AKVA Group (AKVA) Q2 2025 earnings summary

Executive summary

• Achieved record-high quarterly revenue of NOK 1,167 million and EBIT of NOK 89 million in Q2 2025, reflecting a 15% year-over-year revenue increase and strong operational performance.

• Order intake for Q2 2025 reached NOK 1,052 million, supported by major land-based contracts, including a EUR 20 million deal from Laxey.

• Order backlog at quarter-end was NOK 2,712 million, providing a solid foundation for future activity.

• Focused on innovation and long-term growth in deep farming, post-smolt, and digital platforms, with significant investments in R&D and technology.

• Profitability improved significantly, primarily due to higher revenue levels and a strong product mix.

Financial highlights

• Q2 2025 revenue rose 15% year-over-year to NOK 1,167 million, mainly driven by land-based business.

• EBITDA for Q2 2025 was NOK 145 million (12.4% margin), up from NOK 110 million (10.8%) in Q2 2024.

• EBIT for Q2 2025 was NOK 89 million (7.7% margin), up from NOK 63 million (6.2%) in Q2 2024.

• First half 2025 revenue was NOK 2,180 million, a 21% increase from NOK 1,799 million in H1 2024.

• Net profit in Q2 2025 was NOK 47 million, with earnings per share of NOK 1.32.

Outlook and guidance

• Revenue for 2025 is guided at a minimum of NOK 4 billion, with an EBIT margin target of 6%.

• Q3 revenue and financial performance expected to match strong Q2 results.

• Targeting NOK 5 billion turnover by 2027, with higher EBIT expected due to scalability.

• Continued strong momentum expected for deep farming concepts and ongoing investments across all business segments.

• Normalization of the post-smolt market in Norway anticipated in 2025.