Photo: AKVA Group
Norwegian aquaculture technology supplier AKVA Group has reported revenue of NOK 1.19 billion (€107.8m / $123.2m) for the second quarter of 2026, up 2% from the same period last year, as both its earnings and order intake increased.
The company reported EBITDA of NOK 179 million (€16.2m / $18.5m), an increase of NOK 34 million (€3.1m / $3.5m), or 23%, compared with the second quarter of 2025.
Meanwhile, EBIT rose by 25% to NOK 111 million (€10.1m / $11.5m), giving the company an EBIT margin of 9.4%, compared with earnings of NOK 89 million a year earlier.
AKVA attributed the improvement to economies of scale, a favourable product mix in its Sea Based division and continued project execution in the Land Based segment.
The group reported that its order intake increased by 28% to NOK 1.35 billion (€122.0m / $139.3m), from NOK 1.05 billion in the corresponding quarter of 2025. At the same time, AKVA's order backlog stood at NOK 3.0 billion (€271.8m / $310.5m) at the end of June, up from NOK 2.71 billion a year earlier and NOK 2.83 billion at the end of the first quarter.
Of its roster of backlog orders, land-based projects accounted for 46% of the backlog. This segment continues to be a major focus area for the group, generating revenue of NOK 326 million (€29.6m / $33.8m) during the quarter, as activity remained high across the group.
“Q2 2026 reflected the continued strong commercial momentum across all business segments for AKVA. We are pleased with the strong order intake and development of the order backlog, which provides a strong foundation for the rest of the year and into 2027,” said CEO Knut Nesse.
Amongst its major land-based projects is a €28 million contract signed with LAXEY last April for the construction of a smolt facility in Vestmannaeyjar, Iceland, which, as WeAreAquaculture reported in June AKVA Group confirmed was going ahead after the Icelandic land-based aquaculture company secured the necessary funding.
The trading update comes as the company continues a strategic review that could result in a sale of the group or another corporate transaction. AKVA said the process is expected to conclude during the autumn, in line with its previous timetable.
The aquaculture technology provider announced it was embarking on the review in April, saying it would consider options including a potential sale of the company.
In its first-quarter report in May, the group said the initial stage of the process had attracted “high-quality interest”, with discussions focused on a possible sale of the whole company as a platform. However, it said at the time that engagement remained at an early stage and that no decision had been made.
AKVA will publish its full Q2 financial report on 14 August.