AKVA Group
Norwegian aquaculture technology specialist AKVA Group has reported a strong start to 2025, with significant year-over-year growth in both revenue and profitability, according to its Q1 update.
In the first quarter, the group generated revenue of NOK 1,013 million, an increase of 29% compared to NOK 784 million in the same period last year. Operating profit (EBITDA) rose to NOK 113 million, up from NOK 67 million, supported by increased activity and improved project margins, particularly in the land-based segment, the company reported in a press release.
The aquaculture technology group's order intake also grew, reaching NOK 1.2 billion for the quarter, compared to NOK 917 million in the first quarter of 2024. This figure was boosted by a large contract AKVA signed with Cermaq Chile for a smolt facility, valued at approximately EUR 30 million. At the end of March, the company’s order backlog stood at NOK 2.8 billion.
AKVA reports that its "Sea Based" segment continues to account for the largest share of activity, with revenue of NOK 804 million, up from NOK 646 million the previous year, with profit margins in this segment also improving.
The Group also indicated that its "Land Based" segment also saw strong growth, with revenue rising from NOK 101 million to NOK 176 million, and a return to profitability. Meanwhile, AKVA's Digital business saw a slight drop in revenue to NOK 32 million and posted a negative EBIT, though EBITDA improved modestly.
Regionally, the Nordic market was a key driver of growth for AKVA Group, with revenue increasing from NOK 428 million to reach NOK 583 million in the first quarter. Meanwhile, revenue in the Americas rose slightly to NOK 153 million during Q1, while activity in Europe and the Middle East remained flat at NOK 68 million.
Looking ahead, AKVA said it foresees "continued strong momentum for deep farming concepts". The group has recently partnered with Norwegian cod farmer Ode to install several of its submersible Nautilus pens designed for deep-water operations, aiming to improve fish welfare and production conditions.
More broadly, the group said it anticipates "normalization" of the post-smolt market in Norway as the year progresses, and stated that it will continue "invest and improve our solutions" across all its business segments.
AKVA Group said it expects steady activity across all its business segments, aiming for full-year revenue of at least NOK 4 billion with a target EBIT margin of 6%.
