Krill Oil Fuels Aker BioMarine's Growth
Aker BioMarine Reports Revenue Increase, Boosted by Krill Oil and New Major Contracts
Anonymous
Key Points
1
The Human Health Ingredients (HHI) segment delivered EBITDA of $15.9 million in Q2, up 14% year over year, while the company’s overall adjusted EBITDA declined to $12.9 million (down 4%), signaling stronger profitability within HHI despite broader margin pressures.
2
A Lysoveta supply contract worth USD 4 million in first-year revenues was secured, adding to the company’s Lysoveta portfolio expansion alongside its krill oil growth.
3
The company won a major Superba Krill Oil contract; deliveries are expected to begin in Q4 2026 and, on a full-year run-rate basis, would rank among its largest customer relationships to date.
4
Houston production was lower in the quarter but stabilized back to normal levels by quarter-end, with production normalization contributing to the observed dynamics in QHP sales.
5
Understory and broader strategic moves are ongoing, with a mandate to explore strategic alternatives for the HHI unit potentially reshaping the group's portfolio and capital structure in 2026.
Aker BioMarine posted Q2 2026 revenue of $57.9 million, a 5% year-over-year gain, driven by a 21% surge in krill oil sales to $31.5 million, according to Investing.com. But the Norwegian marine ingredients company fell short of analyst expectations by roughly $1.1 million, and overall adjusted EBITDA slipped 4% to $12.9 million.
The mixed quarter was brightened by two major contract wins. Aker BioMarine secured a Lysoveta supply deal worth $4 million in first-year revenues and landed a large new Superba Krill Oil customer, Salmon Business reported. Deliveries from the Superba contract are set to begin in Q4 2026.
Krill Oil Powers Human Health Ingredients to 17% Growth
The Human Health Ingredients (HHI) segment was the clear standout. Revenue rose 17% to $34.1 million, with krill oil sales jumping 21% to $31.5 million, according to Investing.com. Strong volumes and a better product mix drove the gains. HHI's adjusted EBITDA climbed 14% to $15.9 million, showing the unit is highly profitable even as the broader company faces margin pressure.
Management said it expects continued year-over-year growth in HHI throughout 2026. The segment's performance is drawing strategic attention. The company has launched a formal process to explore strategic alternatives for the HHI unit, a move that could reshape Aker BioMarine's portfolio and capital structure, Salmon Business noted.
Consumer Health Products Drag as U.S. Retail Sales Weaken
The Consumer Health Products (CHP) segment told a different story. Revenue fell 6% to $26.4 million, weighed down by softer U.S. retail sales and a marketing repositioning of the Epion brand, according to Salmon Business. Adjusted EBITDA for the unit dropped to just $1.1 million, a sharp contrast to HHI's $15.9 million.
Production at the Houston facility also ran below normal levels during the quarter. That added pressure to CHP margins. However, output returned to normal by quarter-end, Investing.com reported. Management expects modest growth in CHP for the full year, suggesting confidence in a gradual recovery.
New Superba Contract Could Rank Among Largest Customer Wins Ever
The new Superba Krill Oil customer is a big deal. On a full-year run-rate basis, the contract would rank among Aker BioMarine's largest customer relationships to date, Salmon Business reported. The deal could contribute $10–12 million in annual revenue and $6–7 million in adjusted EBITDA once deliveries begin in Q4 2026.
The win is seen as a major risk-reducer for the company's growth outlook. Combined with the $4 million Lysoveta supply deal, Aker BioMarine is adding recurring, high-margin revenue streams. These contracts strengthen the ingredient portfolio at a time when the CHP segment is under pressure.
Strategic Review of HHI Unit Could Reshape Aker BioMarine in 2026
Aker BioMarine is not just managing the current quarter. The company has a mandate to explore strategic alternatives for its HHI unit, which could include a sale, partnership, or other capital structure changes, Investing.com reported. Given HHI's 14% EBITDA growth and dominant revenue share, any deal would likely command significant attention from buyers.
The Q4 Superba delivery ramp, Houston's full production recovery, and the ongoing HHI review make the next two quarters pivotal for the company. Management's tone was cautiously optimistic, pointing to growth in both segments for the full year even as margin headwinds persist.
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