Welcome   Sponsored By
Subscribe | Register | Advertise | Newsletter | About us | Contact us
   


AKVA group registered a significant increase in cage based segment orders in the last three months of 2018.

AKVA obtained lower profits in Q4 2018, despite strong increase in orders

Click on the flag for more information about Norway NORWAY
Saturday, February 16, 2019, 00:50 (GMT + 9)

The AKVA group closed the fourth quarter of 2018 with a growth of 32 percent in revenues and 79 percent in orders, but with lower profits than in the same period of 2017.

Record high order intake – 1 billion NOK

Revenue in the fourth quarter of 2018 reached NOK 726 million (USD 83.9 million), compared to NOK 550 million OK (USD 63.6 million) in the same period of 2017.

EBITDA of 57 MNOK in the quarter, including 25 MNOK from Egersund Net

EBITDA was NOK 57 million (USD 6.6 million), compared to NOK 60 million (USD 6.9 million) in the fourth quarter of last year.

The group's net profit decreased from NOK 27 million (USD 3.1 million) to NOK 19 million (USD 2.2 million) in the fourth quarter of 2018.

Revenue up 30% - driven by acquisition of Egersund Net

Egersund Net contributed NOK 152 million revenue and EBITDA of NOK 25 million in the quarter. Compared to 2017, ASA Nordic margins were lower, due to some problems with suppliers, which caused an increase in barge costs, since the implementation of new manufacturing lines in Helgeland Plast led to lower efficiency .

The American market continued to have a high activity, with orders for NOK 171 million in the quarter, compared to NOK 138 million in the fourth quarter of 2017.

Click on the image to enlarge

Revenues for the fourth quarter of 2018 in America reached NOK 177 million, compared to NOK 127 million in the fourth quarter of the previous year.

The Europe and the Middle East (EME) region continued with high activity, although its revenues decreased compared to the fourth quarter of 2017. According to AKVA, operations in Turkey, Greece, Spain and the Middle East are well positioned to participate in the future growth in the area.

                 

As regards the Software segment (SW), its revenues in the fourth quarter were NOK 44 million (NOK 46 million in the same quarter of 2017).

Regarding the technology division for ground facilities (LBT), its revenues reached NOK 130 million (NOK 124 million in 2017).

In partnership with Sinkaberg-Hansen AS and Egersund Net AS, the AKVA ASA group established Atlantis Subsea Farming AS on February 1, 2016, with the objective of developing submersible facilities for salmon farming on an industrial scale. Atlantis Subsea Farming AS applied for six development licenses to conduct large-scale testing of the new technology and operational concept.

Click on the image to enlarge

On February 22, 2018, the Fisheries Directorate announced that the company received a license. At this moment, Atlantis Subsea Farming AS is in a testing phase of the technology in regards to the execution of the project.

Click on the image to enlarge

With respect to AKVA's results for the entire year 2018, the group highlighted that its revenues grew 24 percent year-on-year, to NOK 2,579 million. Its net profit was NOK 90 million, below the NOK 100 million it obtained in 2017, due to the impact of transaction costs of NOK 9 million.

The company also highlighted the successful completion of the acquisition of Egersund Net.

(NOK 1 = USD 0.11558)


editorial@seafood.media
www.seafood.media


 Print


Click to know how to advertise in FIS
MORE NEWS
Norway
Mar 19, 07:40 (GMT + 9):
Torghatten Aqua is listed on the NOTC list on Oslo Børs
Australia
Mar 19, 07:00 (GMT + 9):
Aussie startup develops sustainable land based aquaculture
Taiwan
Mar 19, 07:00 (GMT + 9):
Taiwan fisheries sector embraces long-term move away from Chinese fishers
Oman
Mar 19, 07:00 (GMT + 9):
Oman Fisheries accumulated losses soar to $43 million
United States
Mar 19, 07:00 (GMT + 9):
Royal Caridea Achieves the Fastest Shrimp Growth Rate in the Aquaculture Industry
Canada
Mar 19, 07:00 (GMT + 9):
Poseidon announces US$20.75M Series B Financing
Chile
Mar 19, 04:00 (GMT + 9):
Cooke Introduces Organic Salmon
Spain
Mar 19, 03:00 (GMT + 9):
IN BRIEF - UN Ocean Decade | Join the 'Restoring European Seas' Conference
Spain
Mar 19, 01:00 (GMT + 9):
Minister Planas will receive the fishing sector on March 22
Brazil
Mar 19, 01:00 (GMT + 9):
Brazilian tilapia market
Iceland
Mar 18, 20:00 (GMT + 9):
IN BRIEF - Icelandic Fishing Catches in February was 65 thousand tonnes
South Korea
Mar 18, 19:00 (GMT + 9):
IN BRIEF - By February, cuttlefish imports increased by 78%
Viet Nam
Mar 18, 18:00 (GMT + 9):
IN BRIEF - VASEP Infographic: Vietnam's seafood exports in the first 2 months of 2024
Norway
Mar 18, 08:00 (GMT + 9):
The Norwegian snow crab fishery is closing today
Canada
Mar 18, 07:50 (GMT + 9):
Statistics │ Exports │ Crab: live-fresh-frozen │ Jan 2022-23-24



