Klepp, Norway-based aquaculture technology firm AKVA group has posted its best-ever Q3 results, achieving 19 percent higher revenues in the third quarter of this year compared to the same period last year.
According to the firm’s latest financial report, AKVA’s revenues exceeded NOK 1.1 billion (USD 107.8 million, EUR 93.3 million) in Q3, compared to NOK 936 million (USD 91.7 million, EUR 79.4 million) in the same period a year prior.
Its EBIT totaled NOK 89 million (USD 8.7 million, EUR 7.6 million), compared to NOK 78 million (USD 7.6 million, EUR 6.6 million) in Q3 2024, and its EBITDA amounted to NOK 148 million (USD 14.5 million, EUR 12.6 million), compared to NOK 128 million (USD 12.5 million, EUR 10.9 million).
By segment, revenues earned by AKVA’s Sea Based (SB) business totaled NOK 770 million (USD 75.5 million, EUR 65.3 million) in Q3 2025, which was up NOK 30 million (USD 2.9 million, EUR 2.5 million) year over year. The division’s EBITDA and EBIT ended the quarter at NOK 113 million (USD 11.1 million, EUR 9.6 million) and NOK 70 million (USD 6.9 million, EUR 5.9 million), respectively. In the corresponding period of last year, these totals were NOK 112 million (USD 11 million, EUR 9.5 million) and NOK 75 million (USD 7.4 million, EUR 6.4 million).
SB’s Q3 2025 order intake of NOK 620 million (USD 60.8 million, EUR 52.6 million) represented a NOK 15 million (USD 1.5 million, EUR 1.3 million) year-over-year decrease, but its order backlog at the end of the period was NOK 745 million (USD 73 million, EUR 63.2 million), which was up NOK 34 million (USD 3.3 million, EUR 2.9 million) year over year.
The firm’s Land Based (LB) revenues for the quarter totaled NOK 308 million (USD 30.2 million, EUR 26.1 million), which was up NOK 146 million (USD 14.3 million, EUR 12.4 million) year over year. Its EBITDA and EBIT ended the period at NOK 22 million (USD 2.2 million, EUR 1.9 million) and NOK 19 million (USD 1.9 million, EUR 1.6 million), which were up from NOK 5 million (USD 490,000, EUR 424,277) and NOK 3 million (USD 294,125, EUR 254,605) previously.
The segment’s order intake remained the same as Q3 2024 at NOK 138 million (USD 13.5 million, EUR 11.7 million), while its order backlog ended at over NOK 1.4 billion (USD 137.2 million, EUR 118.8 million), compared to NOK 1.5 billion (USD 147 million, EUR 127.3 million) last year.
Revenues for AKVA’s Digital (DI) segment amounted to NOK 34 million (USD 3.3 million, EUR 2.9 million) – the same as in Q3 2024. Its EBITDA and EBIT were NOK 12 million (USD 1.2 million, EUR 1 million) and zero, respectively, while its order intake slipped NOK 2 million (USD 196,000, EUR 170,000) to NOK 30 million (USD 2.9 million, EUR 2.5 million) and its order backlog increased NOK 36 million (USD 3.5 million, EUR 3.1 million) to NOK 183 million (USD 17.9 million, EUR 15.5 million).
Delivering the company’s results for the latest reporting period, CEO Knut Nesse said the group was pleased with both the activity level and the financial performance.
While the quarter’s order intake – valued at NOK 786 million (USD 77 million, EUR 66.7 million) overall – was “a bit on the soft side” compared to Q3 2024, Nesse said the expectation is that Q4 will be very strong and “significantly stronger” than a year ago, with a good number of sales over the line in October and a lot of tenders issued.
“That will secure a good momentum for continuous growth into 2026 versus ’25,” he said, particularly highlighting a NOK 220 million (USD 21.6 million, EUR 18.7 million) RAS contract that it won from Tytlandsvik Aqua at the start of Q4.
Nesse said that AKVA is aiming for minimum revenues of NOK 4 billion (USD 392 million, EUR 339.3 million) for the full year of 2025 which, if achieved, would be up from NOK 3.6 billion (USD 352.8 million, EUR 305.4 million) last year.
