Bryne, Norway-based aquaculture technology and services firm Akva Group ASA on Thursday reported its “best first half ever” with high revenues and solid margins.
First half (1H) revenues totaled NOK 301 million (USD 48.9 million; EUR 36.5 million) with an EBITDA of NOK 24 million (USD 3.9 million; EUR 2.9 million). Its order backlog is also the best ever at the end of a second quarter.
"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 percent (6.2 percent) in the first half of 2014,” said CEO Trond Williksen. “The high order backlog at the end of the second quarter of NOK 478 million (USD 77.7 million; EUR 58.1 million) and continued high market activity gives positive expectations for the financial performance in the quarters to come.”
Record-high revenue and margins in the Nordic segment have continued and while there is positive development in market activity in Chile the company said it will monitor the development closely. Its Canada and UK operations had good margins and a solid order backlog.
Akva’s outlook is positive in all market segments, the company reported, noting that demand in the Nordic market is still expected to be good despite turmoil after the Russian food and fish embargo.
Akva group had a turnover of NOK 919 million (USD 149.5 million; EUR 11.7 million) in 2013. The Corporate Headquarter is in Bryne Norway.