Norwegian aquaculture technology firm AKVA group reported record EBITDA and strong order intake in the second quarter of 2026, with demand for its aquaculture technology solutions remaining robust across both its Sea-Based and Land-Based farming businesses.
The firm generated revenue of NOK 1.19 billion (USD 125.6 million, EUR 108.6 million) in Q2 2026, up 2 percent on the NOK 1.16 billion (USD 122.4 million, EUR 105.9) posted in the same period last year. Its EBITDA climbed 23 percent to a record NOK 179 million (USD 18.9 million, EUR 16.3 million), compared to NOK 145 million (USD 15.3 million, EUR 13.2 million) in Q2 2025.
This came as the period’s order intake was particularly strong, reaching NOK 1.35 billion (USD 142.9 million, EUR 123.2 million), while the company’s order backlog stood at almost NOK 3 billion (USD 316.6 million, EUR 273.8 million) at the end of June, increasing from NOK 2.7 billion (USD 285 million, EUR 246.4 million) a year earlier.
Delivering the group’s Q2 results on 14 August, AKVA CEO Knut Nesse said his firm was “pleased with the performance across all business segments,” noting that the high activity level was bolstered by a EUR 28 million (USD 32.4 million) smolt contract awarded by Icelandic land-based salmon firm Laxey in April, as well as strong momentum in its sea-based business that saw orders for three new barges for Nordic and international markets.
Sea-based's revenues slipped 5 percent year over year to NOK 822 million (USD 86.8 million, EUR 75.1 million), but its EBITDA rose 15 percent to NOK 143 million (USD 15.1 million, EUR 13.1 million), lifting the segment's EBITDA margin from 14.3 percent to 17.4 percent. The company attributed the improvement to economies of scale, a favorable product mix, and strong project execution.
Sea-based’s order intake increased substantially to NOK 913 million (USD 96.4 million, EUR 83.3 million), compared to NOK 655 million (USD 69.1 million, EUR 59.8 million) in Q2 2025, while its backlog lifted to over NOK 1.4 billion (USD 147.8 million, EUR 127.8 million).
That order intake was partly fueled by a high order intake of boats for the defense industry, Nesse explained.
“In the second quarter, we secured an order intake of NOK 230 million [USD 24.3 million, EUR 21 million] for the boat segments. That’s a very solid number, which will absolutely propel the activity, probably threefold, into next year and significantly improve profitability.
Land-based, meanwhile, delivered strong top-line growth, with revenue increasing 23 percent to NOK 326 million (USD 34.4 million, EUR 29.7 million). Its EBITDA rose 62 percent to NOK 21 million (USD 2.2 million, EUR 1.9 million), while its order intake reached NOK 397 million (USD 41.9 million, EUR 36.2 million). The segment accounted for NOK 1.36 billion (USD 143.5 million, EUR 124.1 million), or 46 percent, of AKVA's total order backlog at the end of the quarter.
AKVA’s Digital segment also posted improved profitability, with EBITDA increasing to NOK 15 million (USD 1.6 million, EUR 1.4 million) from NOK 8 million (USD 844,370, EUR 730,060). However, its order intake fell to NOK 35 million (USD 3.7 million, EUR 3.2 million) from NOK 81 million (USD 8.5 million, EUR 7.4 million).
Nesse said the company’s strong Q2 performance provides “a strong foundation for continued organic growth in 2026 and into 2027,” and to that end, he confirmed the company will continue investing across its Sea Based, Land Based, and Digital businesses and is targeting minimum revenue of NOK 5 billion (USD 527.7 million, EUR 456.3 million) and an EBIT margin of 9 percent in 2027.
Meanwhile, the firm has progressed on its strategic review, which was announced in April and floated a potential sale of the company, according to Nesse.
“The update for now is that the strategic review is in a ‘progressed phase,’ still with an expected conclusion during the fall in line with previous communication,” Nesse said. “No final decision has been taken at this stage, and AKVA will of course provide an update to the market when the conclusion is reached.”
Additionally, AKVA announced a NOK 1.00 (USD 0.11, EUR 0.09) per-share dividend for the second half of 2026, following an equivalent payment made in the first half of the year.
