AKVA group ASA: Preliminary Q2 result – strong revenues with cost related headwinds
August 03 2022 - 2:05AM
AKVA group ASA: Preliminary Q2 result – strong revenues with cost
related headwinds
AKVA group ASA (“The Company) is expecting a strong revenue of
MNOK 907 in Q2 22, representing an increase of 9% compared to Q2
21. However, the profitability is significantly impacted by
increased costs from high inflation rates, warranty and cost
provisions. EBIT is expected to be negative of MNOK 41 for Q2
22.
Main items that have contributed to the significant shortfall of
EBIT in Q2:
- High inflation rates and supply chain restrictions worldwide
driven by the Russia-Ukraine conflict with estimated MNOK 37 in
additional costs. Continued uncertainty related to supply chain
restrictions and cost inflations may impact the profitability for
the rest of 2022.
- One-time cost provisions of MNOK 31 within the Sea Based
segment, primarily related to an ongoing barge project in
Canada.
- One-time warranty and cost provisions of MNOK 34 related to
specific Land Based projects.
Further details will be presented in the second quarter
presentation at Dronning Eufemias gate 30, Oslo, 10:00 August
12th.
Dated: 3 August
2022
AKVA group ASA
Web: www.akvagroup.com
CONTACTS:
Knut Nesse |
Chief Executive
Officer |
Phone: |
+47 51 77 85 00 |
Mobile: |
+47 91 37 62 20 |
E-mail: |
knesse@akvagroup.com |
Ronny
Meinkøhn |
Chief Financial
Officer |
Phone: |
+47 51 77 85
00 |
Mobile: |
+47 98 20 67
76 |
E-mail: |
rmeinkohn@akvagroup.com |
This information is subject to the disclosure requirements
pursuant to Section 5-12 the Norwegian Securities Trading Act
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