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Hofseth BioCare (HBC) investor relations material
Hofseth BioCare Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary22 Aug, 2025
Executive summary
Q2 2025 was a transitional quarter with lower revenues but significant gross margin expansion to 46% from 34% year-over-year, reflecting a strategic shift toward higher-value human and pet health products.
Operational EBITDA turned positive at NOK 1.3 million, up from NOK -2.5 million in Q2 2024, despite one-time restructuring charges.
Human B2B segment saw 180% revenue growth year-over-year, driven by strong demand in Europe, China, and Southeast Asia, and a major global product launch.
Consumer and Pet Health (B2C) revenues were flat, but net profitability improved by 10%, with growth expected to accelerate in H2 as supply constraints ease.
R&D pipeline advanced with key studies in bone, joint, cognitive, and oncology health, and new publications and awards for flagship products.
Financial highlights
Q2 2025 operating revenue was NOK 68.4 million, down from NOK 80.4 million in Q2 2024; H1 2025 revenue was NOK 129.3 million, nearly flat year-over-year.
Gross margin rose to 46% from 34% in Q2 2024, reflecting a shift away from commodity sales.
EBITDA was NOK -5.4 million, but adjusted Operational EBITDA was NOK 1.3 million, excluding NOK 3.0 million in restructuring and other non-recurring costs.
EBIT for Q2 was NOK -14.9 million (Q2 2024: NOK -11.6 million); net financial items worsened to NOK -10.1 million due to new loans.
Cash flow from operations was negative NOK 34.2 million, mainly due to increased inventory and changes in receivables/payables.
Cash and cash equivalents at quarter-end were NOK 68.0 million, with total liquidity (including credit lines) at NOK 76.5 million.
Equity ratio at group level dropped to 0.1% (Q2 2024: 35.7%), but parent company Covenant Equity Ratio remained compliant at 29.4%.
Outlook and guidance
H2 2025 is expected to deliver over 20% revenue growth in B2C, with supply chain constraints anticipated to be fully resolved by Q4.
Softgels business forecasted to grow over 50% in the next 12 months as new customer listings and supply improvements take effect.
Continued focus on margin expansion, operational discipline, and science-led innovation to drive long-term value creation.
B2C positive EBITDA timeline?
ProGo® Alzheimer's study: China regulatory impact?
Berkåk expansion: raw material capacity impact?
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Next Hofseth BioCare earnings date
Q3 20257 Nov, 2025
Next Hofseth BioCare earnings date
Q3 20257 Nov, 2025
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Frequently asked questions
Hofseth BioCare ASA is a biotechnology company that focuses on the production of high-value ingredients derived from fish. The company develops and commercializes sustainable biomarine products for human and pet health. Its product portfolio includes bioactive peptides, oils, calcium, and proteins, which are used in a variety of industries, including dietary supplements, clinical nutrition, and functional foods. Hofseth BioCare emphasizes utilizing fresh raw materials and applying a gentle enzymatic hydrolysis process to retain the nutritional properties of the fish. The company is headquartered in Ålesund, Norway, and its shares are listed on the Oslo Stock Exchange.
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