Aquaculture technology provider AKVA Group has posted a solid third quarter, reporting a 19% year-on-year increase in revenue and stronger profitability across key business areas.
The company’s Q3 2025 revenue reached NOK 1.11 billion, up from NOK 936 million in the same period last year. EBITDA rose to NOK 148 million, a NOK 20 million increase compared to Q3 2024, driven by higher activity levels and improved project margins in the Land Based segment.
Order intake for the quarter totalled NOK 786 million, slightly down from NOK 803 million in Q3 2024. However, AKVA said tender activity remained high, and it expects a strong order intake in Q4 to underpin further revenue growth in 2026.
Early in the fourth-quarter, the company secured a NOK 220 million RAS contract from Tytlandsvik Aqua, adding further weight to its land-based portfolio.
“Profitability improved significantly compared to last year, primarily due to higher revenue and better project margins in the Land Based business,” AKVA Group said in its statement.
Its Sea Based operations generated NOK 770 million in revenue, up from NOK 740 million last year. EBITDA was NOK 113 million, maintaining a solid 14.7% margin. Order intake for the segment reached NOK 620 million, with a backlog of NOK 745 million. The segment’s regional performance was mixed, with Nordic revenue increasing to NOK 545 million and Europe and Middle East (EME) climbing to NOK 91 million, while the Americas region declined to NOK 134 million.
The Land Based segment saw the strongest growth, more than doubling revenue to NOK 308 million (from NOK 162 million). EBITDA rose sharply to NOK 22 million, with an improved 7.3% margin. The segment’s order backlog stood at NOK 1.44 billion, representing 61% of AKVA’s total backlog.
In the Digital segment, revenue remained stable at NOK 34 million, while EBITDA increased slightly to NOK 12 million. Order backlog in Digital reached NOK 183 million, up from NOK 147 million last year.
AKVA maintained a healthy balance sheet, with an equity ratio of 32.4% and total liquidity (cash and credit facilities) of NOK 442 million at quarter-end. The company declared a dividend of NOK 1 per share for the second half of 2025, paid on November 4.
Looking ahead, AKVA expects continued momentum for its “deep farming” concepts and plans to invest further across sea-based, land-based, and digital technologies. The company is targeting full-year 2025 revenue of at least NOK 4 billion and an EBIT margin of 6%.
“We expect a strong finish to the year with high tender activity translating into robust order intake in Q4, setting a solid foundation for 2026 growth,” the company stated.
