AKVA Group ASA has announced that its subsidiary, AKVA group Land Based A/S, has been awarded two post-smolt RAS (recirculating aquaculture systems) contracts in Norway. The location and the identity of the clients have not been disclosed.

The estimated value of the contracts is €6m (£5m) and €98m (£82m) respectively and the projects will start in February 2022.

Last week AKVA Group reported that revenue for the fourth quarter of 2021 was up 10% year-on-year to NOK 831m (£69m).

Land Based Technology (LBT) operations reported revenues of NOK 161m (£13.1m), up 2.5% on Q4 2020. EBIT (earnings before interest and taxation), however, was NOK 5m (£42,000), down from NOK 9m (£75,000) in Q4 2020.

Order intake for the LBT division was NOK 21m (£1.75m), markedly less than the NOK 385m (£32m) recorded in Q1 2020.

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