Aker BioMarine is a wholly-owned subsidiary. The shareholding is valued at NOK 2.4 billion (book value). This equates to 5 per cent of Aker’s total assets at 31 December 2018. Kjell Inge Røkke, Øyvind Eriksen and Frank O. Reite represent Aker on the company’s board of directors.
AKER’S OWNERSHIP AGENDA
Aker’s key ownership priorities for Aker BioMarine are operational improvements, increased profitability, growth of sales of new products through new channels and in new geographical markets, achievement of synergies and continued investment in long-term growth. Aker’s aim is to build a larger, more robust company with a focus on effective operation and efficient supply chains in target industries.
Aker BioMarine is in a growth phase. This entails investment driven by Aker’s objective of building a vertically integrated ompany that controls the supply chain, from sustainable krill harvesting in the Antarctic to research, product development, production, logistics and marketing. In 2018, Aker converted a NOK 1 billion loan to Aker BioMarine into equity to strengthen the company’s balance sheet. Aker BioMarine achieved profitable growth in 2018, and the delivery of a new krill vessel in January 2019 will help improve the efficiency and capacity of the harvesting operation. In December 2018, the company was awarded a new krill licence for the Antarctic Ocean, bringing the total number of licences to four.
The company has built a long-term partnership with branded consumer goods companies, environmental protection organisations and researchers. Superba™ Krill Oil, the company’s brand ingredient in the omega-3 consumer market, hasestablished a strong position in the global market. Demand for QRILL™ Aqua, a feed supplement for the aquaculture industry, is strong, and the product range has been expanded with feed ingredients for pets. The omega-3 market developed positively in 2018, with rising sales of both Superba™ Krill Oil and QRILL™ Aqua.
Aker is working to maximise Aker BioMarine’s underlying value, and continuing to assess strategic opportunities for further growth, including making Aker’s investment more liquid.
For more information, please visit www.akerbiomarine.com .