Q1 2025 Akva Group ASA Earnings Call Transcript
Key Points
- AKVA Group ASA (OSL:AKVA) reported a record high first quarter revenue of slightly more than NOK1,013 million.
- The company achieved a strong order intake of NOK1.2 billion, supported by a NOK30 million contract with Sermac Chile.
- The sale of shares in Abu Group to AIs infrastructure partners resulted in net proceeds of NOK144 million and a net gain of NOK12 million.
- EBITDA increased significantly to NOK113 million, driven by increased revenue and economies of scale.
- The company has a strong order backlog of NOK2.8 billion, providing a solid foundation for future activity levels.
- Order intake for the sea-based segment was slightly down from NOK800 million last year to NOK784 million this year.
- The digital segment experienced a 12% decline in revenue compared to last year, attributed to fewer upgrading projects.
- The financial position was strengthened primarily due to the sale of shares, indicating reliance on asset sales for cash flow.
- The digital segment's profit is considered on the soft side due to a high cost base relative to current revenue levels.
- The company experienced a decline in order intake in the Americas, primarily related to operations in Chile.
Ladies and gentlemen, good morning and very much welcome to the ACA Group, the first quarter of financial presentation.
The agenda for this morning is that I will do the introduction and the highlights. Ronnie Meen, our CFO, will do the financial performance, and we will also do a run a Q&A session. And please post any questions during the presentation and our moderator will read your question.
Highlights for the first quarter of '25. First of all, a record high first quarter revenue of slightly more than NOK1,013 million, an acceptable EBIT of NOK57 million.
Strong order intake of NOK1.2 billion supported by the NOK30 million small contract with Sermac Chile. And also the sale of shares in Abu Group to AIs infrastructure partners with the net proceeds of NOK144 million and a net gain of NOK12 million, which is booked in the first quarter.
Also, we continue the sharp focus on further development and improved implementation of the no solution.
Straight to the numbers, key figures for Q1 revenue as
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