Norwegian aquaculture technology firm AKVA Group realized relatively stagnant growth in both the fourth quarter and the full year of 2024 but has its sights set on achieving more measurable gains this year.
AKVA brought in Q4 2024 revenues of NOK 792 million (USD 71.1 million, EUR 67.9 million), compared to NOK 800 million (USD 71.8 million, EUR 68.6 million) in Q4 2023. Its order intake for the period, however, climbed from NOK 718 million (USD 64.5 million, EUR 61.6 million) to almost NOK 1.1 billion (USD 99 million, EUR 94.4 million), with its Sea-Based Technology (SBT) segment generating a best-ever quarterly total of NOK 946 million (USD 85.1 million, EUR 81.2 million), driven by sales of deep-farming technology.
Though it brought in more orders, actual revenues earned by SBT in the quarter totaled NOK 542 million (USD 48.7 million, EUR 46.5 million), which was down from NOK 618 million (USD 55.5 million, EUR 53 million) a year previously. The segment’s EBITDA and EBIT ended at NOK 55 million (USD 4.9 million, EUR 4.7 million) and NOK 15 million (USD 1.3 million, EUR 1.3 million), respectively, compared with NOK 55 million and NOK 17 million (USD 1.5 million, EUR 1.5 million) in 2023.
LBT revenues for the quarter totaled NOK 217 million (USD 19.5 million, EUR 18.6 million), up from NOK 142 million (USD 12.8 million, EUR 12.2 million) previously. Its EBITDA and EBIT ended the period at NOK -14 million (USD -1.3 million, EUR -1.2 million) and NOK 12 million (USD 1.1 million, EUR 1 million), respectively, compared to NOK -15 million (USD -1.3 million, EUR -1.2 million) and NOK -18 million (USD -1.6 million, EUR -1.5 million) in Q4 2023.
Group-wide EBITDA increased by NOK 35 million (USD 3.1 million, EUR 3 million) to NOK 76 million (USD 6.8 million, EUR 6.5 million), while profit before tax ended the quarter at NOK -15 million (USD -1.3 million, EUR -1.3 million) – up from NOK -53 million (USD -4.8 million, EUR -4.5 million) in Q4 2023.
For the full year of 2024, AKVA reported revenues of NOK 3.6 billion (USD 323.3 million, EUR 308.9 million), compared to 2023’s NOK 3.4 billion (USD 305.3 million, EUR 291.8 million), an EBITDA of NOK 453 million (USD 40.7 million, EUR 38.9 million) – up from NOK 263 million (USD 23.6 million, EUR 22.6 million) – and an order intake of almost NOK 3.7 billion (USD 332.3 million, EUR 317.5 million) – down from over NOK 4.3 billion (USD 386.2 million, EUR 369 million) previously.
Delivering AKVA’s Q4 2024 results on 14 February, AKVA CEO Knut Nesse said the company was pleased with the financial performance over the past year and the progress achieved following a couple of difficult years...
