AKVA Group (AKVA) Q3 2026 earnings summary

Executive summary

• Q3 revenue was NOK 959m, down NOK 153m YoY, while EBIT rose to NOK 99m from NOK 89m; YTD EBIT increased to NOK 301m from NOK 236m.

• Q3 order intake was NOK 714m and period-end backlog was NOK 2,718m; management expects robust Q4 order intake and sees backlog supporting organic growth in 2027.

Financial highlights

• Q3 EBITDA was NOK 170m vs NOK 148m; net profit was NOK 59m vs NOK 63m. YTD EBITDA was NOK 502m vs NOK 406m, and net profit was NOK 182m vs NOK 152m.

• YTD revenue was NOK 3,288m vs NOK 3,292m; YTD order intake rose 17% to NOK 3,552m.

• Q3 EPS was NOK 1.62 vs NOK 1.74; YTD EPS was NOK 5.00 vs NOK 4.22.

Outlook and guidance

• Order intake is expected to be robust in Q4 2026; NOK 2,718m backlog provides a foundation for continued organic growth in 2027.

• 2027 target: minimum revenue of NOK 5bn and EBIT margin of 9%; continued strong momentum is anticipated for deep farming concepts.

• Strategic priorities remain unchanged pending completion of the Yanmar transaction; operations continue as usual.