AKVA Group (AKASF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, good morning and very much welcome to the Q&A presentation of Aqua Group. I will do the introduction and highlights. Ronny Mengken, our CFO, will do the financial performance and then we will do our Q&A session. So please post any questions during the presentation and our moderator will read the questions. Kicking off with the highlights for the first quarter, we had a quarterly revenue of 1 billion 140 million and record high quarterly EBIT of 91 million. Strong order intake of around 1.5 billion and order backlog of 2.8 billion at the end of Q1 2026. A last contract with value of approximately 200 million NOK was awarded from Ordal Aqua in February and earlier announced. And a small contract of Euro 28 million was awarded from Luxray in April and will then be part of the order backlog for Q2. Four new barges for the international market were awarded in Q1 with a total contract value estimated of Euro 6 million. Acquisition of remaining shares of Submerge was completed during Q1. That's our smart camera solution. Now we are the 100 cent owner. And a dividend of NOC1 per share were paid on April 21st. And also the strategic review was announced the start of April to maximize shareholder value. I will comment on that a bit later in the presentation. Key figures for Q1 2026, record high activity level of 1,140,000, which is representing 13% higher than a year ago. EBITDA came in at 153 million, where C-based landed at 99 million NOC, land-based at 41, and digital at 13 million NOC. and the overall EBIT of 91 million NOK is representing a record quarter for Aqua Group. Overall order intake of 1.5 billion, which is also a record quarter of which 1 billion and 34 million NOK is related to sea-based and 460 million NOK related to land-based, also driv...