Lower order intake for AKVA Group

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EBITDA margin was 11% in third quarter.

The aquaculture tech company posted a turnover of EUR 66.9 million in the last quarter, with an EBITDA of EUR 7.4 million. Net profit was EUR 2.9 million , compared to EUR 2.7 million in the same quarter last year.

AKVA group rounded the quarter with an order book of EUR 115.5 million, which is quite unchanged from the end of the second quarter. Despite lower margins, the Nordic region, largely in Norway, continued to contribute most of the activity, with an order intake of EUR 26.5 million.

“The start of the fourth quarter has been strong in the Nordic region and we are gaining significant momentum within the cage-based segment in the growing regions of Canada and Iceland. The land-based segment has gradually got a foothold in the Scottish and Chilean market in addition to the well referenced position in Norway. Although order intake in the Land Based segment is down YoY, the potential for additional larger recirculating aquaculture system (RAS) orders is still very strong,” the company wrote in a stock exchange announcement.

“The Chilean market continue to be strong and internal improvement processes as well as work to broaden our offering are gradually taking effect. We have established a sound set up in the Mediterranean area and are in a good position to grow as we see pent up demand for new equipment among the larger farmers, ” the company added.