Lenguaje
FEATURED EVENTS
  
TOP STORIES
Pacífic Northeast squid price index: Japanese Common Squid (Todarodes pacificus)
China In order to continuously enhance the ability to control squid resources and price influence, and conduct more accurate resource assessment and forecasting, the China Ocean Fisheries Association&n...
Norway to Fish 386.4 Tons of Bluefin Tuna in 2024
Norway In fisheries negotiations this week, Norway has approved the plan for Norwegian fishing for bluefin tuna (Thunnus thynnus). Norway will be allowed to fish 386.4 tonnes of bluefin tuna in 2024, wh...
Fisheries subsidies: ‘We have let history down’
Worldwide The following is an excerpt from an article published by China Dialogue Ocean: Disappointment as negotiators fail to agree curbs on subsidies for overfishing at World Trade Organization meeting &quo...
The Norwegian snow crab fishery is closing today
Norway On Saturday, March 16, 9,769 tons were caught in this year's Norwegian snow crab fishery. This means that the quota has been overfished by 11 tons, and with two more days, it is likely that the quota ...
 

Maruha Nichiro Corporation
Nichirei Corporation - Headquarters
Pesquera El Golfo S.A.
Ventisqueros - Productos del Mar Ventisqueros S.A
Wärtsilä Corporation - Wartsila Group Headquarters
ITOCHU Corporation - Headquarters
BAADER - Nordischer Maschinenbau Rud. Baader GmbH+Co.KG (Head Office)
Inmarsat plc - Global Headquarters
Marks & Spencer
Tesco PLC (Supermarket) - Headquarters
Sea Harvest Corporation (PTY) Ltd. - Group Headquarters
I&J - Irvin & Johnson Holding Company (Pty) Ltd.
AquaChile S.A. - Group Headquarters
Pesquera San Jose S.A.
Nutreco N.V. - Head Office
CNFC China National Fisheries Corporation - Group Headquarters
W. van der Zwan & Zn. B.V.
SMMI - Sunderland Marine Mutual Insurance Co., Ltd. - Headquarters
Icicle Seafoods, Inc
Starkist Seafood Co. - Headquearters
Trident Seafoods Corp.
American Seafoods Group LLC - Head Office
Marel - Group Headquarters
SalMar ASA - Group Headquarters
Sajo Industries Co., Ltd
Hansung Enterprise Co.,Ltd.
BIM - Irish Sea Fisheries Board (An Bord Iascaigh Mhara)
CEFAS - Centre for Environment, Fisheries & Aquaculture Science
COPEINCA ASA - Corporacion Pesquera Inca S.A.C.
Chun Cheng Fishery Enterprise Pte Ltd.
VASEP - Vietnam Association of Seafood Exporters & Producers
Gomes da Costa
Furuno Electric Co., Ltd. (Headquarters)
NISSUI - Nippon Suisan Kaisha, Ltd. - Group Headquarters
FAO - Food and Agriculture Organization - Fisheries and Aquaculture Department (Headquarter)
Hagoromo Foods Co., Ltd.
Koden Electronics Co., Ltd. (Headquarters)
A.P. Møller - Maersk A/S - Headquarters
BVQI - Bureau Veritas Quality International (Head Office)
UPS - United Parcel Service, Inc. - Headquarters
Brim ehf (formerly HB Grandi Ltd) - Headquarters
Hamburg Süd Group - (Headquearters)
Armadora Pereira S.A. - Grupo Pereira Headquarters
Costa Meeresspezialitäten GmbH & Co. KG
NOAA - National Oceanic and Atmospheric Administration (Headquarters)
Mowi ASA (formerly Marine Harvest ASA) - Headquarters
Marubeni Europe Plc -UK-
Findus Ltd
Icom Inc. (Headquarter)
WWF Centroamerica
Oceana Group Limited
The David and Lucile Packard Foundation
Ajinomoto Co., Inc. - Headquarters
Friosur S.A. - Headquarters
Cargill, Incorporated - Global Headquarters
Benihana Inc.
Leardini Pescados Ltda
CJ Corporation  - Group Headquarters
Greenpeace International - The Netherlands | Headquarters
David Suzuki Foundation
Fisheries and Oceans Canada -Communications Branch-
Mitsui & Co.,Ltd - Headquarters
NOREBO Group (former Ocean Trawlers Group)
Natori Co., Ltd.
Carrefour Supermarket - Headquarters
FedEx Corporation - Headquarters
Cooke Inc. - Group Headquarters
AKBM - Aker BioMarine ASA
Seafood Choices Alliance -Headquarter-
Austevoll Seafood ASA
Walmart | Wal-Mart Stores, Inc. (Supermarket) - Headquarters
New Japan Radio Co.Ltd (JRC) -Head Office-
Gulfstream JSC
Marine Stewardship Council - MSC Worldwide Headquarters
Royal Dutch Shell plc (Headquarter)
Genki Sushi Co.,Ltd -Headquarter-
Iceland Pelagic ehf
AXA Assistance Argentina S.A.
Caterpillar Inc. - Headquarters
Tiger Brands Limited
SeaChoice
National Geographic Society
AmazonFresh, LLC - AmazonFresh

Copyright 1995 - 2024 Seafood Media Group Ltd.| All Rights Reserved.   DISCLAIMER