AKVA reports strong interest from potential buyers

The aquaculture support services giant announced a month ago that it was carrying out a strategic review of the business, which included weighing up a possible sale.

The strategic review, aimed at maximising shareholder value, was announced at the start of April.

Presenting its first quarter results this morning, AKVA said: “Following the initial phase of the strategic review, AKVA and its advisor are seeing high-quality interest, with particular attention around a potential sale of the entire company as a complete platform.

“Engagement with interested parties remains at an early stage. The strategic review is expected to be concluded during the fall of 2026.”

The statement added: “No decisions have been taken at this stage, and AKVA will provide an update to the market upon conclusion of the process.”

Meanwhile, the company has reported a strong order intake of NOK 1,493 million (£118m) in the quarter and order backlog of NOK 2,830 million (£224m) at the end of Q1 2026.

A RAS contract with value of approx. NOK 200 million (£16m) was awarded from Årdal Aqua AS in February. A smolt contract of approx. EUR 28 million (£2.2m) was awarded from the Icelandic salmon farmer Laxey EHF in April.

Four new barges for the international market were awarded in Q1 2026 with a total contract value estimated at EUR 6 million. Acquisition of remaining shares in Submerged AS, increasing ownership from 58% to 100%, was completed during Q1.

Profitability improved in the first quarter compared to last year and is related to the increased revenue, economies of scale and robust product mix in Sea Based.

The Sea Based (SB) revenue for Q1 2026 ended at NOK 755 million (£60m). The EBITDA and EBIT for the segment in Q1 ended slightly higher at NOK 99 million (£7.8m) and marginally down at NOK 55 million (£4.3m).

The Land Based (LB) Revenue for the first quarter almost doubled to NOK 346 million (£27m). EBITDA and EBIT (respectively) ended at NOK 41 million (£3.25m) against NOK 10 million) last year and at NOK 37 million (£2.9m) against NOK 6 million last year.