AKVA group Full Year 2023 Earnings: Revenues Beat Expectations, EPS Lags

AKVA group (OB:AKVA) Full Year 2023 Results

Key Financial Results

• Revenue: kr3.43b (up 2.9% from FY 2022).
• Net loss: kr17.8m (loss narrowed by 86% from FY 2022).
• kr0.49 loss per share (improved from kr3.61 loss in FY 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

AKVA group Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) missed analyst estimates.

The primary driver behind last 12 months revenue was the Sea Based Technology segment contributing a total revenue of kr2.67b (78% of total revenue). Notably, cost of sales worth kr2.00b amounted to 58% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to kr891.2m (62% of total expenses). Explore how AKVA's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Machinery industry in Norway.

Performance of the Norwegian Machinery industry.

The company's shares are up 5.0% from a week ago.

Risk Analysis

It's still necessary to consider the ever-present spectre of investment risk. We've identified 1 warning sign with AKVA group, and understanding it should be part of your investment process.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.