AKVA Group (AKVA) Q2 2026 earnings summary

Executive summary

• Achieved record high quarterly revenue of NOK 1,189 million and EBIT of NOK 111 million in Q2 2026, up NOK 22 million year-over-year, with strong order intake of NOK 1,345 million and an order backlog of NOK 2,997 million at quarter-end.

• First half 2026 revenue reached NOK 2,329 million, up 7% year-over-year, with EBITDA of NOK 332 million and EBIT of NOK 202 million, both at record levels.

• Strategic review to maximize shareholder value is ongoing, with a conclusion expected in fall 2026 and a potential sale under consideration.

• Dividend of NOK 1 per share paid in April and another NOK 1 per share to be distributed in the second half, totaling NOK 2 for 2026.

Financial highlights

• Q2 2026 EBITDA was NOK 179 million, NOK 34 million higher than last year; EBIT of NOK 111 million, NOK 22 million higher year-over-year; EBITDA margin improved to 15.0% from 12.4%.

• Book-to-bill ratio for the last 12 months was 107%, with order intake of NOK 4.9 billion and revenue of NOK 4.6 billion; Q2 2026 book-to-bill ratio was 113%.

• Earnings per share for Q2 2026 was NOK 1.85, up from NOK 1.32 in Q2 2025.

• H1 2026 EBIT was NOK 202 million, up NOK 56 million year-over-year.

• Net profit in Q2 2026 was NOK 68 million, up from NOK 47 million in Q2 2025.

Outlook and guidance

• Revenue target above NOK 5 billion and EBIT margin of at least 9% by 2027, supported by a robust order backlog and organic growth initiatives.

• Continued strong momentum expected for deep farming, cod, and trout farming, with Nautilus Next launch anticipated to drive further growth.

• Strategic review conclusion anticipated in fall 2026.