AKVA group ASA Provides Earnings Guidance for the Fourth Quarter and Full Year of 2019
January 20, 2020 at 04:49 pm
Share
AKVA group ASA provided earnings guidance for the fourth quarter and full year of 2019. The Based on a preliminary assessment of the results for the fourth quarter of 2019, the company is expecting to report a negative EBIT for the period. The Company's current estimate is that the EBIT will be in the range of minus NOK 25 million to minus NOK 30 million. preliminary revenue in the quarter was lower than expected, especially within the Land Based segment, causing reduction in EBIT. The reduction was mainly caused by delays in projects.
For the full year, the company expects to report EBIT of NOK 136 million to NOK 141 million.
Akva Group ASA is a Norway-based supplier of solutions and services to the global aquaculture industry. Its activities include design, purchase, manufacturing, assembly, sale and installation of technology products as well as rental, service and consulting services. The Company divides its operations into three business segments: Sea Based Technology (SBT), Digital and Land Based Technology (LBT). The SBT main products include Polarcirkel, Wavemaster and Akvasmart hardware brands such as: Plastic cages, steel cages, feed barges, feed systems, sensor- and camera systems, underwater lights and net cleaning systems. The LBT provides technology for water treatment technology. Main components used include mechanical filters, UV treatment, bio filters, degasser units, oxygenation, cooling/heating systems and lifting pumps. The Digital software include brands such as: Production control, planning, traceability, and ERP software for both the aquaculture and the fishing industry.
AKVA GROUP ASA 
