Cage-based technology and feed barges driving sales. Company ending the quarter with an order backlog of EUR 162 million.
AKVA group – a technology and service partner to the aquaculture industry – has completed the first quarter with growth in revenue and order intake.
Most of the revenue still comes from cage-based technology (CBT) and total CBT revenue for Q1 2019 ended at EUR 70 million. The revenue in the first quarter of 2019 ended with 86.6 million with an EBITDA of 9.8. EBITDA margin was 11.4 per cent.
Among the company’s good customers is the newcomer Grieg NL in Eastern Canada, which “secured a good platform for further development in the area,” the company wrote in a stock exchange announcement on Friday morning.
“The margins in the Norwegian barge business are significantly better than last half of 2018 but there is still untapped potential in improved project execution. In Mo i Rana (Norway) the pipe factory experienced a strong quarter with high production and limited downtime. The activity in the marine services is increasing and we are seeing increased revenue and EBITDA compared to last year,” it added.
Within land-based facilities, there are fewer jobs for AKVA group, which generated sales of EUR 12.1 million in this segment. During the quarter, the company has signed an agreement of approximately EUR 30.5 million with Svaberget Smolt.
Furthermore, the company emphasised that the integration from the acquisition of Egersund Net is developing well, and that “total solutions”, with nets, cages and moorings, are already sold in the market.