Highlights for the quarter
AKVA group achieved revenues of 202.0 MNOK (226.7 MNOK) in the third quarter of 2012. EBITDA was 12.5 MNOK (22.0 MNOK) and EBIT was 4.2 MNOK (13.8 MNOK) in the quarter.
"We achieved operational and financial performance in accordance with our expectations in the third quarter. Activities were influenced by low salmon prices impacting investments by our customers, especially in Chile. Total order inflow for the group ended at the same level as in Q3 last year. We experienced growth in order inflow in the very end of the quarter and we see positive signals in the market, especially in the Nordic region", says CEO of AKVA group ASA Trond Williksen.
Nordic and Chile continues to be main drivers of group revenues in the third quarter of 2012. Nordic revenue was on the same level as in the second quarter. Revenue in Chile is stabilizing on relative high levels. Exports continue to pose an exciting opportunity despite few deliveries in emerging markets in the last months. Software continues to deliver solid margins.
Total assets and total equity amounted to 667.3 MNOK and 346.5 MNOK respectively, resulting in an equity ratio of 51.9% versus 44.9% at the beginning of the year.
Order backlog at the end of the third quarter was 200 MNOK (260 MNOK). The order inflow was 149 MNOK (146 MNOK).
Traditionally the fourth quarter is the most challenging quarter due to seasonality effects, especially in the Nordic market. This effect is expected also this year despite good order inflow at the very end of Q3 as well as in the beginning of Q4. Orders signed over the last weeks are predominantly for deliveries in Q1 and Q2 2013 and will have limited effect in Q4 2012. Chile seems to stabilize on rather high business volumes for the rest of the year, but with more uncertainty for 2013. We expect improvements in our performance in UK and Canada.
AKVA group continues to be hands on adjusting operations according to market development, focusing on long term performance, margins and customer relations. We continue to build service and after sales and considers this as a key business element in the future. The financial situation for the Group is now robust. However, we will continue to monitor working capital and cash management going forward.
About AKVA group
AKVA group is a technology and service partner to the aquaculture industry worldwide. The company has more than 700 employees, offices in 8 countries and a total turnover of 900 MNOK in 2011. We are a public listed company operating in one of the world's fastest growing industries and supply everything from single components to complete installations, both for cage farming and land based aquaculture. AKVA group is recognized as a pioneer and technology leader through more than 30 years. Corporate headquarters are in Bryne Norway.
Dated: 31th October 2012
AKVA group ASA
Web: www.akvagroup.com
CONTACTS:
| Trond Williksen | Chief Executive Officer |
| Phone: | +47 51 77 85 00 |
| Mobile: | +47 91 63 01 73 |
| E-mail: | twilliksen@akvagroup.com |
| Eirik Børve Monsen | Chief Financial Officer |
| Phone: | +47 51 77 85 00 |
| Mobile: | +47 91 63 98 31 |
| E-mail: | emonsen@akvagroup.com |
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)
