AKVA reports record revenue and strong order intake in Q2

The company today reported that EBITDA - a measure of operating profit -increased to NOK 145 million (£1.05m) in the quarter, from NOK 110m in the second quarter of 2024. Order intake ended at NOK 1.1 billion, up from NOK 888 million the previous year. The order book at the end of June was worth NOK 2.7bn.

High activity on sea and land

AKVA's Sea Based segment accounted for NOK 868m of revenue, up from NOK 842m last year. The segment delivered EBITDA of NOK 124m, corresponding to a margin of 14.3%. Land Based operations had the strongest growth, with a doubling of revenue from NOK 137m to NOK 264m. EBITDA improved from -1m NOK to NOK 13m.

Order intake in the Land Based segment was NOK 316m, more than double  the same quarter last year. Among other things, a new €20m contract with Icelandic salmon farmer Laxey was signed in May, as well as a new contract in July worth €8.5m.

Stable digital development

The digital segment (DI) had revenue of NOK 35m, on par with the previous year. EBITDA increased to NOK 8m, but EBIT was negative at -5m NOK. Order intake grew to NOK 81m, up from NOK 26m last year.

Solid financial position

At the end of the quarter, AKVA group had an equity ratio of 31.5% and cash/unused credit facility of NOK 473m. The company decided to pay a dividend of NOK 1.0 per share during the second half of 2025.

Still seeing growth opportunities

In its market update, the company pointed to strong progress for deepwater concepts (deep farming) and expects a continued high level of activity in the years ahead. The target for 2025 is a turnover of at least NOK 4bn and an EBIT margin of 6%.