AKVA group doubles operating profit this Q2

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Cage-based and land-based technology fills the order book for aquaculture equipment supplier.

AKVA group’s EBITDA of EUR 10.1 million – effectively doubled last year whuch was EUR 5.2 million.

Revenue for the quarter was EUR 80 million. The company ended the quarter with an order book of EUR 160.6 million.

Segments
“We have experienced continued good activity across all regions and segments in the second quarter of 2019. The order intake in Q2 2019 was NOK 760 million (EUR 76.3 million)” AKVA group wrote in a stock exchange announcement Wednesday morning.

The equipment supplier also announced a decision on a half-yearly dividend of one krone per share. The dividend will be paid out in September.

83 per cent of sales in the quarter came from cage-based technology, and the majority of this came from the Nordic countries. The company reports improved margins in the Norwegian barge business but at the same time fierce competition. The ROV companies Sperre and AKVA Marine Services both posted a quarter of “strong improvements”.

Waiting for more
Land-based technology is in the offing. The company announced a significant contract with the Russian company Russian Sea, totalling 11.9 million euros. The contract is expected in the third or fourth quarter but is not yet included in the order book.