Akva reports "rather slow" 3Q
Akva group's 3Q report shows a massive increase in order inflow compared to 2012, but revenues have been "rather slow" compared to last year due to it being a traditionally slow period and a lagging Chilean market.
Order inflows for 3Q 2013 totaled NOK 271 million (USD 46.1 million, EUR 33.5 million), which is up 82 percent compared to 2012. The company reports the order flow is continuing into 4Q already.
But revenues are still down, totaling NOK 180 million (USD 30.7 million, EUR 22.3 million), down from the NOK 202 million (USD 34.4 million, EUR 25 million) reported in 3Q last year. Earnings before interest, taxes, dividends and acquisitions were also down from NOK 13 million (USD 2.2 million, EUR 1.6 million) last year to NOK 8 million (USD 1.4 million, EUR 989,995) reported in 3Q 2013.
"We have had a rather slow financial quarter due to a normal in-between seasons effect in the Nordic market, at the same time as Chile has slowed down," CEO Trond Williksen said in the report. "Outlooks are however positive, with strong order inflow in all our product segments and markets except Chile."
In Chile, the report said "financial, operational and biological uncertainty" is holding back growth, but higher salmon prices are giving the company hope that the Nordic sector figures will soon improve.