2012 the breakthrough year for Aqua Bio Technology

ABT recently 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 XL™ 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 XL™. Product sales are expected to provide additional revenues.

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