Large new orders, especially from RAS facilities, increase activity in AKVA group

Aslak Berge

AKVA group pumped up revenue by 18 per-cent in the fourth quarter of 2020.

The aquaculture equipment manufacturer AKVA group had a turnover of EUR 76 million in Q4 2020, up from EUR 64 million in the same period the year before. EBITDA of EUR 5.2 million was a radical improvement from EUR -4 million in Q4 2019.

Net profit barely ended in the black, with EUR 0.3 million.

Cyber attacks
AKVA’s results were postponed by more than a month after the company was subjected to a cyber attack earlier this winter.

AKVA group had large new orders and landed contracts for EUR 100 million in the last quarter of the year, and now has an order book of EUR 190 million. A major contributor is the RAS contract with Nordic Aqua Ningbo in China.

The company announced a dividend of NOK 1 per share, which will be paid in April.

Land-based facilities
However, the main contributor to revenue is still traditional cage-based technology. From here, the equipment supplier billed EUR 58 million in the quarter.

However, land-based facilities are becoming increasingly important to the company.

In the last quarter of 2015, AKVA group generated EUR 15.5 million in revenue, as well as EUR 38 million in new orders.


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