AKVA Group eyes Canada-Iceland growth after solid Q4

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Equipment maker AKVA Group has posted EUR 6.2 million in EBITDA on turnover of EUR 57.7 million for the final quarter of 2017.

The company finished up the quarter with an order book worth EUR 143 million, an increase of 38 percent compared with the same period last year. The company is splurging for shareholders, too, and will offer a dividend per share of EUR 0.08.

Its earnings and order flow in the important Norwegian market has in-part been driven by the acquisition of AD Offshore and Sperre.

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“After a significant increase in the flow of orders in 2017, an evaluation of the outlook for AKVA Group in 2018 is positive. Activity in the Scandinavian net-based segment, and within services continues to be good. Services and aftersales have high priority in our strategy,” company leadership said in a statement.

Meanwhile, the company sees growth in Eastern Canada and Iceland, and AKVA group says it believes it’s well-positioned to take part in the growth of those markets.

“The strategy of focusing on other farmed species around the Mediterranean has yielded good results in 2017. We will continue to develop and invest in these markets into the future. The land-based organization was reorganised in 2017 and in the beginning of 2018 is in better shape to compete in the segment, where we see increased demand and investments from our customers.”