Brief: Aqua Bio Technology 2019 EBITDA Loss At NOK 12.9 Million

Aqua Bio Technology ASA

15/04/2020 07:24

April 15 (Reuters) - Aqua Bio Technology ASA  ATBT.OL :
    * REG-2019 A DEMANDING YEAR FOR AQUA BIO TECHNOLOGY
    * EXPERIENCED A DEMANDING YEAR IN 2019, WITH SALES AT PAR
WITH
PREVIOUS YEAR
    * COMPANY'S INTERNATIONAL NETWORK OF DISTRIBUTORS FOR
SKINCARE
PRODUCTS WAS SIGNIFICANTLY EXPANDED, ALLOWING ABT TO REACH
MARKETS WITH A TOTAL OF 1.7 BILLION PEOPLE
    * NOK 1.3 MILLION OF REVENUES IN 2019, COMPARED TO NOK 1.2
MILLION
PREVIOUS YEAR
    * HAD EXPECTED A SIGNIFICANT SALES GROWTH LAST YEAR, HOWEVER
FAULTY PACKAGING DELIVERED BY A THIRD PARTY DELAYED SALES
THROUGHOUT YEAR
    * 2019 EBITDA CAME IN AT NOK -12.9 MILLION, COMPARED TO NOK
-37.6
MILLION IN 2018
    * YEAR-END RESULT FOR 2019 ENDED AT NOK -13.2 MILLION,
COMPARED TO
NOK -38.5 MILLION PREVIOUS YEAR
    * WHEN FINANCIAL SITUATION ALLOWS AND CONSUMER DEMAND IS
NORMALISED, ABT WILL BE READY TO LAUNCH ITS SKINCARE PRODUCTS IN
SEVERAL NEW MARKETS
    * BOARD OF DIRECTORS EXPECTS A LONG-TERM FINANCING OF
COMPANY TO
BE IN PLACE DURING 2020

Source text for Eikon:  ID:nGNE1ZQQYB 
Further company coverage:  ATBT.OL 

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