In contrast, the AKVA Group delivered quarterly revenue in Q4 2024 of MNOK 792 (800), a decrease of 1% compared to Q4 2023.
AKVA Group
AKVA Group has reported that its order intake for Q4 2024 increased from NOK 718 million (€61.6 million) to almost NOK 1.1 billion (€94.4 million). However, revenues saw a slight decrease to NOK 792 million (€67.9 million), compared to NOK 800 million (€68.6 million) in Q4 2023.
This is primarily due to its Sea-Based Technology (SBT) segment generating the best quarterly total in its history (NOK 946 million / €81.2 million) driven by sales of deep-water farming technology.
The aquaculture technology group announced an agreement with Cermaq Chile to build a new RAS smolt facility in Los Lagos Region. The value of the contract amounts to 30 million euros.
Furthermore, it announced last month the award of a contract with Laxey for module 2 of a re-use grow-out facility for Atlantic Salmon at Westman Islands (Vestmannaeyjar), Iceland. The contract value is approximately EUR 20 million (USD 20.5 million).
AKVA already partnered with the Icelandic land-based farmer in April 2024 to develop a Recirculating Aquaculture System (RAS) facility in the Westman Islands.
For the full year of 2024, AKVA revenues increased from NOK 3.4 billion (€291.8 million) in 2023 to NOK 3.6 billion (€308.9 million). Additionally, EBITDA increased from NOK 263 million (€22.6 million) to NOK 453 million (€38.9 million).
In contrast, the order intake went down from over NOK 4.3 billion (€369 million) in 2023 to almost NOK 3.7 billion (€317.5 million) – down from previously.
Regarding the Digital business, the company confirmed that the cost base remains high compared to the current activity level, and therefore, profit margins remain low.
"The outlook for the post-smolt market in Norway is still soft but is expected to improve gradually in 2025," AKVA's statement reads.
