Q1 2026 Akva Group ASA Earnings Call Transcript
Key Points
- AKVA Group ASA (FRA:3QI) reported a record high quarterly EBITA of NOK91 million, showcasing strong financial performance.
- The company achieved a strong order intake of around NOK1.5 billion, with an order backlog of NOK2.8 billion at the end of Q1 2026.
- AKVA Group ASA completed the acquisition of the remaining shares of Submerge, becoming the 100% owner of its smart camera solution.
- The company has strategically expanded into the defense industry, securing a long-term framework agreement for the delivery of polar circuit boats.
- The digital segment maintained a strong EBITDA margin of 32%, indicating robust performance in this area.
- Net financial costs were negatively impacted by NOK8 million due to reduced market value on the investment in Nordic Aqua Partners.
- The sea-based technology segment experienced a 6% decrease in revenue compared to Q1 last year.
- Available cash, including unused credit facilities, decreased by NOK105 million compared to year-end.
- The order backlog for the land-based segment was NOK270 million lower than one year ago.
- Net interest-bearing debts increased by NOK68 million during the quarter, partly due to increased net working capital and M&A activities.
Ladies and gentlemen, good morning and very much welcome to the Q&N presentation of Akva Group.
I will do the introduction highlights. Ronnie Meinken, our CFO, will do the financial performance and then we will do a Q&A session. So please post any questions during presentation and our moderator will read the questions.
Kicking off with the highlights for the first quarter, we had a quarterly revenue of NOK1,140 million. And record high quarterly EBITA of NOK91 million.
Strong order intake of around NOK1.5 billion and order backlog of NOK2.8 billion at the end of Q1 2026. A RAS contract with value of approx. NOK200 million was awarded from Ordel Aqua in February and earlier announced. And a small contract of EUR28 million was awarded from Laxay in April and will then be part of the order backlog for Q2.
Four new barges for the international market were awarded in Q1 with a total contract value estimated of EUR6 million.
Acquisition of remaining shares of Submerge was completed during Q1. That's our
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