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2015-08-20

AKVA group ASA : 2Q 2015 financial reporting

Best Quarter and First Half ever - improved performance and growth continues

AKVA group continues with very good financial performance in Q2 2015 resulting
in the best quarter and the best first half ever in AKVA groups' history. The
order backlog remains high. Total revenues in Q2 was 402 MNOK (301) with an
EBITDA of 41 MNOK (24 MNOK). The order backlog at the end of the second
quarter was 493 MNOK (478 MNOK) which is the highest order backlog ever at
the end of a second quarter for AKVA group.

"We have completed another very good quarter in AKVA group where all segments
are pulling in the right direction. High order backlog and continued high
market activity gives us confidence and we consider ourselves to be well on
track in 2015", says CEO of AKVA group ASA Trond Williksen.

Cage Based Technology (CBT)
Nordic had a good start of the year, but with slightly different product mix
compared to 2014. Sales of sensors and cameras are all time high, deliveries
of plastic cages is slightly down year on year and sales of barges continues
to be very good. Chile had a good start of the year with record high activity
both on technology and on services. However, we are now facing a slow down in
line with the local industry. Number of employees and cost base are reduced
in Q2 to be prepared for expected reduced market activity in the second half
of 2015. Canada continues the good performance in Q2 with the best 1H ever
with a high order backlog. Our UK operation continues the good performance in
Q2 resulting in the best first half with a high order backlog. Turkey had a
very good Q2 and first half. There was low activity in Export to emerging
markets in the second quarter. This area is dominated by few but large
contracts and this gives variations in the P&L quarter by quarter.

Software (SW)
AKVA group Software AS continues to deliver stable and high margins with
improved revenue and margins year on year. Wise lausnir ehf had a good first
half with improved performance compared to first half last year. Software
continues to invest in new product modules, which are expected to strengthen
the financial performance of the software segment further.

Land Based Technology (LBT)
Land based has experienced improved performance year on year and quarter on
quarter. It has been a good recovery in the second quarter for AKVA group
Denmark A/S after a slow start of the year. Plastsveis AS is on track with a
profitable first half. Both companies ends the second quarter with a good
order backlog.

Order Backlog
Good market activity has materialized in a very good order inflow in Q2 and as
a consequence the best order backlog ever at the end of a second quarter for
AKVA group. The order inflow in Q2 2015 was 348 MNOK (327 MNOK). The order
backlog at the end of Q2 2015 was 493 MNOK (478 MNOK).

Balance sheet
The balance remains strong. Working capital in percentage of 12 months rolling
revenue is improved YoY from 12.4% to 10.4%. We are able to maintain low
working capital despite record high activity. Cash and unused credit
facilities amounted to 157 MNOK (144 MNOK). Total assets and total equity
amounted to 1.007 MNOK and 417 MNOK respectively, resulting in an equity
ratio of 42% (46%) at the end of Q2 2015.

Outlooks
We have a strong overall short term outlook due to high market activity and
order backlog. Our target remains to outperform 2014. The strong demand in
the Nordic market is expected to continue, with a shift towards more
investment in land based technology. Both UK and Canada are expected to
continue to perform well in the next quarters with a significant order
backlog and a large portion of recurring business. We have low expectations
in Chile. Majority of our Chilean customers struggle with loss making
operations and a need to restructure the industry. The situation is expected
to last and we are well underway to adjust our resources, costs and activity
level to the situation. The land based segment is expected to have a positive
development with a growing order backlog and prospect mass. There is
historically high market interest for Land Based Technology. Exports to
emerging markets will continue to fluctuate short term, but improved project
activity is expected in second half of the year. We continue our effort to
build service and after sales as a key business element in all markets and
segments.

About AKVA group
AKVA group is a technology and service partner to the aquaculture industry
worldwide. The company has 701 employees, offices in 8 countries and a total
turnover of NOK 1.2 billion in 2014. 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 cage farming and land
based aquaculture. AKVA group is recognized as a pioneer and technology
leader through more than 30 years. The Corporate Headquarter is in Bryne,
Norway.

Dated: 20 August 2015
AKVA group ASA

Web:www.akvagroup.com

CONTACTS:

---------------------------------------------
| Trond Williksen Chief Executive Officer |
| Phone: +47 51 77 85 00 |
| Mobile: +47 91 63 01 73 |
| E-mail: twilliksen@akvagroup.com |
---------------------------------------------

-----------------------------------------------
| Eirik Børve Monsen Chief Financial Officer |
| Phone: +47 51 77 85 00 |
| Mobile: +47 91 63 98 31 |
| E-mail: emonsen@akvagroup.com |
-----------------------------------------------
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)

2015 2Q AKVA group presentation
http://hugin.info/137526/R/1946508/706360.pdf
2015 2Q AKVA group report
http://hugin.info/137526/R/1946508/706362.pdf

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: AKVA group ASA via Globenewswire

HUG#1946508

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