Akva 4Q profit falls

Aquaculture technology group Akva on Wednesday reported fourth quarter revenues of NOK 174.3 million (USD 30.6 million, EUR 23.4 million), down from NOK 191 million (USD 33.5 million, EUR 25.6 million) in the same time period in 2011. In addition, the company saw a negative EBITDA of NOK 4.4 million (USD 772,000/EUR 590,000), a significant decline from the NOK 3.2 million (USD 561,600/ EUR 429,200) in the fourth quarter of 2011.

“4Q has as normal been a low season quarter for Akva Group,” said CEO Trond Williksen. “The quarter is characterized by low activity on deliveries to cage based aquaculture. However, we have experienced strong order intake for deliveries in 2013 and see positive signals in the market, especially in the Nordic region.

“With the acquisition of 70 percent of the Plastsveis AS the land based technology segment is significantly strengthened and well positioned for future profitable growth.”

During the quarter the activity level in Chile was reduced somewhat compared to last year, explained by slower activity in the market as customers are influenced by low prices on salmon, trout and coho. In emerging markets —exports outside Scotland and Turkey — there have been limited deliveries in the quarter.

“The interest from new markets is increasing and our efforts to develop emerging markets continue and still pose an exciting potential going forward,” the company said.


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