Norwegian aquaculture services and equipment provider AKVA Group ASA achieved fourth-quarter 2021 revenues of NOK 831 million (USD 93.9 million, EUR 82.4 million), an increase of 10 percent year-on-year, and earnings before interest, tax, depreciation and amortization (EBITDA) of NOK 61 million (USD 6.9 million, EUR 6.1 million), an increase of NOK 7 million (USD 790,643, EUR 694,719 million) compared with Q4 2020.
However, Akva’s net profit decreased from NOK 7 million to NOK 6 million (USD 677,500, EUR 594,906), with Akva explaining that its profitability was negatively impacted by supply chain restrictions and cost inflations in the quarter.
AKVA’s order intake in the quarter fell from NOK 1 billion (USD 112.9 million, EUR 99.1 million) in Q4 2020 to NOK 741 million (USD 83.6 million, EUR 73.5 million), with a backlog of NOK 3 billion (USD 338.7 million, EUR 297.5 million) at the end of December 2021.
Its Sea-Based Technology (SBT) segment’s revenues for the fourth-quarter were NOK 649 million (USD 73.3 million, EUR 64.3 million), up from NOK 580 million (USD 65.5 million, EUR 57.5 million) a year previously, while its EBITDA and earnings before interest and taxes (EBIT) increased to NOK 49 million (USD 5.5 million, EUR 4.9 million) and NOK 14 million (USD 1.6 million, EUR 1.4 million), respectively.
SBT’s order intake was NOK 693 million (USD 78.3 million, EUR 68.7 million), an improvement of NOK 91 million (USD 10.3 million, EUR 9 million), while the order backlog increased NOK 2 million (USD 215,814, EUR 198,301) to NOK 852 million (USD 96.2 million, EUR 84.5 million).
Its revenue from the Nordic region slipped to NOK 368 million (USD 41.6 million, EUR 36.5 million), while those for the Americas region and Europe and Middle East (EME) climbed to NOK 157 million (USD 17.7 million, EUR 15.6 million) and NOK 124 million (USD 14 million, EUR 12.3 million), respectively.
Revenues earned by AKVA’s Land-Based Technology (LBT) segment in the fourth quarter totaled NOK 161 million (USD 18.2 million, EUR 16 million), up from NOK 157 million in Q4 2020, with its EBITDA and EBIT amounting to NOK 9 million (USD 1 million, EUR 892,267) and NOK 5 million (USD 564,812, EUR 495,745), respectively.
Its order intake was NOK 21 million (USD 2.4 million, EUR 2.1 million) compared with NOK 385 million (USD 43.5 million, EUR 38.2 million) in Q4 2020, while the quarter’s order backlog was NOK 2 billion (USD 226 million, EUR 198.3 million), compared with NOK 975 million (USD 110.2 million, EUR 96.7 million) previously.
Revenues generated by AKVA’s Digital (DI) segment ended the fourth quarter at NOK 21 million (USD 2.4 million, EUR 2.1 million), down NOK 1 million (USD 112,978, EUR 99,146) from Q4 2020. DI’s EBITDA and EBIT fell to NOK 3 million (USD 338,929, EUR 297,439) and zero, respectively.
Photo courtesy of AKVA Group
