, helping to diversify product portfolios, while meeting the needs of consumers globally.

'In 2015, we set a clear course for our passionate and capable organisation,' said Matts Johansen, CEO, Aker BioMarine. 'We started this journey to walk the talk by driving change in our culture, simplifying business processes and aligning our organisation towards one common goal and strategy. We aim to be an integral part of our customers’ success, we will continue to drive scientific discovery and innovation, and we will further strengthen our product quality and cost leadership in the Antarctic Krill supply chain.'

Aker BioMarine generated $105 million in revenue in 2015, which yielded an EBITDA of $25.7 million. Furthermore, many of Aker BioMarine’s customers experienced growth and commercial success with their krill products.

The Innovation Team at Aker BioMarine has uniquely overcome previously unsolved industry challenges:

• the Houston krill oil facility is now fully operational; it is more than triple the size of the next largest krill oil supplier
• the company launched Flexitech, a patented technology exclusive to Aker BioMarine in the omega-3 space, which enables the company expand its product line and bring ongoing innovation to the krill oil market
• the company launched Superba 2, which features improved taste, smell and visual appearance
• the company launched Superba Boost, a new krill oil concentrate that contains higher amounts of phospholipids, choline and omega-3s, which qualifies for 4 EFSA claims in the EU
• the company was granted important US patents, further securing its position in the market
• it established an Open Innovation Program to involve diverse professionals and organisa­tions in the development of innovative krill products.

Sustainability remains at the core of Aker BioMarine’s business model:

• in 2015, Aker BioMarine strengthened its partnership with the World Wide Fund for Nature (WWF-Australia) to bring it closer to activities in the Southern Ocean
• Aker BioMarine, along with several NGOs established the Antarctic Wildlife Research Fund (AWR) to facilitate and promote more research on the Antarctic ecosystem
• the Marine Stewardship Council (MSC) renewed Aker BioMarine’s sustainable krill harvesting certification for another 5-year period (2015-2020)
• the Sustainable Fisheries Partnership (SFP) gave Aker BioMarine’s fishery an 'A' rating in the 2015 Reduction Fisheries Sustainability Overview
• Nutrition Business Journal’s January 2015 edition featured Aker BioMarine as the winner of its Business Achievement Award in the category of Sustainability, making it the first omega-3 company to receive this award
• Superba Krill oil received Non-GMO Project Verification.

'With our passion for and focus on krill, we believe we are in the best position to combine comprehensive product knowledge with market insight,' Johansen said. 'Accordingly, in 2015, we decided to build a new marketing and communication approach, delivering insight-based concepts and ideas for our customers. Even if this is a new way of working for Aker BioMarine and for many of our customers, we believe that in the long term this is the only way for an ingredient company to succeed.'

Mr Johansen added: 'Aker BioMarine is a 10-year-young biotech­nology company. Our sophisticated products and processes have only scratched the surface as to the future health and nutrition benefits that Antarctic Krill’s bioactive components and molecules are capable of providing.'