Results jump for AKVA group

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Sales gains helped drive up earnings in the third quarter.

AKVA group recorded an operating profit (EBITDA) of €11 million in the third quarter of the year. This is an increase of €4 million compared to the same quarter last year. The operating margin was 14.9 per cent.

The result includes a net gain of €2 million from the sale of IT company Wise lausnir in Iceland.

The aquaculture supplier rounded off the quarter with an order book of €150 million.

Order intake for the quarter was €70 million, mainly from the Nordic countries and Americas.

Sales in the quarter €75 million, of which €65 million came from cage-based technology, primarily aimed at the Nordic market.

“The margins in our Norwegian barge operations were significantly better than in the third quarter of last year, but there is still untapped potential for improvements in project execution,” the company writes in a stock exchange statement.

The equipment supplier paid a half-yearly dividend of NOK 1 per share in September.