AKVA CFO Simon Nyquist Martinsen quits

Published on
February 4, 2020

Aquaculture technology and services provider AKVA Group ASA has announced that Simon Nyquist Martinsen has resigned from his position as chief financial officer.

Martinsen will continue to serve as CFO through his six months’ notice period, the company said.

This isn’t the only change off senior management at AKVA in recent months. In December last year, Knut Nesse was appointed CEO of the group on a permanent basis, having taken over as interim CEO a month earlier following the resignation of Hallvard Muri.

Last month, AKVA issued a profit warning for the fourth quarter of 2019, citing lower than projected revenues from its Land-Based segment for the downturn.

The company’s full Q4 2019 results are scheduled to be published on 14 February, but based on preliminary assessment its recent estimate is that its losses before interest and taxes (EBIT) will be in the range of NOK 25 million to NOK 30 million (USD 2.7 million to USD 3.3 million, EUR 2.4 million to EUR 2.9 million).

It said this would imply a full-year EBIT of NOK 136 million to NOK 141 million (USD 14.7 million to USD 15.3 million, EUR 13.3 million to EUR 13.8 million), compared with NOK 130 million (USD 14.1 million, EUR 12.7 million) in 2018.

Photo courtesy of AKVA

Contributing Editor reporting from London, UK

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