Q4 2025 Akva Group ASA Earnings Call Transcript
Key Points
- AKVA Group ASA (FRA:3QI) reported a record high quarterly revenue of NOK1.1 billion, driven by strong performance in both Land Based and Sea Based segments.
- The company achieved a significant year-over-year revenue growth of 25%, reaching NOK4.4 billion in 2025.
- Land Based segment delivered a record high quarterly revenue of NOK422 million, marking a 90% increase year-on-year.
- The company secured a strong order intake of NOK1.250 billion in Q4, with a robust order backlog of NOK2.5 billion.
- AKVA Group ASA (FRA:3QI) demonstrated solid cash flow generation in Q4, supported by a NOK153 million net working capital release.
- Profitability in Q4 was somewhat soft due to the product mix in Sea Based and project mix in Land Based segments.
- The EBITDA margin for Sea Based was impacted by a lower share of revenue from deep farming products compared to previous quarters.
- The company faces competition in the deep farming segment, with competitors stepping up their efforts.
- The Land Based segment's growth may not continue at the same pace in 2026, with expectations of maintaining similar levels as 2025.
- There are challenges in the RAS supply sector, with some competition struggling financially, impacting the market dynamics.
Ladies and gentlemen, good morning, and very much welcome to the Q4 presentation of AKVA Group. I will do the introduction and the highlights. Then Ronny Meinkoehn, the CFO, will do financial performance and followed by a Q&A session. So please post any questions during the call, and our moderator will read the question during the Q&A session. .
I'd like to go straight to the highlights of the fourth quarter. We had a high quarterly revenue of NOK1.1 billion with a corresponding EBIT of NOK44 million. Land Based delivered a record high quarterly revenue of NOK422 million. Sea Based secured a strong order intake of NOK952 million, contributing to total order intake of NOK1.250 billion a RAS contract at the value of approximately NOK220 million was awarded from Tytlandsvik Aqua at the start of Q4. Order backlog totaled around NOK2.5 billion at the end of Q4 2025. We also had a very solid or robust cash flow generation in Q4, supported by NOK153 million in net working capital release. And our dividend of NOK1 will be paid later during
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