AKVA Group ASA: Q4 2024 Financial Reporting - A Deep Dive into the Aquaculture Giant's Performance

AKVA Group ASA, a leading technology and service partner to the aquaculture industry worldwide, recently released its Q4 2024 financial results. The company delivered a strong performance, with record high Sea Based order intake and improved profitability in the Land Based business segment. This article will delve into the key aspects of AKVA Group's Q4 2024 financial reporting, highlighting the company's achievements and prospects for the future.



Record High Sea Based Order Intake

AKVA Group ASA achieved an all-time high quarterly order intake for its Sea Based business segment in Q4 2024, with a total of MNOK 946. This impressive figure was driven by deep farming solutions and continued positive momentum in the Nordic market, as well as the sale of solutions for deep farming. The total order intake for the quarter was BNOK 1,1, up from MNOK 718 in Q4 2023. The order backlog at the end of December 2024 stood at BNOK 2,7, reflecting the strong demand for AKVA Group's products and services.

Awarded Contracts and Revenue Impact

The company secured two significant contracts in Q4 2024, which are expected to have a positive impact on its revenue level in 2025. The first contract, a Recirculating Aquaculture System (RAS) smolt facility, was signed with Cermaq Chile in February 2025, with a contract value of approximately MEUR 30. The second contract, regarding re-use technology for a grow-out facility, was awarded to Laxey in January 2025, with an estimated contract value of MEUR 20, subject to financing. These contracts align with AKVA Group's strategic objectives and demonstrate the company's ability to secure large-scale projects in the aquaculture industry.

Improved Performance in Land Based Business

The Land Based Technology (LBT) segment of AKVA Group ASA showed significant improvement in Q4 2024. Revenue for the fourth quarter was MNOK 217, compared to MNOK 142 in Q4 2023, indicating a 52.1% increase. The EBITDA margin improved from -10.9% in Q4 2023 to 6.5% in Q4 2024, while the EBIT margin improved from -12.6% to 5.5% over the same period. The order intake for LBT in Q4 2024 was MNOK 114, compared to MNOK 0 in Q4 2023, indicating a significant increase in demand. The order backlog ended at MNOK 1,408, compared to MNOK 1,454 last year, showing a healthy pipeline of future business.



Outlook and Strategic Objectives

AKVA Group ASA aims to achieve a minimum revenue of BNOK 4,0 and an EBIT of 6% in 2025. The company will continue to invest and improve solutions in both sea-based and land-based technologies, as well as in its digital offerings. AKVA Group will also conduct a Capital Markets Day on June 12, 2025, to engage with investors and discuss its strategic objectives and future prospects.



In conclusion, AKVA Group ASA's Q4 2024 financial reporting demonstrates the company's strong performance and growth potential in the aquaculture industry. With record high Sea Based order intake, awarded contracts, and improved profitability in the Land Based business, AKVA Group is well-positioned to achieve its strategic objectives and deliver value to shareholders in the coming years.