Aquaculture technology provider AKVA Group has announced revenue and EBIT targets for 2027 of NOK 5 billion and 9%, respectively, and has also outlined ambitions for continued profitable growth to NOK 7 billion in 2030.
AKVA said that with the global salmon farming industry having seen production levels stagnate in the 2020s after decades of growth, it will need to invest in technology and equipment to generate new long-term growth and it expects this to enable stronger growth and margin improvements across its three business areas: Sea Based, Land Based and Digital.
“Our products, technologies and solutions can help improve fish health and welfare, enable new volume growth, and create high value for both our customers and for us. Our Nautilus deep farming concept is an efficient solution to the lice challenge in sea. Our proven RAS technology enables growth in smolt, post-smolt and grow-out facilities on land. And looking ahead, our digital AI solutions will move the industry towards more intelligent and fully automated precision fish farming,” AKVA CEO Knut Nesse said.
AKVA generated revenue of NOK 3.5 billion in 2024 and has issued a revenue guidance of NOK 4 billion for 2025. Its new revenue target of NOK 5 billion for 2027 and ambition to reach NOK 7 billion by 2030 would represent a doubling of revenue from 2024 to 2030.
It has also guided for an increase in EBIT from 5% in 2024 to 6% in 2025 and now a 9% EBIT target in 2027 and ambition to continue driving the EBIT-margin to more than 10% in 2030.
The target for the Sea Based segment is to grow revenues from NOK 2.8 billion in 2024 to NOK 3.4 billion in 2027, with the EBITDA-margin improving from 12% to 14%. For Land Based, the target is to more than double revenue from NOK 600 million in 2024 to NOK 1.4 billion in 2027, enabling an EBITDA-margin improvement from 4% to 10% due to high operational leverage. The target for the Digital segment is to grow revenue from NOK 137 million in 2024 to around NOK 250 million in 2027, with an EBITDA-margin increase from 22% towards 40%.
“We have made significant investments to strengthen the business fundament over the past years to be able to realise ambitious profitable growth plans without major additional capital expenditure. We are committed to delivering long-term value to our shareholder both through share price gains and competitive direct returns, and with a healthy financial position, capital-light growth and improved free cash flow we expect to see significantly increased dividend capacity over the years to come,” AKVA CFO Ronny Meinkøhn said.
