AKVA re­ports best first half ever

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AKVA Group has had its best first half ever in 2016, with rev­enue in the sec­ond quar­ter at NOK 408 mil­lion (€44.9 mil­lion), up from NOK 402 mil­lion in the same pe­riod last year. EBITDA was NOK 43 mil­lion (NOK 41 mil­lion).

The group also has its high­est ever or­der back­log of NOK 822 mil­lion.

‘AKVA Group con­tin­ues to be on track and has com­pleted the best sec­ond quar­ter and first half ever with re­gards to rev­enue, EBITDA and or­der back­log,’ said CEO Trond Wil­lik­sen.

‘The re­cent year’s trans­for­ma­tion of AKVA Group to be­come a bet­ter per­form­ing and more di­ver­si­fied group is re­flected in the Q2 re­sults. Op­er­a­tionally and fi­nan­cially AKVA group is well po­si­tioned for fur­ther growth.’

Cage based tech­nol­ogy (CBT) NORDIC CBT had a good per­for­mance in Q2, the main prod­ucts be­ing AKVAs­mart sen­sors and feed sys­tems, barges, Po­lar­cirkel cages, ser­vice and rental.

There has been low ac­tiv­ity in Chile in Q2 and AKVA also ex­pe­ri­enced re­duced ser­vice sales in the quar­ter.

Canada had an un­usu­ally slow quar­ter with some shift of de­liv­er­ies and rev­enue to next quar­ters.

Aus­tralia con­tin­ues to be a small, but prof­itable op­er­a­tion.

The UK had a de­cent first half of the year and con­tin­ues to have a high level of OPEX based rev­enue.

Turkey had a very good first half of the year and the group is ex­pe­ri­enc­ing in­creased ac­tiv­ity in the sea bass and sea bream in­dus­try in the Mediter­ranean.

Ex­ports to emerg­ing mar­kets ex­pe­ri­enced a de­cent quar­ter, with in­creased ac­tiv­ity in some mar­kets, es­pe­cially in Iran. Emerg­ing mar­kets are dom­i­nated by a few but large con­tracts.

Soft­ware AKVA group Soft­ware and Wise laus­nir ehf ex­pe­ri­enced im­proved per­for­mance year on year in Q2. Wise Blue, a Nor­we­gian sub­sidiary of Wise, is a small but prof­itable busi­ness. Soft­ware con­tin­ues to in­vest in new prod­uct mod­ules, which is ex­pected to strengthen the fi­nan­cial per­for­mance of the soft­ware seg­ment fur­ther. Land based tech­nol­ogy (LBT) BOTH Plastsveis and Aquatec So­lu­tions had a good first half of 2016. AKVA group Den­mark A/S had an­other de­cent quar­ter, but there is still po­ten­tial for fur­ther im­prove­ments fi­nan­cially.

The land based seg­ment ended the quar­ter with a record high or­der back­log, 53 per cent of the to­tal in the group. Land based in­creased its rev­enues year on year by 74 per cent and was 23 per cent of to­tal rev­enues in Q2 2016.

Or­der back­log THE or­der in­flow in Q2 was NOK 533 mil­lion (€57.62 mil­lion), up from NOK 348 mil­lion last year.

The or­der back­log at the end of Q2 2016 was NOK 822 mil­lion (NOK 493), the high­est or­der back­log ever for AKVA group.

At­lantis Sub­sea Farm­ing IN part­ner­ship with the com­pa­nies Sink­aberg-Hansen and Eger­sund Net, AKVA es­tab­lished At­lantis Sub­sea Farm­ing in Fe­bru­ary with the pur­pose of de­vel­op­ing sub­mersible fish farm­ing fa­cil­i­ties for sal­mon on an in­dus­trial scale.

At­lantis Sub­sea Farm­ing has ap­plied for six devel­op­ment li­cences to en­able large-scale devel­op­ment and test­ing of the new tech­nol­ogy and op­er­a­tional con­cept.

It is now await­ing a de­ci­sion from the Nor­we­gian Direc­torate of Fish­eries.

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