AKVA Group (AKVA) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue reached NOK 1.14 billion, up 13% year-over-year, with record EBIT of NOK 91 million and EBITDA of NOK 153 million.

• Order intake was NOK 1.493 billion, driving backlog to NOK 2.83 billion by quarter-end.

• Strategic review initiated in April 2026 to maximize shareholder value, including a potential sale, expected to conclude by fall 2026.

• Dividend of NOK 1 per share paid in April 2026.

• Acquisition of remaining shares in Submerged AS completed, with expansion into the defense industry and major contracts in RAS and smolt technology.

Financial highlights

• EBITDA reached NOK 153 million, up NOK 40 million year-over-year, with margin rising to 13.4%; EBIT at NOK 91 million, up NOK 34 million.

• Net profit for Q1 2026 was NOK 56 million, with EPS of NOK 1.53.

• Book-to-bill ratio over 130% in Q1 2026.

• Available cash including credit facilities at NOK 442 million; net interest-bearing debt increased to NOK 1,272 million.

• ROCE/ROACE improved to 12.8% from 9.3% year-over-year.

Outlook and guidance

• Guidance reiterated for at least 20% EBIT growth in 2026 vs. 2025.

• Revenue expected to exceed NOK 5 billion in 2027, with minimum EBIT margin of 9%.

• Strategic review to conclude by fall 2026; continued investment in all business segments.

• Strong commercial momentum and potential to exceed 2030 guidance of NOK 7 billion revenue and 10% EBIT margin.