Hofseth BioCare had
operating revenues of NOK 16.9m (27.9m) in the third quarter of
2018. Sales revenues for the first nine months of 2018 amounted to
NOK 46.3m (39.8m).
Cost of Goods Sold (CoGS)
amounted to NOK 14.3m (20.9m) in the period. Operational profit
(EBITDA) for the third quarter 2018 was negative NOK 14.7m
(6.3m).
Cash and cash equivalents
increased by NOK 47.5m during the quarter, leaving total holding of
cash and cash equivalents at NOK 58.0m by the end of the
period.
In the third quarter of
2018, 932 tons of finished goods in total were manufactured at all
HBC plants, including the capacity lease volumes, compared to 1,027
tons in the second quarter of 2018. HBC Berkåk produced 321 tons of
finished products in the third quarter, including the capacity
lease manufactured products, compared to 322.3 tons in the previous
quarter.
HIGHLIGHTS IN THE THIRD
QUARTER 2018
· Further improved
yields and quality on CalGo® after installing a new processing line
at the Midsund plant.
· Started product
launch discussions for ProGo® and CalGo® finished products in the
US. Product development started during summer and is ongoing
together with customer.
· Increased customer
activities after summer, resulting in high marketing and sales
activities in USA and Asia
· HBC finalized the
private placement and the subsequent offering and raised a total of
approx. NOK 138m.
Please find the Third
Quarter 2018 Financial Report attached.
For further information,
please contact:
Roger Hofseth, CEO of
Hofseth BioCare ASA
Mob: +47 95147941
E-mail:
rh@hofseth-as.no
Jon Olav Ødegård, CFO of
Hofseth BioCare ASA
Mob: +47 93632966
E-mail:
joo@hofsethbiocare.no
About Hofseth BioCare
ASA:
HBC is a Norwegian biotech
company that offers high-value ingredients and finished products
for humans and pets. The company is founded on the core values of
sustainability, traceability and optimal utilization of natural
resources. Through an innovative hydrolysis technology, HBC is able
to preserve the quality of salmon oil, proteins and calcium,
prepared of fresh salmon off-cuts. HBC's objective is to contribute
to the efficient use of marine resources and deliver quality
products for ingredients and finished consumer products in the
nutrition market.
Hofseth BioCare's
headquarters are located in Ålesund, Norway with branches in Oslo,
Chicago, Mumbai and Tokyo. HBC is listed on Oslo Stock Exchange
Axess list with ticker "HBC". More information about Hofseth
BioCare at www.hofsethbiocare.com and
www.facebook.com/hofsethbiocare
This information is subject
to the disclosure requirements pursuant to section 5-12 of the
Norwegian Securities Trading Act.