Klepp, Norway-based aquaculture services and equipment provider AKVA Group delivered second-quarter 2021 revenues of NOK 832 million (USD 94 million, EUR 80.1 million), a decrease of NOK 30 million (USD 3.4 million, EUR 2,9 million) – or 3 percent – compared with the corresponding period of last year.
The company's Q2 2021 earnings before interest, taxes, depreciation, and amortization (EBITDA) slipped NOK 14 million (USD 1.6 million, EUR 1.4 million) to NOK 79 million (USD 8.9 million, EUR 7.6 million), while net profit decreased NOK 10 million (USD 1.1 million, EUR 962,000) to NOK 16 million (USD 1.8 million, EUR 1.5 million).
AKVA’s order intake in Q2 amounted to NOK 900 million (USD 101.7 million, EUR 86.6 million), with a backlog of NOK 1.9 billion (USD 214.7 million, EUR 182.8 million) at the end of June.
Confirming its Q2 results, the company stated that a negative impact on profitability of approximately NOK 25 million (USD 2.8 million, EUR 2.4 million) was due a final commercial clean-up and provisions for old land-based projects, while COVID-19 restrictions had a negative impact of around NOK 5 million (USD 564,870, EUR 481,210) in the period.
“In the first half of 2020, the pandemic impacted our Land-Based segment the most, with cancellation and postponement of contracts. In 2021, the pandemic hit the Cage-Based segment, with restrictions on import of foreign labor to Norway,” it said.
AKVA’s Cage-Based Technology (CBT) segment’s Q2 2021 orders fell NOK 3 million (USD 338,958, EUR 288,726) to NOK 735 million (USD 83 million, EUR 70.7 million), while its Land-Based Technology (LBT) business segment’s orders halved to NOK 116 million (USD 13.1 million, EUR 11.2 million).
CBT’s revenues for the quarter totaled NOK 716 million (USD 80.9 million, EUR 68.9 million), down from NOK 775 million (USD 87.6 million, EUR 74.6 million) in Q2 2020, with NOK 490 million (USD 55.4 million, EUR 47.2 million) coming from the Nordic region, NOK 123 million (USD 13.9 million, EUR 11.8 million) from the Americas, and NOK 104 million (USD 11.8 million, EUR 10 million) from Europe and the Middle East.
LBT’s revenues amounted to NOK 97 million (USD 11 million, EUR 9.3 million), up from NOK 74 million (USD 8.4 million, EUR 7.1 million) in Q2 2020, while AKVA's Digital Solutions (DS) segment’s earnings for the period climbed NOK 2 million (USD 225,996, EUR 192,522) to NOK 18 million (USD 24.8 million, EUR 21.2 million).
Most of AKVA’s revenues are generated from sales to the salmon sector. Revenues from other species relate mainly to the Mediterranean area.
Photo courtesy of AKVA Group
