Higher sales and lower costs gave a solid boost to Aqualine.
In 2017, Aqualine increased its revenue by almost 50 per cent without making any more money. In 2018, they have increased their turnover even more, while at the same time cutting costs, almost doubling its operating result year by year.
“The company’s business follows the Group’s long-term plans,” the board wrote on its annual report.
“The company is influenced by the international market conditions in the aquaculture industry, as well as the general political and economic developments both in Norway and in international markets, both with regard to our subcontractors and our market for production equipment for the aquaculture industry”, the board’s report states.
Aqualine’s business takes place in three municipalities in Norway, Frøya, Bjugn and Trondheim respectively. The company has also initiated an international venture with two subsidiaries in Chile and Australasia, respectively.
No cash has been set aside for dividends after last year. Profit for the year goes to group contributions and equity. At year-end, the company had working capital of EUR 43.6 million of which EUR 10.6 million is equity.
Salmonbusiness has not yet succeeded in getting a comment from Aqualine.