Knut Nesse, AKVA Group CEO.
Photo: AKVA Group.
Norwegian aquaculture technology supplier AKVA Group has reported record revenues for the second quarter of 2025, reaching NOK 1,167 million (EUR 98m / USD 114m), up 15% from the same period last year.
The company also reported EBITDA rose to NOK 145 million (EUR 12m / USD 14m), supported by higher sales and stronger margins.
The boost in revenue was largely due to AKVA's Land Based division, where revenues almost doubled to NOK 264 million (EUR 22m / USD 26m) from NOK 137 million last year. The business segment saw EBITDA rise to NOK 13 million (EUR 1m / USD 1m) and EBIT reach NOK 9 million (EUR 0.8m / USD 0.9m) in the second quarter.
The group's land-based order intake more than doubled to NOK 316 million (EUR 27m / USD 31m), AKVA confirmed, now accounting for around 60% of AKVA’s total order backlog at a value of NOK 1.63 billion (EUR 137m / USD 160m).
This figure was boosted by large contracts signed with Icelandic land-based salmon farming project Laxey, for development of its post-smolt infrastructure, which AKVA said are worth a combined EUR 28.5m.
Meanwhile, AKVA's Sea Based business also performed well, with revenue of NOK 868 million (EUR 73m / USD 85m) and improved profitability. Nordic sales increased, while activity in the Americas and Europe & Middle East declined.
AKVA said it sees continued momentum for “deep farming” solutions, having recently partnered with Norwegian cod farmer Ode to install several of its submersible Nautilus pens designed for deep-water operations.
AKVA's Digital business segment saw revenues remain stable at NOK 35 million (EUR 3m / USD 3m), though EBIT was still negative, the company reported.
The group is targeting revenues of at least NOK 4 billion (EUR 336m / USD 392m) with an EBIT margin of 6% in 2025.