Hofseth Biocare ASA ( (HOFBF) ) has released its Q4 earnings. Here is a breakdown of the information Hofseth Biocare ASA presented to its investors.
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Hofseth Biocare ASA is a Norwegian company operating in the biotechnology and nutraceutical industry, focusing on the development and production of health ingredients derived from salmon, catering both to human and pet nutrition markets.
In its latest financial report, Hofseth Biocare ASA (HBC) highlighted a robust financial performance for the fourth quarter and full year 2024, marked by a significant increase in sales revenues, improved gross margins, and strategic advancements. The company reported a 35% year-over-year increase in full-year sales revenues, reaching NOK 257 million, with strong demand witnessed in both human and pet nutrition sectors.
Key highlights from the report include successful restructuring efforts that improved operational efficiency and scalability, and a notable shift towards higher-margin segments, particularly in the human B2B category which saw over 100% YoY growth in Q4. The company’s gross margins improved across all business segments, with B2B margins reaching 42% in Q4. HBC also secured record-high long-term contracts in the pet and feed segment, and made substantial progress in research and development, particularly with its bioactive peptides showing promising results for various health benefits.
Despite these achievements, HBC reported an operating loss of NOK 105.1 million for the year, although this was an improvement compared to the previous year’s loss. The company’s cash position strengthened with a positive cash flow from operations during the fourth quarter, and it plans to continue investing in high-margin growth areas and innovation.
Looking ahead, HBC remains focused on driving profitability through higher-margin products, executing its commercial strategy in key markets, and continuing its investment in innovative health solutions, aiming to create sustainable value for its stakeholders.
