Q4 2024 Akva Group ASA Earnings Call Transcript
Key Points
- AKVA Group ASA (FRA:3QI) reported an all-time high quarterly order intake of NOK946 million, driven by the deep farming solution.
- The company was awarded two new land-based contracts at the start of the year, with significant contract values of EUR20 million and EUR30 million.
- AKVA Group ASA (FRA:3QI) announced a dividend payment for the first time in three years, reflecting positive expectations for the first half of 2025.
- The company achieved a full-year EBIT of NOK184 million, representing the highest EBIT in its history.
- Strong momentum in the Nordic market with a 7% revenue increase in Q4 compared to Q4 2023, and a significant increase in land-based revenue by 53%.
- Q4 activity level was lower than expected, with revenue of NOK792 million, attributed to late order intake in December.
- High financial costs in the quarter, including ordinary interests of EUR24 million and currency losses.
- Digital segment experienced a disappointing top line in Q4, with an 18% reduction in revenue compared to the previous year.
- Net interest-bearing debt increased by NOK93 million in the quarter, driven by increased networking capital.
- Challenges in the US market for land-based salmon production due to complicated permit processes.
Ladies and gentlemen, good morning and very much welcome to the 2024 full year presentation of the Akva Group. The agenda of this morning is that I will do the introduction and the highlights. Ronny Meinkohn, the CFO, will do the financial performance, and then we will end with a Q&A session. So for those who are in the call, please post any questions during the presentation.
Let's go straight to the highlights for Q4, a revenue of NOK792 million and EBIT of NOK23 million. It was all-time high quarterly order intake of sea-based. We are very pleased with that of NOK946 million, and that is very much driven by the deep farming solution. Talking the farming solution, we still have a very sharp focus on further development and improved implementation of the NA solution, even though it is a commercialized solution. We still think there is room for development and innovation here.
Not exactly in the quarter, but at the start of the year we got awarded two new land-based contracts or contracts, one for the activity of Luxa, which is a
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