AKVA group ASA: Q2 2026 financial reporting

High activity and strong financial performance

AKVA group (“AKVA”) delivered high quarterly revenue in Q2 2026 of NOK 1,189 million, an increase of 2% compared to Q2 2025.

Record high quarterly EBITDA of NOK 179 million, an increase of NOK 34 million or 23% compared to Q2 2025.

Strong order intake of NOK 1,345 million in the quarter and solid order backlog of NOK 2,997 million at the end of Q2 2026.

A smolt contract of approx. EUR 28 million was awarded from Laxey EHF in April.

A dividend of NOK 1 per share will be distributed during the second half year of 2026.

Strategic review was announced on April 8 to maximize shareholder value. In the Q1 presentation on May 8 and following the initial phase of the strategic review, AKVA informed the market about high-quality interest around a potential sale of the entire company as a complete platform. The strategic review is now in a progressed phase with expected conclusion during the fall, in line with previous communication. No final decisions have been taken at this stage, and AKVA will provide an update to the market upon conclusion of the process

The activity level in the second quarter of 2026 was high with revenue of NOK 1,189 million and order intake of NOK 1,345 million. The high order intake in the quarter was supported by the award of the smolt contract from Laxey EHF and strong momentum in Sea Based including award of three new barges for the Nordic and international market.

The high order backlog of NOK 2,997 million at the end of Q2 2026 provides a strong foundation for continued organic growth in 2026 and into 2027.

Profitability improved in the second quarter compared to last year and is related to economies of scale, favorable product mix in Sea Based and continued strong project execution in Land Based.

Sea Based (SB)
SB revenue for Q2 2026 ended at NOK 822 million (NOK 868 million). EBITDA and EBIT for the segment in Q2 ended at NOK 143 million (NOK 124 million) and NOK 94 million (NOK 85 million), respectively. The related EBITDA and EBIT margins were 17.4% (14.3%) and 11.4% (9.7%).

Order intake in Q2 2026 was NOK 913 million compared to NOK 655 million in Q2 2025. Order backlog ended at NOK 1,414 million compared to NOK 895 million last year.

The Nordic region experienced a decrease in revenue from NOK 676 million in Q2 2025 to NOK 559 million in Q2 2026.

In the Americas region, the revenue was NOK 146 million, which is an increase from NOK 114 million in the second quarter last year.

Europe and Middle East (EME) had a revenue of NOK 117 million in Q2 2026, compared to NOK 78 million in the second quarter last year.

Land Based (LB)
Revenue for the second quarter was NOK 326 million (NOK 264 million). EBITDA and EBIT ended at NOK 21 million (NOK 13 million) and NOK 17 million (NOK 9 million), respectively. The related EBITDA and EBIT margins were 6.5% (4.9%) and 5.3% (3.6%).

Order intake in Q2 2026 of NOK 397 million compared to NOK 316 million in Q2 2025. Order backlog ended at NOK 1,364 million compared to NOK 1,630 million last year.

Digital (DI)
The revenue in the segment was NOK 41 million (NOK 35 million) in Q2 2026. EBITDA and EBIT ended at NOK 15 million (NOK 8 million) and NOK 1 million (NOK -5 million), respectively. The related EBITDA and EBIT margins were 35.7% (21.9%) and 1.2% (-13.1%).

Order intake in Q2 2026 was NOK 35 million compared to NOK 81 million in Q2 2025. Order backlog ended at NOK 220 million, compared to NOK 118 million last year.

Balance sheet
Working capital as a percentage of 12 months rolling revenue is 11.2% (9.4%). Cash and unused credit facilities amounted to NOK 337 million (NOK 473 million) at the end of Q2. Total assets and total equity amounted to NOK 4,266 million and NOK 1,428 million respectively, resulting in an equity ratio of 33.5% (31.5%) at the end of Q2 2026. The leverage ratio was 2.51 as of 30 June 2026 and AKVA was in compliance with all bank covenants.

Dividend
The Company’s main objective is to maximize the return on the investment made by its shareholders through both increased share prices and dividend payments. The company paid a dividend of NOK 1 per share in April for the first half year of 2026. The company has decided to pay a dividend of NOK 1 per share for the second half year of 2026.

Order Backlog
The order backlog at the end of Q2 was NOK 2,997 million (NOK 2,712 million). NOK 1,364 million or 46% of total order backlog at the end of Q2 relates to Land Based.

Outlook
Foreseeing a continued strong momentum for deep farming concepts.

Continuing to invest and improve our solutions across Sea Based, Land Based and Digital.

AKVA is aiming for revenue of minimum NOK 5 billion and EBIT of 9% in 2027.

Strategic review is expected to be completed during the fall of 2026.

About AKVA group
AKVA group is a technology and service partner to the aquaculture industry worldwide. The company has 1 568 employees, offices in 11 countries and had a total turnover of NOK 4.4 billion in 2025. We are a public listed company operating in one of the world’s fastest growing industries and supply everything from single components to complete installations, both for sea farming and land based aquaculture. AKVA group is recognized as a pioneer and technology leader through more than 40 years.

Dated: 14 August 2026
AKVA group ASA

Web: www.akvagroup.com

CONTACTS:

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act