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Supplier reports £130 million order backlog

Technology & equipment

AKVA group ended the quarter with an order backlog of NOK 1.43 billion (£130 million) and, looking ahead, expects market conditions to remain favourable – particularly in Chile, Eastern Canada, Iceland and the Med.

According to AKVA's Q1 report, released yesterday, they more than doubled the revenue they generated from aquaculture equipment sales in Europe and the Middle East in Q1 – thanks largely to an increase in sales to the salmon farming sectors in Scotland and Russia.

The report also points to increased sales in the Americas – where they experienced an order intake of NOK 187 million in the quarter, compared to NOK 117 million in Q1 2017.

They also report a strong quarter for the Nordic region in terms of new orders, with a total order intake of NOK 293 million (up from NOK 244 million) in the quarter – largely thanks to an increase in sales from ASA Nordic and Helgeland Plast, while AKVA Marine Services and Sperre EBITDA rose to NOK 11 million from NOK 9 million.

New orders in the land-based segment were slow, however, falling to NOK 51 million compared to NOK 103 million in Q1 2017.