AKVA Group Q3 revenue falls to NOK 959 million, land-based orders account for 44% of order backlog

Norwegian aquaculture equipment supplier AKVA Group reported revenue of NOK 959 million in the third quarter of 2026, down 14% from the third quarter of 2025. Profitability rose over the same period, with EBITDA of NOK 170 million, up 15% from the third quarter of 2025.

On orders, AKVA Group booked NOK 714 million in new orders in the third quarter, and its order backlog stood at NOK 2,718 million at the end of the third quarter. Of the order backlog, 44% is related to land-based farming facilities, with the remainder still mainly sea-based farming operations. Although land-based orders account for nearly half, sea-based operations still dominate the company's sales revenue.

As the company's historically most important business segment, Sea Based generated revenue of NOK 666 million in the third quarter. AKVA Group said concepts related to deep-water farming (dyphdrift) continue to show strong progress.

The strategic review concluded in October 2026, with the result that AKVA reached a transaction agreement with Japan's Yanmar, which made a voluntary cash offer of NOK 161 per share covering all AKVA shares. The transaction is expected to be completed in the fourth quarter, subject to meeting regulatory requirements. Costs related to the transaction will be charged in the fourth quarter.

AKVA Group has set a target of achieving revenue of at least NOK 5 billion and an operating margin of 9% in 2027.