AKVA sees big increase in profits and order book for Q4

But the EBITDA (earnings before interest, taxation, depreciation and amortisation) increased sharply – up from NOK 41m (almost £3m) 12 months ago to NOK 76m (£5.4m) this time.

AKVA said the total order intake was also well up from NOK 718m (£51m) last year to NOK 1.1 billion (£78.6m).

The order book has just been boosted by a NOK 30m RAS (recirculating aquaculture system) contract for a new smolt facility for Cermaq Chile. Added to this is a NOK 20m contract last month with Laxey, Iceland, subject to financing.

AKVA said it is aiming for revenue of NOK four billion (£286m) and an EBIT of 6% this year.

It added: “The awarded contracts from Cermaq Chile and Laxey (subject to financing) will have positive impact on the revenue level in 2025.

“The outlook for the post-smolt market in Norway is still soft but is expected to improve gradually in 2025.

“Profitability improved in the fourth quarter compared to last year, and the increased profitability is primarily related to the improved performance in the Land Based business. The profitability in Sea Based was acceptable based on a a soft revenue level.”

The company also said: “The financial performance in the Digital business is improving but the current cost base is still high compared to the current activity level resulting in soft profit margins.”

Sea Based Technology revenues for Q4 2024 ended at NOK 542m (£39m) . Land Based Technology revenues for the fourth quarter was NOK 217m (£15.5m) up from NOK 142m (£10m) last year.

AKVA is paying a dividend of NOK 1 per share.