COPENHAGEN: AKVA ended last quarter 2016 with record high sales and order intake, but with red numbers mainly due to restructuring costs in its operations in Denmark.
The revenue for Q4 was NOK449 million (USD 53.7 million), compared to NOK344 million (USD41.2 million) in the same period of the year before, but EBITDA fell by 11 per cent to NOK24 million (USD2.9 million).
EBITDA margin in the analyzed quarter was 5.3 per cent compared to 9.7 a year before. The company attributed this drop to the restructuring costs of NOK 19.9 million (USD2.3 million) related to the AKVA Denmark group.
AKVA reported that at the end of the fourth quarter, it had outstanding work for approximately NOK1 billion (USD119 million).
The group strategy continued with the acquisition of Sperre AS, provider of systems for underwater inspection for aquaculture industry, transaction that was closed in November, and investments in increased capacity in Helgeland Plast AS.
With respect to the cage based segment in the Nordic region, it had an increase in revenues of 72 per cent y-o-y.
The company recorded increased activity in Chile, while Canada was slow as regards to new sales.
AKVA’s software segment improved performance year on year, with higher gross income and stable margins.
