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AKVA group ASA : 4Q 2015 financial reporting

Best year ever - second year in a row

AKVA group has completed the best fourth quarter ever. Revenue in Q4 2015
ended on 344 MNOK (305 MNOK) with an EBITDA of 27 MNOK (13 MNOK).
Fourth quarter EBITDA margin was 7.9% (4.4%).
All business segments have made positive contributions to the fourth quarter
result. Financially this is the best year ever for AKVA group for the second
year in a row. The order backlog is also the highest ever. A dividend of NOK
1.00 per share was paid in Q4 2015.

"AKVA group have completed yet another strong quarter and year. We have over
the last year's transformed AKVA group to become broader and more
diversified. As a result of this transformation all our three business
segments now contribute to the good financial performance
", says CEO of AKVA group ASA Trond Williksen.

Cage Based Technology (CBT)
Nordic CBT had a decent performance in Q4, which traditionally is a low season
quarter in Nordic CBT segment. The performance was driven by a slightly
different product mix compared to 2014, i.e. a wider range of products
contribute to revenue and profit in 2015 vs 2014. Chile has completed one of
the best years ever margin vice in 2015 due to reduced cost base and higher
level of service sales.
Canada had a good fourth quarter and ended their best year ever. Canada is a
lean and efficient operation. Australia continues to be a small but
profitable operation. They also completed their best year ever. UK ended
their best year ever and continues to have high a level of OPEX based
revenue. Turkey had their best year ever and is experiencing increased
activity in the Sea Bass and Sea Bream industry. Export to emerging markets
experienced a slow quarter. Emerging markets are 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 also continues
with improved performance year on year. Software continues to invest in new
product modules, which is expected to strengthen the financial performance of
the software segment further.

Land Based Technology (LBT)
LBT was 25% of total Group revenue in the fourth quarter and LBT delivered a
9.8% EBITDA in Q4. This is due to a significant improved performance year on
year and quarter on quarter. Plastsveis AS is on track with good performance
in 2015. Aquatec Solutions A/S was included in the Group P&L from Q4 and
onwards. Aquatec had good performance as expected. AKVA group Denmark A/S had
a decent quarter, but there is still potential for further improvements
financially. The land based segment ends the quarter with a good order

Order Backlog
We have experienced continued good market activity throughout the second half
of 2015 and this has been the best second half in terms of order inflow ever
for AKVA group of MNOK 854 (MNOK 661). The order inflow in Q4 2015 was 350
MNOK (460 MNOK). The order backlog at the end of Q4 2015 was 649 MNOK (504
MNOK). This is the highest order backlog ever for AKVA group.

Balance sheet
The balance remain strong. Working capital in percentage of 12 months rolling
revenue is 8.8% (10.1%). We are able to maintain low working capital despite
record high activity. Cash and unused credit facilities amounted to record
high 160 MNOK at the end of Q4 (144 MNOK).Total assets and total equity
amounted to 1,070 MNOK (904 MNOK) and 428 MNOK (389 MNOK) respectively,
resulting in an equity ratio of 40% (43%) at the end of Q4.

Dividend of NOK 1.00 per share paid in Q4 2015
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. According to the AKVA group ASAs' dividend policy a dividend of
1.00 NOK per share was paid in November 2015. Total dividend pay out in
November 2015 was 25.7 MNOK.

We have a good mid term outlook due to high market activity and the large
order backlog. The activity level is particularly high in the Nordic market
segment. The strong demand in the Nordic cages based segment continues into
the new year, with a shift towards sale of technology for more efficient
production. The land based segment has experienced increased activity in 2015
and this higher level of activity is expected to continue. The land based
segment is becoming a larger part of AKVA group. UK and Canada experience
slightly less project sales so far in the new year compared to last year, but
both entities are still expected to perform well. We have continued low
expectations in Chile due to the challenging situation for our Chilean
customers. Our exposure in Chile is reduced over the last years. Our Turkey
and Australian operations are expected to continue to perform well in the
next quarters with a good order backlog. Exports to emerging markets have a
more optimistic start of the year than last year. The activity is still
expected to fluctuate due to the nature of the business. 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 around 670 employees, offices in 8 countries and a
total turnover of NOK 1.4 billion in 2015. 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: 19 February 2016
AKVA group ASA


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

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

2015 4Q AKVA group presentation
2015 4Q AKVA group report


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


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