The first quarter of 2024 continued on the positive trend for HBC. Sales revenues came in at NOK 52m vs NOK 44m last year, a growth of 17 % YoY. The underlying growth we are seeing is coming from both the ingredients business and finished products channels.

The ingredients business continues to have solid demand growth especially for our core petfood products, and we have seen increased demand for our premium pure SPH product within this segment. We are also excited to have launched two new products in our Brilliant Petcare portfolio.

Our R&D team continue to deliver good results. We have successfully completed various analyses, including the bioavailability assessment of marine collagen in joint health and the characterization of the anti-diabetic effects of our bioactive peptides. These findings not only validate the efficacy of our products but also secure our R&D innovations and future market expansion.

HBC had gross operating revenues of NOK 52.4m (44.8m) in the first quarter and EBITDA at NOK -16.2m (-28.5m). Cash flow from operations during the first quarter was NOK -19.5m, compared to NOK 0.1m in first quarter last year. This change is due to payments now made to our main raw material supplier, rather than build-up of payables. Cash and cash equivalents, after investment and financing activities, were stable compared to the same period last year, leaving total cash balance at NOK 22.1m at the end of the period. Total equity amounted to NOK 155.7m (112.7m) corresponding to an equity ratio of 39.8 % (28.8 %) for the Group.

Highlights in the first quarter

In Q1 2024, we continued on our positive growth trend, with sales revenues of 52 million NOK, up 17 percent from the first quarter last year. This growth is despite a general downturn in the salmon oil market, as we have seen high interest on our human grade salmon oil as well as our protein offering. Gross margin was at 48 percent in the quarter.
The Finished Goods business demonstrated a positive performance and two new products in the Brilliant Petcare portfolio were launched.
Our research and development efforts continue, showing encouraging results for research on all of our ingredients.
The transaction converting accounts payables to new issued preference B-shares was concluded first week of January 2024
Please find the HBC Q1 2024 Financial report attached.

For further information, please contact:

Christel Kanli, CFO Hofseth BioCare ASA

Phone: +47 416 23 188

E-mail: ck@hofsethbiocare.no

About Hofseth BioCare ASA:

HBC is a Norwegian consumer and pet health ingredient supplier and an incubator for new pharmaceutical drug leads. Research is ongoing to identify the individual elements within its ingredients that modulate inflammation and the immune response with pre-clinical studies ongoing in multiple clinics and university research labs. Lead clinical and pre-clinical candidates are focused on developing an oral treatment for inflammatory disease driven by eosinophils (a type of white blood cell). Clinical trial work with the oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD ("smokers lung").

Other leads are focused on using the Company's bioactive peptides as a Medical Food for the protection of the Gastro- Intestinal (GI) system against inflammation (including ulcerative colitis and the orphan condition necrotizing enterocolitis). The Company is founded on the core values of sustainability, optimal utilization of natural resources and full traceability. Through innovative and patent protected hydrolysis technology, HBC can preserve the quality of the lipids, proteins and calcium from fresh salmon off-cuts.

HBC's headquarters are in Ålesund, Norway with offices in Oslo, London, Zürich, New Jersey and Palo Alto, CA.

HBC is listed on Oslo Børs with ticker "HBC". More information about HBC at hofsethbiocare.com

This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act

https://newsweb.oslobors.no/message/621147

INNGÅTT DISTRIBUSJONSAVTALE I KINA

James Berger, Chief Commercial Officer for HBC, said: "We are excited to take
this important step in our partnership with Lithy, to establish the additional
distribution in China of our science-led marine nutrition ingredients and
further develop product formulations that are ready-to-go to market via brand
owners."

Dette var positive nyheter som markedet tydeligvis ikke skjønner noe av
Tørr ikke tenke på hvor høyt dette kan gå dersom salget skulle ta av i Kina

Dagens tall forteller oss at de er i rute i forhold til den guidede salgsveksten, men de havner fortsatt i minus totalt sett;

"HBC had gross operating revenues of NOK 80.4m (76.4m) in the second quarter and NOK 132.8m (121.2m) for the half year. Adjusted for the sale of assets in the second quarter, sales revenues were NOK 72.2m (50.7m) for the quarter, representing an increase compared to the same quarter in 2023 of 42 percent"

https://investornytt.no/hva-er-og-gjor-hofseth-biocare/

Oslo (Infront TDN Direkt): Hofseth BioCare har sammen med sine datterselskaper styrevedtatt å starte et prosjekt for å bygge et andre hydrolyseanlegg i Berkåk i Norge.

Det fremgår av en melding fra selskapet torsdag.

Den planlagte kapasiteten på Berkåk-anlegget vil være 2,5 ganger dagens kapasitet på selskapets Midsund-anlegg, opplyses det.

Noe på gang nå 🤔🤔

🚀🚀🚀

ledelsen laster opp 700 000stk aksjer.

Hofseth Biocare ASA: PRIMARY INSIDER NOTIFICATION
12 des. 15:07 ∙ Global Newswire
Christoph Baldegger, primary insider and member of the Board of Directors in Hofseth BioCare ASA ("HBC") has today purchased 700,000 shares in HBC at an average price of NOK 1.202837 per share.

As a result of the transaction, Mr. Baldegger holds 1,500,000 shares personally and 1,747,853 shares indirectly through the Bonafide fund, in HBC equal to approximately 0.82 % of the total outstanding A-shares with voting rights.

Please see the attached notification form for further information.

Contact:

Jon Olav Ødegård, CEO of Hofseth BioCare ASA

Phone: +47 936 32 966