Increased costs, inflation leave AKVA uncertain of profitability for remainder of 2022

AKVA Group has posted Q2 2022 revenues of NOK 907 million (USD 93.5 million, EUR 91.3 million), up 9 percent year-over-year.

AKVA’s full Q2 results will be delivered on 12 August, 2022. However, according to the Stavanger, Norway-based aquaculture services and equipment provider’s preliminary results statement, its profitability has been significantly impacted by increased costs from high inflation rates, warranty, and cost provisions. As a result, its Q2 2022 earnings before interest, taxes, and depreciation (EBIT) is expected to show a loss of  …

Photo courtesy of AKVA Group