Hofseth BioCare sees improved margins despite revenue dip

Hofseth BioCare reported total operating revenues of NOK 54.9 million in Q3 2025, down from NOK 67.9 million in the same period last year, primarily due to lower commodity prices and a weaker U.S. dollar. Despite this, gross margin improved to 35% from 28%, reflecting a strategic shift towards high-value, specialty ingredients. The Midsund plant achieved a record quarterly throughput of 5,288 metric tonnes of raw material, confirming a stable 24,000 tonnes p.a. capacity.

EBITDA for the quarter was NOK -21.1 million, with an operational EBITDA* of NOK -12.9 million, showing a slight improvement from NOK -13.9 million in Q3 2024, excluding non-recurring and strategic development costs. Cash and cash equivalents stood at NOK 65.5 million at quarter-end, with total liquidity, including credit facilities, at NOK 67.0 million. A private placement completed in October 2025 further strengthened the company's financial position.

Key highlights include a 200% year-over-year increase in Human Nutrition B2B sales, driven by OmeGo® and ProGo®, with ProGo® receiving the NutraIngredients-USA "Healthy Aging" Award. The Pet Nutrition B2B segment saw momentum with SPH and the introduction of the new collagen ingredient NT-II™. Clinical studies confirmed CalGo®'s bone-protective effects, and AecorBio Inc. achieved promising preclinical results in oncology and asthma. Consumer & Pet Health (B2C) revenues grew 30%, supported by new European listings and product extensions.