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AKVA CEO Trond Williksen. (Photo Credit: AKVA group ASA)

AKVA reported the group's best semester

  (NORWAY, 8/15/2014)

AKVA group ASA says the results the group obtained in the second quarter this year indicate operations are stabilizing on higher volumes and margins. Besides, it states the period closed with record high order backlog.

From the financial viewpoint, the firm considers the first semester this year has been the best recorded so far.

Exploitation income reached a total of NOK 611 million (USD 99 million) in the first half of 2014 compared to NOK 492 million (USD 79.7 million) in the first half of 2013, and the operational EBITDA was NOK 56 million (USD 9 million), compared to NOK 31 million (USD 5 million) a year earlier.

In the second quarter, the group's incomes amounted to NOK 301 million (USD 48.7 million) [NOK 270 million (USD 43.7 million) in Q2 2013], with an EBITDA of NOK 24 million (USD 3.8 million) [NOK 20 million (USD 3.2 million) in the same period last year].

"AKVA group has experienced high activity in the second quarter of 2014. AKVA group's steady performance and growth continues from the previous quarter and has resulted in a solid EBITDA margin of 9.1 per cent in the first half of 2014. The high order backlog at the end of the second quarter of NOK 478 million (USD 77.4 million) and continued high market activity gives positive expectations for the financial performance in the quarters to come," AKVA group ASA CEO Trond Williksen pointed out.

AKVA's net profit in the second quarter was NOK 12 million (USD 1.9 million) after allowing for taxes of NOK 2.5 million (USD 45 million).

The firm also stressed that there is positive development in market activity in Chile, which put an end to previous quarters decline in revenues. Besides, in Canada and in the United Kingdom there was a first half with good margins and a solid order backlog apart from deliveries of large contracts to emerging markets that are proceeding according to plan.

Total assets and total equity amounted to NOK 796.2 million (USD 129 million) and NOK 364.9 million (USD 59 million) respectively, resulting in an equity ratio of 45.8 per cent at the end of Q2 2014, compared to 48.7 per cent the previous quarter.

AKVA expects demand in the Nordic market is still expected to be good in the next quarters despite the Russian import ban of food and fish.

Furthermore, the firm’s effort to build service and aftersales as a key business element in all markets and segments continues. 


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Information of the company:
Address: Nordlysveien 4 - PO Box 271
City: Bryne
State/ZIP: (NO-4349)
Country: Norway
Phone: +47 51 778 500
Fax: +47 51 778 501
E-Mail: [email protected]
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